Investigating financial fraud
A US judge found Trump liable
September 26, 2023, 11:56 pm
Starting next week, Donald Trump will be on trial in New York. The civil case related to financial embezzlement through his family business. An important initial decision has now been made. It could prove costly for the former president and his sons.
Former US President Donald Trump has suffered a serious legal defeat in the New York fraud case. Judge Arthur Engoren ruled that the businessman and his family business could be held liable for fraud. It brings significant procedural simplifications to the Public Prosecutor’s Office in civil proceedings. The trial in the main case is set to begin on Monday. Judgment may essentially be confined to the question of punishment.
Judge Engoron ordered the cancellation of business certificates for the Trump Organization and other defendant entities and fined Trump’s lawyers. They contributed to the “unruly” behavior of their clients and presented “absurd” legal arguments during the trial. Trump has yet to comment on the judge’s ruling. Republicans have denied the allegations — as have his other actions.
The Trumps are threatened by high repayment demands
New York Attorney General Letitia James sued the now 77-year-old and the family company named after him for fraud in September 2022. His older sons, Donald Jr. and Eric Trump, have also been charged. Daughter Ivanka has now been removed from the case.
According to James, a Democrat, Trump allegedly inflated his assets by $3.6 billion to get the loans more cheaply, among other things. The manipulation reportedly continued for more than a decade. James’ civil suit sought to permanently bar Trump and his children from operating businesses in New York state. The Trumps are expected to repay at least $250 million. There is no threat of imprisonment for criminals.
It was initially unclear whether major operations could begin as planned on October 2. A state appeals court three months ago found that some of the charges are now statutory. Trump accused Engoron and James of ignoring that ruling and requested a postponement of the hearing. A decision from the Court of Appeal is expected later this week. Despite this and other actions against him, Trump remains the front-runner for the Republican presidential nomination ahead of the early November 2024 election.
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