One of the sons, #EricTrump, is the #TrumpOrganization’s de facto chief executive, & the ruling throws into doubt whether any member of the family can run the business in the near term.
#Trump will appeal the financial penalty — which could climb to $400 million or more once interest is added — but will have to either come up w/ the money or secure a #bond within 30 days. The ruling will not render him bankrupt, because most of his wealth is tied up in real estate.
#Trump will also most likely ask an appeals court to halt the restrictions on him & his sons from running the company while it considers the case.
But there might be little Trump can do to thwart one of the judge’s most consequential punishments: extending for 3 years the appointment of an independent monitor who will be the court’s eyes & ears at the #TrumpOrganization, watching for #fraud & second-guessing transactions that look suspicious.
"One of the things that it points to, and maybe the thing that's most troubling about it, is for years it's been understood that one of the business entities in the #TrumpOrganization loaned former president #Trump personally $48 million," she said. "According to Judge Jones in a footnote in this letter, she could never find, no matter how many times she asked, documentation of that loan and was later told, essentially, that the loan didn't exist."
Weisselberg, the fmr CFO at #TrumpOrganization, also would have to say that he lied under oath during in an interview with the #NYAG’s office, which brought the civil fraud case.
New York Supreme Court Justice Arthur #Engoron, who oversaw the 3-month bench #trial, had previously said he aimed to issue his verdict in the case by the end of Jan.
That's no longer the plan. The written verdict is now expected to hit the electronic court docket on or around Feb 5.
The detail came in a letter Jones filed on Fri to update NY Judge #Engoron, first reported by The Messenger, on her efforts to get a full & clear accounting of the #TrumpOrganization’s assets. The letter claims…that #Trump & co have filed statements containing inconsistencies & errors, but have been “cooperative”….
But Jones tucked a major revelation into footnote 6, writing that a massive…debt Trump has claimed to owe 1 of his own companies for yrs apparently does not exist, & never did.
"If true, 'that would essentially be an admission from the #TrumpOrganization that all the financial disclosures Trump has filed with the federal government listed an entirely fictional debt worth tens of millions of dollars, which Trump claimed he personally owed to one of his own companies,'”
#Trump lashes out at financial monitor in business #fraud case after she reports errors
Trump lashed out at the financial #monitor overseeing the #TrumpOrganization & urged a judge to end the watchdog's oversight of his company.
The request came days after Barbara Jones reported a range of issues — including an errant $48 million loan — in TFG's #NewYork#civil business fraud case.
Combative, angry & prone to grandiose claims — newly unveiled footage of an April 2023 deposition gives a glimpse into how Trump behaves when #testifying#UnderOath.
The video #deposition , released to CBS News on Friday in response to a freedom of information request, shows #Trump claiming to have averted a "nuclear holocaust" & "saving millions of lives" as president. A transcript of the deposition was previously made public as an exhibit in Trump's #NewYork#civil#fraud case.
…”I was very busy. I considered this the most important job in the world, saving millions of lives. I think you would've had nuclear holocaust if I didn't deal w/ North Korea. I think you would've had a nuclear war if I weren't elected. And I think you might have a nuclear war now, if you want to know the truth," #Trump said.
Closing statements concluded Thurs in #NY state’s $370M #civil#fraud#trial against #Trump, #TrumpOrganization & others.
Trump’s defense gave closing statements Thurs morning, echoing his claims the case was politically motivated & the AG was “weaponizing a consumer protection statute” against him. Attys for the AG gave closing statements after lunch, arguing the “most critical” claims against Trump were “undisputed.”
#Trump Launches into Courtroom Tirade About ‘Witch Hunt’ Fraud Case, Claiming He Deserves Damages
Trump didn't wait for the judge's permission before reciting a roughly 5-min rant that he's being 'persecuted'
A litany of personal grievances, Trump's speech appeared to ignore every ground rule #Engoron laid out in an email laying out the conditions for his remarks.
Testimony concluded Wed in a $250M #cuvil#fraud#trial against #Trump & his company in #NewYork state, a case in which the judge may issue a bench verdict in January.
The trial stems from a #lawsuit filed by #NYAG#LetitiaJames (D) last year alleging that Trump & executives at the #TrumpOrganization purposely deceived #lenders & #insurance companies over the course of a decade.
“In a strange way I’m going to miss this trial,” Justice #Engoron quipped Thurs, before the final witness took the stand. The witness was a rebuttal expert called by #NYAG.
Before the trial, Engoron decided a significant portion of the case by finding #Trump & the other defendants #liable for committing #fraud. As part of that decision, he ordered the cancellation of some #TrumpOrganization#business certificates & directed that a receiver be appointed to oversee #dissolution of those entities.
Judge Arthur #Engoron denied Donald #Trump's request for a #mistrial, describing the defendants' arguments as "nonsensical," "disingenuous," & "utterly without merit."
#Kise started by arguing the standard of proof on the 6 claims at issue requires "clear & convincing evidence," which he says the #NYAG didn’t provide.
Kise: “The attorney general has converted standard commercial real estate loan transactions into fraud not based on what the bank says but what she says.”
(#fraud was already decided, as a matter-of-#law, before this trial.)
Thankfully, Justice #Engoron agreed w/ #Kise as well & said he's only going to base his #ruling on what's in front of him, meaning the #evidence presented in this #trial.
#Trump atty moved on to #disgorgement (the #NYAG is seeking $250M in purportedly ill-gotten gains from Trump et al).
Kise: “There's no demonstration of a [connection] between the purported ill-gotten gains & the defendants' (conduct).”
#Kise argued any transaction before July 2014 cannot form the basis for any of the #NYAG's claims, since they're outside of the statute of limitations.
Kise also argued that subsequent certifications by #Trump et al regarding compliance w/the terms of loans from that time cannot be used to support the allegations either.
(re SOL, Trump attys may be banking on the appeals court stay, but that wasn’t based on SOL, but procedural & still undecided.)
Re #DonaldTrumpJr, Robert pointed to his testimony about his process for certifying the statements of financial condition. Jr didn't recall specifics, but testified that he would have sat w/the finance team at the #TrumpOrganization, or #Mazars accountants, & asked them questions.
Jr said if those individuals, w/their expertise, convinced him that everything was fine, he would have signed the certifications of #Trump's statements of financial condition.