Judge set to rule in Trump's $370 million civil fraud case
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[February 16, 2024]
By Jack Queen
(Reuters) - A New York state judge is expected to rule on Friday in a
$370 million civil fraud case against former U.S. President Donald
Trump, who is accused of inflating his net worth to dupe bankers into
giving him better loan terms.
Justice Arthur Engoron's ruling could deal a major blow to Trump's real
estate empire as the businessman turned politician seeks the Republican
nomination to challenge Democratic President Joe Biden in the Nov. 5
U.S. election. |
![](../images/021624PIX/news_x16.jpg)
U.S. President Donald Trump and Justice Arthur Engoron of the state
Supreme Court listen to opening arguments from his lawyer Alina Habba
(not seen), during the trial of Trump, his adult sons, the Trump
Organization and others in a civil fraud case brought by state Attorney
General Letitia James, at a Manhattan courthouse, in New York City,
U.S., October 2, 2023 in this courtroom sketch. REUTERS/Jane
Rosenberg/File Photo |
The lawsuit brought by New York Attorney General Letitia James
accused Trump and his family businesses of overstating his net
worth by as much $3.6 billion a year over a decade. Trump has
denied wrongdoing and called the case a political vendetta by
James, an elected Democrat.
In addition to monetary penalties, James is seeking to
permanently ban Trump from New York's real estate industry and
sharply limit his ability to do business in the state. She is
also seeking five-year industry bans for Trump's two adult sons,
Don Jr. And Eric, who are also defendants in the case.
Engoron ruled in September that Trump had engaged in fraud and
ordered his business empire be partially dissolved. The full
implications of that order are still unclear, and Trump is
appealing.
The ruling expected Friday comes after a contentious three-month
trial in Manhattan.
During defiant and meandering testimony in November, Trump
conceded that some of his property values were inaccurate but
insisted banks were obligated to do their own due diligence.
He used his occasional court appearances as impromptu campaign
stops, delivering incendiary remarks to reporters and insisting
his enemies are using the courts to prevent him from retaking
the White House.
Trump is cruising to the Republican nomination despite a host of
other legal troubles.
He is under indictment in four criminal cases, including one in
New York related to hush money payments he made to a porn star
ahead of the 2016 election. The judge overseeing that case on
Thursday set a March 25 trial date over the objections of
Trump's lawyers, who sought to delay it due to Trump's crowded
legal and political schedule.
Trump has also been charged in Florida for his handling of
classified documents upon leaving office and in Washington and
in Georgia for his efforts to overturn his 2020 election loss.
Trump has pleaded not guilty in all four cases.
(Reporting by Jack Queen; Editing by Chris Reese)
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