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download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The bond sets the money aside — untouchable by either Trump or state officials — while he appeals the case. James' office had pushed back against lowering the bond amount, arguing that should Trump lose on appeal, state officials would need to chase him for whatever money he owes. With the interest stacking up every day, he's betting pretty big on winning this appeal. If Trump loses his appeal, he and his associates will then owe the remaining amount, plus interest.

Persons: —, Donald Trump, Judge Arthur Engoron, Trump, Engoron's, Alina Habba, Letitia James, James Organizations: Service, Insurance Company, Business, Knight Insurance, Trump, Trump Organization Locations: New York, Manhattan, Los Angeles

☆ How NY's Judge Engoron is tightening the leash on Trump ahead of looming Truth Social merger and fraud judgement deadline
▼ + stars: | 2024-03-21 | by ( Laura Italiano | ) www.businessinsider.com time to read: +5 min

There are currently 415 entities — including the LLCs holding his physical properties — under the Trump Org umbrella. Trust Revocable Trust, which holds all of Trump Org's assets and for which Trump is the sole beneficiary. The judge also ordered on Thursday that Trump foot the bill for the additional staff needed for this extra monitoring. More penaltiesViolations of Thursday's order could result in the judge ordering more penalties against Trump Org, the judge warned. Trump and his three codefendants — Donald Trump, Jr., Eric Trump, and former Trump Org CFO Allen Weisselberg — owe a combined fraud-trial penalty of $467 million as of Thursday, according to a penalty calculator maintained by the Associated Press.

Persons: —, Donald Trump's, Trump's, Barbara Jones —, who's, Arthur Engoron, Trump, Engoron, Donald J, Jones, Letitia James, — Donald Trump , Jr, Eric Trump, Allen Weisselberg —, he's Organizations: Service, Wall Street, Business, Trump Organization, Trump Org, Trump, Trump's, Revocable Trust, New York, Associated Press, New, Bloomberg Locations: Trump's, New York, Westchester County, Manhattan, Seven Springs

☆ Trump’s New York properties may be on the chopping block soon
▼ + stars: | 2024-03-19 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

New York CNN —Former President Donald Trump doesn’t have the cash he needs to stop the state of New York from potentially seizing his assets. In a court filing Monday, Trump’s lawyers laid out the stark economic reality facing the leading Republican candidate for president. Trump’s lawyers, for their part, say the ruling is unprecedented and underwriters don’t write checks that big — even to billionaires. What could happen to Trump’s properties? James has made it clear she won’t hesitate to go after Trump’s properties if he doesn’t come up with the cash.

Persons: CNN Business ’, Donald Trump doesn’t, Arthur Engoron, Trump, Letitia James, underwriters don’t, James, “, ”, Temidayo Aganga, Williams, Selendy Gay, Judge Engoron, Jean Carroll, Banks, ” Aganga, they’re, who’d, Mitchell Epner, Rottenberg Lipman Rich, underwriters Trump, Engoron, ” Epner, Tish James Organizations: CNN Business, New York CNN, Republican, Trump, New York, underwriters, ABC, ABC News, Financial, Trump Organization, “, Forbes Locations: New York, York

☆ Judge Engoron’s ruling: What will it mean for Donald Trump’s businesses?
▼ + stars: | 2024-02-17 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +5 min

There is still a lot to parse from the ruling and its potential impact on Trump’s business empire, but here’s what we know so far. And Trump himself might have been permanently barred from the New York state real estate industry, something James had requested. The ruling extended the monitor’s role “for no less than three years.”That new governance structure is the reason Judge Engoron cited for not cancelling the Trumps’ business certificates. “The court’s decision to impose governing requirements [on Trump’s businesses] makes the injunction more likely to survive appeal,” Thomas said. First, at the Appellate Division and then at the New York State Court of Appeals.

Persons: Donald Trump, Trump, Donald Jr, Eric, — Trump, Judge Arthur Engoron, Letitia James, “ Trump, ”, Will Thomas, Ross, James, David Cay Johnston, Engoron, “, ” Thomas, can’t, It’s, it’s, recently, Jean Carroll, Thomas, he’s, Johnston Organizations: New, New York CNN, Trump Organization, New York, New York State, University of Michigan’s Ross School of Business, Trump, Independent Monitor, Appellate Division, of Appeals Locations: New York, New York State, ”

☆ AOC's questions years ago helped spark the investigation into Trump's business. Now, he's been ordered to pay $355 million.
▼ + stars: | 2024-02-17 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +3 min

As part of Friday's fraud trial verdict, Donald Trump has been ordered to pay $355 million to the state of New York. This saga started in 2019 when Alexandria Ocasio-Cortez grilled Trump attorney Michael Cohen. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. And the case may have never happened if, years ago, a newly-elected member of Congress from Trump's home state hadn't grilled Michael Cohen on Trump's finances. Representatives for Ocasio-Cortez, Trump, and James did not immediately respond to a request for comment from Business Insider.

Persons: Donald Trump, Letitia James, Alexandria Ocasio, Cortez, Trump, Michael Cohen, —, Arthur Engoron, ” Trump, Cortez —, William Lacy Clay, James, Cohen, Allen Weisselberg, Ron Lieberman, Matthew Calamari, Weisselberg, Engoron, Robert's Organizations: Service, New, Rep, Trump, Trump Org, Trump Organization, Ocasio, Business Locations: New York, Alexandria, Cortez

A New York judge on Friday ordered former President Donald Trump to pay $364 million in damages for fraud he committed by inflating his net worth to obtain favorable treatment from banks and insurers. The blistering 92-page ruling from Judge Arthur Engoron was replete with references to the brazen nature of the misdeeds of Trump, his adult sons and his business organization. Here are nine key quotes from Engoron’s ruling. The frauds found here leap off the page and shock the conscience.”On the reaction of Trump and his adult sons:“Their complete lack of contrition and remorse borders on pathological. Donald Trump is not Bernard Madoff.

Persons: Donald Trump, Judge Arthur Engoron, Trump, Justice Potter Stewart, ”, “, Bernard Madoff, ’, “ Donald Trump, Trump’s, Ivanka Trump, Rosemary, ” Ivanka Trump, fraudsters, Eli Bartov’s, Bartov, “ John Shubin, Mr, Shubin, Robert Unell, Unell, Birney, Donald Trump’s, Whitley Penn, Donald Bender, Mazars, Allen Weisselberg doesn’t, Allen, Weisselberg Organizations: United States Supreme, Trump Organization, ”, Trump, Deutsche, OAG, trifles, Allen Weisselberg’s Locations: York, ”, New York, ’

☆ What about Don Jr.? What about Eric? Why Judge Engoron gave them lighter penalties than dad.
▼ + stars: | 2024-02-16 | by ( Laura Italiano | Jacob Shamsian | ) www.businessinsider.com time to read: +7 min

Donald Trump, Jr., and Eric Trump are executive vice presidents at the Trump Organization. AdvertisementSince January of 2017, Donald Trump, Jr., and Eric Trump have run their father's real-estate empire as "co-CEOs," as lawyers for New York's attorney general like to call it. "I was focused on pouring concrete," Eric Trump had said in a pre-trial deposition, during which he pleaded the Fifth some 500 times. Like his little brother, Don Trump, Jr., was guarded when called to the witness stand. In the litigation with the New York attorney general's office, Eric Trump and Donald Trump, Jr. have been primarily represented by Clifford S. Robert.

Persons: Donald Trump , Jr, Eric Trump, Don Jr, Eric, —, Donald Trump Jr, Arthur Engoron, Trump, Donald Trump, KENA BETANCUR, Letitia James, Engoron, James, Andrew Amer, Amer, that's, It's, Whitley Penn, Don Trump, Jr, David Dee Delgado, Ivanka Trump, Allen Weisselberg, Jeff McConney —, Barron, Tiffany Trump, Clifford S, Robert Organizations: Trump Organization, Service, New, Trump, Getty, — Locations: New York, York, AFP, Springs

☆ The Trump fraud trial verdict goes well beyond ordering the ex-president to pay $355 million. Here's what the ruling means.
▼ + stars: | 2024-02-16 | by ( Laura Italiano | Jacob Shamsian | ) www.businessinsider.com time to read: +6 min

While Trump is personally on the hook for almost $355 million of that penalty, Donald Trump, Jr., and Eric Trump must pay $4 million each. It targets his real-estate and golf resort empire, the Trump Organization, and does so in two ways that Trump has pushed against for years. AdvertisementIn a statement, a Trump Organization spokesperson decried the verdict as a "gross miscarriage of justice." Donald Trump, Jr., and Eric Trump are banned from running a New York business for two years. And it bans the two former executives, ex-CFO Allen Weisselberg and ex-Controller Jeff McConney, from controlling the finances of another New York company.

Persons: —, Donald Trump's, Arthur Engoron, Trump, Donald Trump , Jr, Eric Trump, Allen Weisselberg, Letitia James, James, Judge Engoron, Donald Trump, Bernard Madoff, Read, Jeff McConney Organizations: Service, New York, Business, Trump, Trump Organization, Trump Org, New Locations: York, Trump Organization's, Manhattan, New York

☆ Watch an irate Donald Trump face off against Letitia James in newly-released deposition videos
▼ + stars: | 2024-01-20 | by ( Hannah Getahun | Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

As part of his New York fraud trial, Donald Trump underwent a 7-hour deposition in April. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementVideos of Donald Trump's April deposition released Friday show the former president rarely cracked a smile when facing off against New York Attorney General Letitia James. In the videos, the former president becomes increasingly annoyed with lawyers for James as they try to get through questions. He also briefly smirks at James when the attorney general insists she is "committed to a fair and impartial legal process."

Persons: Donald Trump, —, Donald Trump's, Letitia James, Trump, Arthur Engoron, Rather, James, shrugging, Kevin Wallace, Judge Engoron Organizations: Service, New York, Trump Organization, Trump, Business, Representatives Locations: York, James

☆ Donald Trump wants to deliver his own NY fraud-trial closing arguments, but the judge would have to let him
▼ + stars: | 2024-01-10 | by ( Laura Italiano | ) www.businessinsider.com time to read: +4 min

Trump wants to deliver part of his NY fraud trial closing statements himself, ABC News reported Tuesday. Under state civil-practice rules, defendants can help make closing arguments with court approval. AdvertisementFormer President Donald Trump wants to deliver part of his New York fraud trial closing arguments himself on Thursday, ABC News reported. There would be little downside for the judge in approving Trump's request, he added, noting, "He'd never be reversed on appeal over this." AdvertisementIn delivering closing arguments, Trump would be bound by the same rules as an attorney would, Kuby said.

Persons: Trump, —, Donald Trump, Arthur Engoron, Alina Habba, Ron Kuby, Engoron, Kuby, He'd, Michael Farkas, it's, Farkas, Letitia James, James, Allen Weisselberg, Jeff McConney Organizations: ABC News, Service, New, Trump, New York Law, Civil, New York, Trump Organization, Trump Org Locations: York, New York City, New

☆ Not having a jury has turned Trump's fraud trial into an ugly screwball comedy
▼ + stars: | 2023-11-16 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +13 min

Trump's lawyers complain to New York Supreme Court Justice Arthur Engoron that their gag order prevents them from complaining more. With no jury, Trump is the audienceThe trial is a bench trial, meaning there's no jury. he quipped to one of Trump's lawyers, Christopher Kise, who had objected to one of his rulings about how to structure several questions. AdvertisementJudge Arthur F. Engoron presides over former President Donald Trump's civil business fraud trial at the New York Supreme Court. Trump's lawyers have hemmed and hawed about Greenfield, Engoron's principal law clerk, who has donated to Democratic politicians.

Persons: Trump's, there's, —, Donald Trump, Arthur Engoron, Michael Cohen's, Trump, Letitia James, Engoron, James, Eric Trump, Donald Trump , Jr, Allen Weisselberg, Jeff McConney —, Jamie White, litigator, who's, White, Alina Habba, Christopher Kise, Seth Wenig Engoron, Kise, He's, Randy Zelin, Hillary Clinton, Engoron's, Allison Greenfield, — Trump, Arthur F, Donald Trump's, Mike Segar, Jean Carroll, Carroll, defaming, Trump —, Lewis Kaplan, Kaplan, Donald Trump Jr, David Dee Delgado, Zelin, he's Organizations: Service, Trump Organization, New York, York, AP, US Justice Department, Cornell Law School, Fox News, New York Supreme, Trump, Democratic Locations: York, Manhattan, New, New York, earshot, Greenfield, Woodstock

Nov 13 (Reuters) - Donald Trump Jr. testified on Monday about what he called the "sexiness" of his father's real estate portfolio, in his second time taking the stand in the former U.S. president's civil fraud trial. Donald Jr. said the "sexiness" of his father's real estate projects attracted licensing deals with other developers who wanted to emulate his style. "Let him go ahead and talk about how great the Trump Organization is," said Engoron, who has defended himself during the trial from allegations of bias from Trump and his lawyers. Donald Jr., Eric and Ivanka Trump said they were not involved in preparing their father's financial statements and left bookkeeping at the Trump Organization to accountants. Engoron has ordered the dissolution of companies that control pillars of Trump's real estate portfolio, including Trump Tower in Manhattan.

Persons: Donald Trump Jr, Donald Trump, Letitia James, Trump, Clifford Robert, Donald Jr, James, Arthur Engoron, Engoron, Colleen Faherty, Jane Rosenberg, Eric Trump, Ivanka Trump, Eric, Joe Biden, Jack Queen, Noeleen Walder, Daniel Wallis, Nick Zieminski, Jonathan Oatis Organizations: New York, Trump, Trump Organization, Court, REUTERS, Democratic, Republican, Thomson Locations: U.S, Manhattan, Hawaii, New York, New York City

☆ Eric and Donald Trump Jr. testified — within an hour of each other — that they had nothing to do with their father's net worth statements
▼ + stars: | 2023-11-02 | by ( Paul Squire | ) www.businessinsider.com time to read: +2 min

Donald Trump's adult sons, Eric and Don Jr., both took the stand at his fraud trial on Thursday. Ivanka Trump and Donald Trump himself are scheduled to testify next week. Prosecutors noted that he had signed off on documents, but again Donald Jr. testified he trusted the lawyers and accountants who prepped the papers. Less than an hour after prosecutors wrapped up the first son's testimony, Eric Trump took the stand and insisted he, too, had nothing to do with the documents. November 2, 2023: This story has been updated with additional context and clarifications about Eric Trump and Donald Trump Jr.'s statements in court.

Persons: Donald Trump's, Eric, Don Jr, Ivanka Trump, Donald Trump, —, Donald Trump Jr, Don . Jr, Donald Jr, Judge Engoron, Eric Trump, Eric —, didn't, Trump Organizations: Service, NY, Mazars, Prosecutors, Trump Organization Locations: Manhattan

☆ Judge Engoron comes thisclose to accusing Trump of perjury in a written order
▼ + stars: | 2023-10-26 | by ( Laura Italiano | ) www.businessinsider.com time to read: +7 min

Trump's testimony in a gag order hearing at his NY fraud trial "rings hollow and untrue," the judge writes. In the order, Engoron says Trump gave testimony that "rings hollow and untrue" after being suddenly called to the witness stand on Wednesday. NY Courts/Insider"On October 3, on the record, I imposed on all parties to this action a very limited gag order," Engoron begins the order. This resulted in "a $5,000 nominal sanction against Donald Trump for the first-time violation of the gag order." Former attorney for former U.S. President Donald Trump, Michael Cohen, arrives to be deposed by Trump lawyers in New York, U.S. April 28, 2023.

Persons: Trump, —, Donald Trump's, It's what's, Arthur Engoron, Engoron, Letitia James, — Trump, Wednesday's, Arthur Engron's, Donald Trump, Allison Greenfield, Arthur Engoron's, Michael Cohen, who'd, Michael Cohen –, Eduardo Munoz Organizations: Service, New York, Trump, NY, Oxford, REUTERS, New York Lawyers, Fund, Client Protection Locations: York, trier, New York, U.S

☆ Trump lawyers seek halt to civil fraud trial, arguing dissolving his companies would 'sow confusion and chaos'
▼ + stars: | 2023-10-06 | by ( Associated Press | ) www.businessinsider.com time to read: +5 min

Trump's lawyers are trying to halt his $250M civil fraud trial. Judge Engoron's ruling would "sow confusion and chaos," Trump's lawyers argue. AdvertisementAdvertisementThe appellate court last week rejected the defense's last-minute effort to delay the trial just days before it began. But, only if the trial proceeds as scheduled, Senior Assistant Solicitor General Dennis Fan wrote in a letter to the appellate court. Trump's lawyers argued that Engoron had "no rationale or legal authority" to impose what they described as "the corporate death penalty."

Persons: Engoron's, —, — Donald Trump's, Letitia James, Arthur Engoron, Trump, Clifford Robert, Michael Farina, Michael Madaio, Trump's, James, Dennis Fan, Fan, who've, Engoron, Barbara Jones, Jones, Christopher Kise, he'd Organizations: Service, Trump, Republican, Engoron, White Locations: York, New

CNN —A New York appeals court judge on Friday rejected Donald Trump’s attempt to stop the ongoing $250 million civil fraud trial, but temporarily halted the process of breaking up his businesses. We’re not seeking anything but a fair trial and these errors permeate the ongoing trial,” Trump attorney Christopher Kise said in court Friday, referring to “an avalanche of errors” in the summary judgment ruling. “And tellingly, they waited until after Mr. Trump decided to stop attending the trial,” the letter says. Trump attorneys and his co-defendants notified the appellate court that they’ve agreed with the New York Attorney General Letitia James’ office to discontinue the suit. Engoron handed down the summary judgment ruling last week, causing the appellate court to deny Trump’s request for a stay as moot because Engoron ruled as they requested.

Persons: Donald Trump’s, Peter Moulton, Trump, Judge Arthur Engoron’s, Judge Engoron, ”, “ We’re, We’re, ” Trump, Christopher Kise, Trump’s, they’ve, Letitia James ’, Engoron Organizations: CNN, Trump, The New York Attorney, Mr, Engoron, New, New York Locations: York, ”, Florida, New York

☆ Real estate insiders question how Trump fraud judge valued Mar-a-Lago
▼ + stars: | 2023-10-03 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN Business —A New York judge ruled last week that former President Donald Trump inflated the value of his Mar-a-Lago estate by an eye-popping 2,300%. But the Mar-a-Lago finding in particular is raising eyebrows among real estate and legal experts because of the metric Judge Engoron relied on: the county tax assessor’s appraisal value. It’s a well-known fact,” said Eli Beracha, chair of the school of real estate at Florida International University. “A discrepancy of this order of magnitude, by a real estate developer sizing up his own living space of decades, can only be considered fraud,” Engoron wrote. Cintron, the Harrington Ocko & Monk partner, doesn’t think the Mar-a-Lago valuation controversy moves the needle on the question of whether Trump committed fraud.

Persons: Donald Trump, Trump, Arthur Engoron, Engoron, ” Engoron, ”, Eli Beracha, “, ” Dina Goldentayer, Douglas Elliman, ” Goldentayer, Goldentayer, Zillow, ” It’s, Jonathan Miller, Miller Samuel, ” Miller, Melissa Cintron, Harrington Ocko, Monk, it’s “, Miller, Christopher Kise, ” Trump, Letitia James, Cintron, Harrington, doesn’t, he’s, ” Cintron, CNN’s Anna Bahney Organizations: New York CNN Business, Trump, Florida International University, Miller Samuel Inc, Harrington, Mar, realtors, South, New York Locations: York, Beach, South Florida, New York City, “, Springs, Westchester County , NY, Aberdeen, Scotland, Trump

NEW YORK (AP) — After a fiery first day of opening arguments, lawyers in Donald Trump's business fraud trial in New York will move on Tuesday to the more plodding task of going through years of his financial documents in what's expected to be a weekslong fight over whether they constitute proof of fraud. An accountant who prepared Trump’s financial statements for years was expected to be back on the witness stand for a second day. Trump, who spent a full day Monday as an angry spectator at the civil trial, was contemplating a return to court as well. The non-jury trial concerns six remaining claims in the lawsuit, and how much Trump might owe in penalties. James is seeking $250 million and a ban on Trump doing business in New York.

Persons: Donald Trump's, Trump, “, Letitia James, Arthur Engoron, James, Kevin Wallace, Alina Habba, he’d, Mazars, Donald Bender, Judge Engoron, Wallace, Jill Colvin, Jake Offenhartz, Karen Matthews Organizations: New, Democrat, Trump, Associated Press Locations: New York, Lago, Florida, Sisak, x.com

☆ Ex-special master in Giuliani case named watchdog of Trump Organization
▼ + stars: | 2022-11-14 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

New York state Attorney General Letitia James on Nov. 3 won a court order to appoint an independent monitor for the Trump Organization as part of her $250 million civil fraud lawsuit accusing Trump and the Trump Organization of overvaluing assets and Trump's net worth. Arthur Engoron, the Manhattan-based New York state supreme court judge overseeing the case, wrote in a court filing on Monday that Jones had confirmed in a telephone call that she will accept the appointment. In June 2021, Jones was selected as a court-appointed "special master" to review evidence seized from Giuliani as part of a probe into his business dealings in Ukraine. Trump and the Trump Organization had also recommended Kelly Donovan, a managing director at accounting firm KPMG and former lawyer with the New York state attorney general's office, as a possible candidate. Reporting by Luc Cohen in New York; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

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