Posted on 02/16/2024 11:11:57 AM PST by Red Badger
KEY POINTS
New York Attorney General Letitia James accused former President Donald Trump, his company and others of fraudulently inflating Trump’s assets to boost his net worth and get financial perks.
Manhattan Supreme Court Judge Arthur Engoron had found Trump and his co-defendants liable for fraud before the case went to trial.
Trump is the clear front-runner for the Republican presidential nomination, setting up a likely rematch with President Joe Biden.
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A judge could deliver a hammer blow to Donald Trump and his company when he issues a decision in the New York civil trial accusing the former president of years of business fraud.
The ruling from Manhattan Supreme Court Judge Arthur Engoron is expected to be announced Friday afternoon. Engoron will deliver the ruling, as the trial was held without a jury.
The explosive trial stemmed from New York Attorney General Letitia James’ lawsuit accusing Trump, his two adult sons, his company and top executives of fraudulently inflating Trump’s assets to boost his stated net worth and obtain various financial perks.
Friday’s decision would be the latest court-ordered punishment imposed on Trump, who is running for president while dealing with numerous criminal and civil lawsuits. Last month, a jury in a separate civil case in New York federal court ordered Trump to pay $83.3 million for defaming writer E. Jean Carroll when he responded to her claim that he had raped her in the mid-1990s.
Trump is the clear front-runner for the Republican presidential nomination, setting up a likely rematch with President Joe Biden, who beat him in 2020.
Trump has frequently raged against his many legal battles as “witch hunts,” claiming they are part of a Biden administration-backed conspiracy to tank his political ambitions.
He vociferously denies all wrongdoing in the New York fraud case, blaring his claims of total innocence on social media, at the courthouse and even on the witness stand.
Trump claimed to be worth far more than what was reported on his financial statements, while asserting that a disclaimer on the records protected him from liability for any inaccuracies.
But Trump and the other defendants were found liable for fraud by Engoron before the trial even began.
In a bombshell pre-trial ruling, Engoron granted summary judgment on James’ main cause of action — that the defendants committed fraud in violation of New York law.
Engoron found that Trump’s statements of financial condition between 2014 and 2021 overvalued his assets between $812 million and $2.2 billion.
The ruling razed Trump’s defense claims, accusing him and his co-defendants of trying to convince the court to “not believe its own eyes.”
Engoron also ordered the cancellation of the defendants’ business certificates and the appointment of an independent receiver to manage the dissolution of Trump’s corporate entities. Some experts have described the ruling as a “death penalty” for the Trump Organization.
But that order was put on hold during the trial, which was conducted to determine the amount to be paid in penalties and resolve other claims of wrongdoing from James’ lawsuit.
The trial also doubled as a soapbox for Trump to air his grievances about his perceived political foes — including those sitting feet away from him in court.
On the witness stand, Trump railed against Engoron and James while defending the values that were reported on his statements of financial condition. Trump also tore into another key witness, his former fixer and personal lawyer Michael Cohen, who testified that Trump had directed him to falsely manipulate his net worth.
Trump’s venting brought consequences: On the second day of the trial, Engoron imposed a narrow gag order after Trump repeatedly targeted the judge’s principal law clerk, Allison Greenfield, who sat in court.
Trump violated the gag order twice within four weeks, catching fines totaling $15,000.
This is breaking news. Please check back for updates.
Over 350 million dollar judgment against Trump, his sons and the cfo
https://t.co/pc6pyMUg8W pic.twitter.com/5IsZLLwMfT— Steve Lookner (@lookner) February 16, 2024
Nothing yet about taking his businesses from him trump isn’t going to pay a dime this will be appealed
No corporate death penalty, but restrictions apparently.
Was this trial without a jury a choice by Trump?
Trumps attorneys didn’t ask for one, but the judge stated it wouldn’t have mattered anyway. From my recollection.
It was a civil matter...............
“Water buffalo pronouns.” I love it. LOL.
Ghettopotami. /grammar nazi
State of New Your changes statute of limitations so the liar could file her case against President Trump, then change it back after she files. The case is bogus because there is no evidence and no witnesses. Heck, the dress she tried to pass off as evidence hadn't even been designed till years later. President Trump is so outraged by the injustice, he calls her a name and gets convicted of defaming her to the tune of $83M, with no conviction of the sexual assault charge.
Thank you Sir for the correction. That even makes the term funnier. LOL.
“HOW quickly can TRUMP get this all-—ALL of these cases in front of the USSC?”
This one will almost certainly never get to the US Supreme Court. It’s a state matter involving a state statute, it would only be able to get to the USSC on appeal from the NY Court of Appeals (its highest court), and only if a federal statutory or constitutional question comes into play, which I cannot see.
“I DO NOT understand how a judge can make a ruling BEFORE a trial”
Happens all the time. It’s called summary judgment, the judge rules that based on the evidence there is nothing for a trial to prove. In legal parlance it’s granted when “there are no material issues of fact in and the moving party is entitled to judgment as a matter of law.” Of course in this case I think the granting of it was wrong, but there’s nothing wrongful with summary judgment per se. The trial was solely on damages.
“Nothing yet about taking his businesses from him trump isn’t going to pay a dime this will be appealed”
The appeals court has already denied two appeals from him. I don’t see it going well for Trump there either.
Get out your wallets folks. Forego bowling or spending $300 on dinner out this Saturday and send it to Trump instead. He is going to need it.
k I was wrong. Big news for lefties to toast to in their weekend enclaves.
don’t think it will stand an appeal — in a halfway just world, caveat there.
I can’t see how that can stand, I really can’t. The corruption in this case is blatant as hell, so can’t he appeal this to a higher court NOT affiliated with New York?
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