NEW YORK: Donald Trump engaged in “election fraud” by paying hush money to a porn star just days before the 2016 White House vote, prosecutors said Monday at the first ever criminal trial of a former US president.
“This case is about a criminal conspiracy and a cover-up,” Assistant District Attorney Matthew Colangelo said. “He orchestrated a criminal scheme to corrupt the 2016 presidential election.”
Laying out the prosecution’s case for the jury, Colangelo said Trump falsified business records to buy the silence of porn star Stormy Daniels over a 2006 sexual encounter that could have impacted his presidential bid.
“It was election fraud, pure and simple,” he said.
Trump, 77, dressed in a dark blue suit and blue tie with an American flag pin on his lapel, sat at the defense table flanked by his lawyers, staring straight ahead as the prosecutor delivered his opening remarks.
The case poses substantial risks to the Republican presidential candidate, coming less than seven months before his November election rematch with Democratic President Joe Biden.
Prosecution witnesses are expected to include Daniels and Trump’s former fixer Michael Cohen, who arranged the alleged payment to the adult film actress.
“President Trump did not commit any crimes,” Todd Blanche, one of his attorneys, said in his opening statement. “The Manhattan DA should never have brought this case.
“I have a spoiler alert: there’s nothing wrong with trying to influence an election,” Blanche said. “It’s called democracy.”
David Pecker, former publisher of the National Enquirer tabloid, was the first witness called by prosecutors, who allege he was used to bury negative stories about Trump, a policy known as “catch and kill.”
Pecker was only briefly on the stand before court was adjourned for the day by Judge Juan Merchan. It will resume on Tuesday.
Trump, speaking to reporters in a hallway after the court session, again insisted he had done nothing wrong and claimed the case was brought to derail his 2024 White House bid.
“This is a Biden witch hunt to keep me off the campaign trail,” he said.
The trial will keep Trump in court for four days a week over a possibly six-to-eight-week period.
He faces 34 counts of falsifying business records for reimbursements made to Cohen, his lawyer, for the $130,000 “hush money” payment to Daniels.
Blanche, Trump’s attorney, attacked the credibility of Cohen, who served prison time for tax evasion and campaign finance violations, and Daniels in his opening remarks.
“He’s a convicted felon,” Blanche said of Cohen. “And he also is a convicted perjurer.”
Daniels “saw her chance to make a lot of money, $130,000, and it worked,” he said. “And since this story came out in 2018, became public, she’s made hundreds of thousands of dollars because of it.”
Trump has separately been indicted on charges of conspiring to overturn the results of the 2020 election won by Biden and for hoarding secret documents after leaving the White House.
Those cases have been repeatedly delayed, however, due to his strategy of challenging every legal step.
Merchan, on the other hand, has run the New York trial on a tight schedule.
Trump has railed against the case, particularly a partial gag order imposed by Merchan to prevent him from publicly attacking witnesses, prosecutors and relatives of court staff.
A hearing will be held Tuesday at which Merchan will decide if Trump is already in contempt of court due to outbursts during jury selection.
The identities of the jurors are being kept secret for their own protection.
The jury was seated last week after being questioned by prosecutors and defense attorneys about their media habits, political donations and education.
Many potential panelists were excused after saying they could not be impartial, before lawyers and the judge whittled the panel down to 12 jurors with six alternates.
A unanimous verdict will be required to convict Trump, who has been ordered to attend each day of the trial.
Security was tight Monday after a man set himself on fire last week outside the courthouse in an unrelated but gruesome incident.
Prosecution lays out ‘criminal conspiracy’ in historic Trump trial
https://arab.news/z7q83
Prosecution lays out ‘criminal conspiracy’ in historic Trump trial
- A hearing will be held Tuesday at which Merchan will decide if Trump is already in contempt of court due to outbursts during jury selection
Crypto mogul Do Kwon sentenced to 15 years in prison for $40 billion stablecoin fraud
NEW YORK: Onetime cryptocurrency mogul Do Kwon was sentenced Thursday to 15 years in prison after a $40 billion crash revealed his crypto ecosystem to be a fraud. Victims said the 34-year-old financial technology whiz weaponized their trust to convince them that the investment — secretly propped up by cash infusions — was safe.
Kwon, a Stanford graduate known by some as “the cryptocurrency king,” apologized after listening as victims — one in court and others by telephone — described the scam’s toll: wiping out nest eggs, depleting charities and wrecking lives. One told the judge in a letter that he contemplated suicide after his father lost his retirement money in the scheme.
Engelmayer said at a daylong sentencing hearing in Manhattan federal court that the government’s recommendation of 12 years in prison was “unreasonably lenient” and that the defense’s request for five years was “utterly unthinkable and wildly unreasonable.” Kwon faced a maximum sentence of 25 years in prison.
“Your offense caused real people to lose $40 billion in real money, not some paper loss,” Engelmayer told Kwon, who sat at the defense table in a yellow jail suit. The judge called it “a fraud on an epic, generational scale” and said Kwon had an “almost mystical hold” on investors and caused incalculable “human wreckage.”
More than the combined losses in FTX and OneCoin cases
Kwon pleaded guilty in August to fraud charges stemming from the collapse of Terraform Labs, the Singapore-based firm he co-founded in 2018. The loss exceeded the combined losses from FTX founder Sam Bankman-Fried and OneCoin co-founder Karl Sebastian Greenwood’s frauds, prosecutors said. Engelmayer estimated there may have been a million victims.
Terraform Labs had touted its TerraUSD as a reliable “stablecoin” — a kind of currency typically pegged to stable assets to prevent drastic fluctuations in prices. But prosecutors say it was an illusion backed by outside cash infusions that came crumbling down after it plunged far below its $1 peg. The crash devastated investors in TerraUSD and its floating sister currency, Luna, triggering “a cascade of crises that swept through cryptocurrency markets.”
Kwon tried to rebuild Terraform Labs in Singapore before fleeing to the Balkans on a false passport, prosecutors said. He’s been locked up since his March 2023 arrest in Montenegro. He was credited for 17 months he spent in jail there before being extradited to the US
Kwon agreed to forfeit over $19 million as part of his plea deal. His lawyers argued his conduct stemmed not from greed, but hubris and desperation. Engelmayer rejected his request to serve his sentence in his native South Korea, where he also faces prosecution and where his wife and 4-year-old daughter live.
“I have spent almost every waking moment of the last few years thinking of what I could have done different and what I can do now to make things right,” Kwon told Engelmayer. Hearing from victims, he said, was “harrowing and reminded me again of the great losses that I have caused.”
Victims say losses ruined their lives, harmed charities
One victim, speaking by telephone, said his wife divorced him, his sons had to skip college, and he had to move back to Croatia to live with his parents after TerraUSD’s crash evaporated his family’s life savings. Another said he has to “live with the guilt” of persuading his in-laws and hundreds of nonprofit organizations to invest.
Stanislav Trofimchuk said his family’s investment plummeted from $190,000 to $13,000 — “17 years of our life, gone” during what he described as “two weeks of sheer terror.”
Chauncey St. John, speaking in court, said some nonprofits he worked with lost more than $2 million and a church group lost about $900,000. He and his wife are saddled with debt and his in-laws have been forced to work well past their planned retirement, he said.
Nevertheless, St. John said, he forgives Kwon and “I pray to God to have mercy on his soul.”
A prosecutor read excerpts from some of more than 300 letters submitted by victims, including a person identified only by initials who lost nearly $11,400 while juggling bills and trying to complete college. Kwon had made Terra seem like a safe place to stash savings, the person said.
“To some that is just a number on a page, but to me it was years of effort,” the person wrote. “Watching it evaporate, literally overnight, was one of the most terrifying experiences of my life.”
“What happened was not an accident. It was not a market event. It was deception,” the person added, imploring the judge to “consider the human cost of this tragedy.”
Kwon created an “illusion of resilience while covering up systemic failure,” Assistant US Attorney Sarah Mortazavi told Engelmayer. “This was fraud executed with arrogance, manipulation and total disregard for people.”
