A New York state judge, Arthur Engoron, is set to determine the fate of Donald Trump’s business empire following an 11-week trial. The judge will rule on the amount of money Trump and his co-defendants owe for alleged fraud and whether the former president can continue doing business in the state. Engoron has already concluded that Trump engaged in fraud.
The civil lawsuit, filed by New York Attorney General Letitia James, seeks $370 million in disgorgement from Trump and the other defendants. The lawsuit alleges that Trump submitted fraudulent financial statements to obtain loans and insurance at more favorable rates. The trial focuses on Trump’s Trump Tower apartment, Mar-a-Lago estate, and several golf courses, among other assets.
Engoron has already ordered the dissolution of Trump’s business empire, including the Trump Organization, pending Trump’s appeal. He has also canceled business certificates for many of Trump’s entities in New York, such as Trump Tower and 40 Wall Street. Engoron has called for a receiver to oversee the dissolution of these entities.
The upcoming ruling will address six additional claims, including conspiracy, issuing false financial statements, falsifying business records, and insurance fraud. The attorney general’s office argued that Trump intentionally inflated the value of his assets in his financial statements. They hold Trump responsible for the fraudulent conduct of Trump Org. executives Allen Weisselberg and Jeff McConney.
Engoron’s criticism of Trump has been evident throughout the trial. He described Trump’s world as a “fantasy world” in which rent-regulated apartments are valued the same as unregulated apartments and restrictions can disappear. In December, Engoron denied Trump’s attempt to dismiss the case, stating that a lie is still a lie.
In addition to banning Trump from doing business in New York for life, the attorney general is seeking a five-year ban for Donald Trump Jr. and Eric Trump, the co-CEOs of the Trump Org. Engoron questioned whether Trump’s adult sons were aware of the fraud and conspiracy allegations.
Ivanka Trump was initially named as a defendant but was dismissed from the case due to the statute of limitations. Throughout the trial, Trump has portrayed it as a political prosecution and accused the attorney general and White House of colluding against him.
Legally, Trump argues that there is no proof of an intent to defraud and that lenders should have conducted their due diligence. He claims that companies like Deutsche Bank willingly entered into deals with Trump Org.
Trump has already appealed Engoron’s previous ruling and has vowed to appeal any future decisions. The timeline for implementing a decision is uncertain.
Engoron’s handling of the trial has led to a gag order and fines against Trump. The judge and his clerk have received death threats, with Engoron even being “swatted” on the day of closing arguments. The gag order prohibits Trump and his attorneys from commenting on the judge’s private communications with his law clerk.
As the trial nears its end, Engoron expressed mixed feelings, stating that he will miss the experience. The judge’s ruling will have significant implications for Trump’s business empire and his reputation as a successful billionaire.
In conclusion, Judge Arthur Engoron’s upcoming ruling in the fraud lawsuit against Donald Trump will determine the financial consequences for Trump and his co-defendants, as well as whether Trump can continue doing business in New York. The trial has exposed allegations of fraud regarding Trump’s assets, and Engoron has already ruled that Trump engaged in fraudulent activities. The judge’s decision will have far-reaching implications for Trump’s business empire and his image as a successful billionaire.