Trump's Legal Team Slams Ex-President's Comparision To 'Pharma Bro' Martin Shkreli In Civil Fraud Trial: 'Misplaced And Irresponsible'

In the ongoing civil fraud trial, the legal team of former President Donald Trump has rejected the comparison of their client to notorious “Pharma Bro” Martin Shkreli, labeling it as ‘irresponsible’. The verdict is anticipated by January 31.

What Happened: Trump is confronting a $370 million civil lawsuit in New York. The lawsuit accuses Trump, his sons Eric Trump and Donald Trump Jr., and other top executives of the Trump Organization of a decade-long scheme of fraud and misrepresentation to inflate Trump’s net worth for more favorable loan terms, reported ABC News.

Trump’s defense team has refuted all allegations, contending that the inflated valuations were a result of Trump’s business acumen. The trial follows a partial summary judgment that found Trump had submitted “fraudulent valuations” for his assets.

On Tuesday, New York Attorney General Letitia James cited a ruling involving Martin Shkreli, arguing for a lifetime real estate ban for Trump. Defense attorney Clifford Robert responded on Wednesday, calling the comparison “misplaced and irresponsible.”

Robert argued that Trump’s fraud case lacks witnesses, complaints, and victims compared to Shkreli’s case. He also warned of the “sobering future consequences” of the Attorney General’s “shameless abuse of power.”

Trump attorney Chris Kise reportedly said that the ruling in Trump’s case could have far-reaching implications for the New York business community. He urged major bank CEOs and Wall Street participants to speak out against the Attorney General’s “shocking and tyrannical interference in the capital markets.”

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Why It Matters: The comparison to Shkreli, who was recently banned for life from the pharmaceutical industry, is significant. Shkreli, known for his “particularly heartless and coercive” tactics in monopolizing the antiparasitic drug Daraprim, served more than four years of his seven-year sentence for fraud before being released to a halfway house in 2022.

Trump’s case has been contentious, with the former President proclaiming his innocence in court and invoking his Fifth Amendment rights during a deposition by New York Attorney General lawyers. The outcome of this case could set a precedent for future fraud cases involving high-profile business figures.

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