Trump decries New York trial over his business practices as 'scam'

Former US president Donald Trump denounced the civil fraud case over his business practices as a politically motivated "scam" as he arrived defiantly for a trial in the lawsuit, which could cost him control of Trump Tower and other prized properties.

"This is a continuation of the single greatest witch hunt of all time," he said on Monday as he made a voluntary trip to a New York court for a trial that has high stakes for him.

"It's a scam. It's a sham," the Republican said, reiterating claims that the suit is a politically motivated attempt to thwart his return to the White House.

New York Attorney General Letitia James' suit accuses Trump and his company of deceiving banks, insurers and others by habitually lying about his wealth in financial statements.

Judge Arthur Engoron already has ruled that Trump committed fraud in his business dealings. It is a non-jury trial, so Engoron will decide on six other claims in the lawsuit.

'Persistent and repeated fraud'

James, a Democrat, is seeking $250 million in penalties and a ban on Trump doing business in New York. The judge’s ruling last week, if upheld on appeal, could force Trump to give up New York properties including Trump Tower, a Wall Street office building, golf courses and a suburban estate.

Trump, the Republican front-runner in the 2024 presidential race, has denied wrongdoing. He says that James and the judge are undervaluing such assets as Mar-a-Lago, and that it didn’t matter what he put on his financial statements because they have a disclaimer that says they shouldn’t be trusted.

Before the trial Monday, James reiterated her position that Trump for years engaged in "persistent and repeated fraud."

"No matter how powerful you are, and no matter how much money you think you have, no one is above the law," she said on her way into the courthouse.

Trump isn’t expected to testify for several weeks. His trip to court on Monday marked a remarkable departure from his past practice.

Trump didn't go to court as either a witness or a spectator when his company and one of its top executives was convicted of tax fraud last year. He didn't show, either, for a trial earlier this year in which a jury found him liable for sexually assaulting the writer E. Jean Carroll in a department store dressing room.

In some ways, though, this new trial comes with higher stakes.

James, a Democrat, is seeking $250 million in penalties and a ban on doing business in New York.

Engoron's ruling of last week, if upheld on appeal, would also shift control of some of his companies to a court-appointed receiver and could force him to give up prized New York properties such as Trump Tower, a Wall Street office building, golf courses and a suburban estate.

Trump called it a "a corporate death penalty.”