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Trump's election campaign used the start of the trial for fundraising, saying he was defending his family and reputation from New York Democrats it called "corrupt tyrants." Christopher Kise, a lawyer for Trump, countered in his opening statement that Trump's financials were entirely legal. Former U.S. President Donald Trump attends the trial of himself, 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, October 2, 2023. Last week, the judge found Trump, his adult sons and 10 of his companies liable for fraud, describing in scathing terms how the defendants made up valuations. The trial will review six additional claims including falsifying business records, insurance fraud and conspiracy, and address how much in penalties the defendants should pay.

Persons: Trump, Donald Trump, Letitia James, Donald Jr, Eric, Donald Bender, James, Arthur Engoron, MONA LISA, Kevin Wallace, Christopher Kise, Kise, Alina Habba, Engoron, Mona Lisa, Brendan McDermid, Lago, Wallace, Michael Cohen, Bender, Cohen, Luc Cohen, Jack Queen, Doina Chiacu, Noeleen Walder, Nick Zieminski, Grant McCool Organizations: New, Trump, Trump Organization, Mazars USA, Republican, New York Democrats, Former U.S, REUTERS, SIX, Thomson Locations: New York, Manhattan, New, Lago, Florida, American, New York City, Washington, Georgia

☆ Attacked by Trump, New York judge to weigh ex-president's fraud case
▼ + stars: | 2023-10-02 | by ( Jonathan Stempel | ) www.reuters.com time to read: +5 min

James sued in September 2022, saying Trump, his adult sons Donald Jr. and Eric, the Trump Organization and others had orchestrated a "staggering fraud." Last year, Engoron held Trump in contempt for failing to respond to a subpoena, and eventually imposed $110,000 in fines. And in a Sept. 22 hearing, Engoron pounded his fist on the bench while admonishing the defense about the importance of not making false statements in business. He spent more than a decade in private practice and 12 years clerking for a state judge, before becoming a civil court judge in 2003. At the Sept. 22 hearing, for example, he told the courtroom he tried to appear neutral as both sides made their arguments.

Persons: Arthur Engoron, Letitia James, Donald Trump, Trump, James, Donald Jr, Eric, Engoron, Christopher Kise, John Low, Chico Marx, Marx, Beer, Jonathan Stempel, Karen Freifeld, Noeleen Walder, Daniel Wallis 私 Organizations: New York, Republican, White, Trump Organization, Trump, Marx Brothers, Columbia University, New, Voters, American Civil Liberties Union Locations: New, New York, U.S, Manhattan, Lago, Saudi Arabia

“Donald Trump and the other defendants have committed persistent and repeated fraud,” New York Attorney General Letitia James said outside the state Supreme Court courthouse on Monday morning. Editorial Cartoons on Donald Trump View All 675 ImagesSuch inflations helped Trump build a real estate empire and bolster his image and brand – both of which eventually propelled him to the White House. Trump has maintained innocence and says he plans to appeal any and all decisions and orders against him. We have a racist attorney general who is a horror show, who ran on the basis that she was going to get Trump before she even knew anything about me.”“It’s a scam,” he said. Meanwhile, the attorney general prosecution’s witness list is 28 people long, and includes Trump’s sons Donald Trump Jr. and Eric Trump and his daughter Ivanka Trump.

Persons: Donald Trump, “ Donald Trump, ”, Letitia James, Judge Arthur Engoron, Trump, Engoron, James, “, ” Trump, ” Christopher Kise, Donald Trump Jr, Eric Trump, Ivanka Trump Organizations: Trump Organization, ” New York, Trump, Trump National Golf, Donald Trump View Locations: Manhattan, Florida, Mar, New York

Donald J. Trump’s civil fraud trial over accusations that he inflated the value of his properties by billions of dollars could begin as soon as Monday after a New York appeals court rejected the former president’s attempt to delay it. The appeals court, in a terse two-page order Thursday, effectively turned aside for now a lawsuit Mr. Trump filed against the trial judge, Arthur F. Engoron. The lawsuit had sought to delay the trial, and ultimately throw out many of the accusations against the former president. Thursday’s ruling came two days after Justice Engoron issued an order that struck a major blow to Mr. Trump, finding him liable for having committed fraud by persistently overvaluing his assets and stripping him of control over his New York properties. Justice Engoron sided with the New York attorney general, Letitia James, who last year sued Mr. Trump, accusing him of inflating his net worth to obtain favorable loan terms from banks.

Persons: Donald J, Trump, Arthur F, Thursday’s, Justice Engoron, Engoron, Letitia James Organizations: New, Mr Locations: York, New York

NEW YORK (AP) — Does a judge’s fraud finding spell the end of Donald Trump ’s real estate empire? He decried Tuesday’s ruling, which shifts control of some of his companies to a court-appointed receiver, as the “KILL TRUMP” decision. As he quizzed the judge, Kise noted that some of the Trump entities being stripped of their business licenses own properties such as Trump Tower and an office building at 40 Wall Street, both in Manhattan. “Is it the court’s position that those assets are now going to be sold or just going to be managed under the direction of the (receiver)?” Kise asked. That would far exceed even the highest value he listed for Mar-a-Lago on his financial statements, $739 million in 2018.

Persons: Donald Trump ’, Tuesday’s, TRUMP, isn't, Judge Arthur Engoron, Letitia James ’, Trump, “, Christopher Kise, he'd, Kise, ” Kise, Engoron, Allison Greenfield, “ I’m, Barbara Jones, who's, she's, James ’, Kevin Wallace, James Organizations: Trump, Trump Organization, NYS, Republican, Mar Locations: New York, New, Manhattan, LLCs, Lago, Palm Beach , Florida, Sisak, x.com

Former U.S. President and Republican presidential candidate Donald Trump speaks during a 2024 presidential campaign rally in Dubuque, Iowa, U.S. September 20, 2023. Engoron's ruling could force Trump to give up control to a receiver of properties including Manhattan's Trump Tower, golf courses and his family estate in a Manhattan suburb. The hearing was surprisingly subdued, given the criticism that Trump, Kise and other supporters of the defendants leveled at Engoron and his decision a day earlier. In court, Kise, who had called Engoron's decision "completely disconnected from the facts and governing law," complimented the judge as "extremely intelligent." Trump had sued Engoron this month, accusing him of ignoring a June appeals court ruling that according to Trump required gutting James' case because many of her claims were too old.

Persons: Donald Trump, Scott Morgan, Arthur Engoron, Christopher Kise, Trump, Manhattan's, Kise, I'm, Engoron, gutting James, Karen Freifeld, Bill Berkrot Organizations: U.S, Republican, REUTERS, New, Trump, Trump Organization, Thomson Locations: Dubuque , Iowa, U.S, New York, Manhattan

NEW YORK (AP) — A judge ruled Tuesday that Donald Trump committed fraud for years while building the real estate empire that catapulted him to fame and the White House. Engoron’s ruling, in a phase of the case known as summary judgment, resolves the key claim in James’ lawsuit, but several others remain. “Today, a judge ruled in our favor and found that Donald Trump and the Trump Organization engaged in years of financial fraud," James said in a statement. James’ lawsuit is one of several legal headaches for Trump, the Republican front-runner in next year's election. James’ lawsuit does not carry the potential of prison time, but could complicate Trump's ability to transact real estate deals.

Persons: —, Donald Trump, Judge Arthur Engoron, Letitia James, Engoron, Christopher Kise, ”, Kise, Eric, Engoron's, Eric Trump, “, James ’, Trump, James, He'll, James wasn’t, ” Trump, Allen Weisselberg, Michael Cohen, Eric Tucker, Jill Colvin, Bernard Condon, David B, Caruso Organizations: White, New York, Trump Organization, Trump, New, Democrat, Mar, Republican, D.C, Buffalo Bills, Trump Foundation, Associated Press, Washington , D.C Locations: New York, United States, Lago, Florida, Manhattan, Georgia, Washington, Washington ,, Summerville , South Carolina

NEW YORK, Sept 6 (Reuters) - A New York state judge on Wednesday rejected Donald Trump's bid to delay a scheduled Oct. 2 trial in state Attorney General Letitia James' civil fraud lawsuit accusing him, family members and his business of overvaluing assets by billions of dollars. The judge had earlier this year said the Oct. 2 trial date would not change "come hell or high water." [1/2]Former U.S. President Donald Trump departs from Trump Tower to give a deposition to New York Attorney General Letitia James who sued Trump and his Trump Organization, in New York City, U.S., April 13, 2023. The defendants have denied wrongdoing, and Trump has called James' case part of a partisan "witch hunt." Despite his legal problems, Trump has a dominating lead for the 2024 Republican presidential nomination.

Persons: Donald Trump's, Letitia James, Arthur Engoron, Trump, James, Engoron, Donald Trump, Mike Segar, Donald Trump Jr, Eric Trump, Jean Carroll, Jonathan Stempel, Nick Zieminski, Daniel Wallis Organizations: Trump, U.S, Trump Tower, New York, Trump Organization, REUTERS, Thomson Locations: York, New, New York City, U.S, New York

The July indictment accused Mr. Trump, Mr. De Oliveira and Mr. Nauta of trying to delete Mar-a-Lago security footage. The government had requested a trial date in December, while Mr. Trump’s lawyers asked for an indefinite postponement. Once he was sworn in as president, Mr. Trump reimbursed Mr. Cohen. Rather than publish her account, the tabloid suppressed it in cooperation with Mr. Trump and Mr. Cohen, prosecutors say. Ms. Maddock, who has close ties to Mr. Trump and is married to Matt Maddock, a state representative, accused Ms. Nessel of “a personal vendetta.”“This is part of a national coordinated” effort to stop Mr. Trump, she added.

Persons: Donald J, Trump, Trump’s, Jack Smith, Fani, Willis, Mr, Alvin L, Bragg, Rudolph W, Giuliani, Mark Meadows, —, “, ” Mr, Brad Raffensperger, Joseph R, Biden, Emily Kohrs, “ You’re, ”, Ms, Smith’s, Smith, Prosecutors, Mike Pence, Walt Nauta, Carlos De Oliveira, De Oliveira, Nauta, ’, Stormy Daniels, Michael D, Cohen, Daniels, Karen McDougal, McDougal, Bragg’s, Juan M, Merchan, “ Trump, Merchan’s, Cyrus R, Vance Jr, Daniels’s, Hope Hicks, Kellyanne Conway, Allen H, Weisselberg, Mimi E, Rocah, Letitia James, James, Donald Jr, Eric, Ivanka Trump, Michigan’s “, Dana Nessel, Meshawn Maddock, Maddock, Matt Maddock, Nessel, Wright Blake, Mayra Rodriguez, Kris Mayes, Richie Taylor, Maggie Haberman, Glenn Thrush, Jonah E, Rebecca Davis O’Brien, Michael Gold, Michael Rothfeld, Ed Shanahan, Richard Fausset, Ashley Wong Organizations: Mr, Democrat, New, New York City, White House, Department, Georgia Republican Party, Trump, The New York Times, Capitol, Federal, Court, Congress, Justice Department, Mar, Manhattan, National Enquirer, Trump Tower, U.S, National, Trump Organization, Trump National Golf Club Westchester, New York, Civil, Michigan, Michigan Republican Party Locations: Manhattan, Georgia, Fulton County, Lago, New York, United States, Washington, Palm Beach, Fla, Mar, Lower Manhattan, Westchester County, Michigan, Arizona, Bromwich

The indictment said Mr. Trump and six unnamed co-conspirators had pushed state legislators and election officials to change electoral votes won by Mr. Biden to votes for Mr. Trump. The July indictment accused Mr. Trump, Mr. De Oliveira and Mr. Nauta of trying to delete Mar-a-Lago security footage. Once he was sworn in as president, Mr. Trump reimbursed Mr. Cohen. Rather than publish her account, the tabloid suppressed it in cooperation with Mr. Trump and Mr. Cohen, prosecutors say. The court papers also referred to a payment to a former Trump Tower doorman who claimed that Mr. Trump had fathered a child out of wedlock.

Persons: Donald J, Trump, Trump’s, Jack Smith, Alvin L, Bragg, Joseph R, Biden Jr, Biden, Prosecutors, Mike Pence, Mr, Smith, Walt Nauta, Smith’s, Carlos De Oliveira, De Oliveira, Nauta, ’, Stormy Daniels, Michael D, Cohen, Daniels, Karen McDougal, McDougal, Bragg’s, Juan M, Merchan, “ Trump, Merchan’s, Mimi E, Rocah, Letitia James, James, Donald Jr, Eric, Ivanka Trump, Maggie Haberman, Glenn Thrush, Jonah E, Rebecca Davis O’Brien, Michael Gold, Michael Rothfeld, Ed Shanahan, Richard Fausset, Ashley Wong Organizations: Mr, Capitol, Federal, Court, Congress, Justice Department, Mar, Manhattan, National Enquirer, Trump Tower, U.S, Trump Organization, Trump National Golf Club Westchester, New York, Civil, New, Trump Locations: Manhattan, Lago, United States, Palm Beach, Fla, Mar, New York, Westchester County, Bromwich

Mr. Trump was also charged with attempting to obstruct an official proceeding — the certification of the election results by Congress. The indictment said Mr. Trump and six unnamed co-conspirators had pushed state legislators and election officials to change electoral votes won by Mr. Biden to votes for Mr. Trump. The July indictment accused Mr. Trump, Mr. De Oliveira and Mr. Nauta of trying to delete Mar-a-Lago security footage. Once he was sworn in as president, Mr. Trump reimbursed Mr. Cohen. Rather than publish her account, the tabloid suppressed it in cooperation with Mr. Trump and Mr. Cohen, prosecutors say.

Mr. Trump was also charged with attempting to obstruct an official proceeding — the certification of the election results by Congress. The indictment said Mr. Trump and six unnamed co-conspirators had pushed state legislators and election officials to change electoral votes won by Mr. Biden to votes for Mr. Trump. The July indictment accused Mr. Trump, Mr. De Oliveira and Mr. Nauta of trying to delete Mar-a-Lago security footage. Rather than publish her account, the tabloid suppressed it in cooperation with Mr. Trump and Mr. Cohen, prosecutors say. Mr. Trump faced a second criminal investigation in New York related to financial dealings at a Trump Organization golf course in Westchester County.

☆ Icahn unties personal loans from his investment firm's share price, shares jumps
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +2 min

July 10 (Reuters) - Billionaire activist investor Carl Icahn has amended the terms of his personal loans to separate them from the price of Icahn Enterprises' (IEP.O) depositary units, the investment firm disclosed in a filing on Monday. The move comes months after short-seller Hindenburg's criticism triggered a massive fall in the shares of his investment company. Icahn and its affiliates have entered into a three-year loan agreement with banks, including Bank of America, N.A. In the amended loan agreement, Icahn will provide additional collateral of $2 billion from his personal funds and 320 million IEP shares. It also said IEP units were inflated by more than 75%.

Persons: Carl Icahn, Icahn, Hindenburg, Jaiveer Shekhawat, Niket, Gursimran Kaur, Dhanya Ann Thoppil, Pooja Desai Organizations: Billionaire, Icahn Enterprises, Bank of America, Bank of Montreal, Deutsche Bank AG, Thomson Locations: Bengaluru

A New York appeals court on Tuesday dismissed the New York attorney general’s civil case against Donald J. Trump’s daughter Ivanka Trump and potentially limited the case against the former president and his family business, which is set to go to trial in October. Last year, the attorney general, Letitia James, filed a lawsuit against Mr. Trump, his company and three of his adult children, including Ms. Trump, accusing them of fraudulently overvaluing the former president’s assets by billions of dollars to receive favorable loans. On Tuesday, the Appellate Division of the State Supreme Court in Manhattan said in a unanimous ruling that Ms. James’s claims against Ms. Trump should be dismissed because the attorney general missed a deadline for filing the case against her. Ms. Trump was no longer a part of the Trump Organization after 2016, the ruling noted. The appeals court effectively left it to the State Supreme Court judge presiding over the case to determine whether the claims against the other defendants — including Mr. Trump, his company and his two adult sons — should be limited.

Persons: general’s, Donald J, Ivanka Trump, Letitia James, Trump, James’s Organizations: New, Mr, Division, Court, Trump Organization Locations: York, New York, Manhattan

Once he was sworn in as president, Mr. Trump reimbursed Mr. Cohen. Rather than publish her account, the tabloid suppressed it in cooperation with Mr. Trump and Mr. Cohen, prosecutors say. Legal experts say that Mr. Trump and others appear to be at “substantial risk” of prosecution for violating a number Georgia statutes, including the state’s racketeering law. But if she were to prevail at trial, a judge could impose steep financial penalties on Mr. Trump and restrict his business operations in New York. Ms. James’s investigators questioned Mr. Trump under oath in April, and a trial is scheduled for October.

Persons: Donald J, Trump, Trump’s, Jack Smith, Alvin L, Bragg, Stormy Daniels, Michael D, Cohen, Daniels, Karen McDougal, McDougal, Brad Raffensperger, Biden’s, —, Emily Kohrs, “ You’re, ”, “, Willis, Jan, Mr . Biden, Smith, Mike Pence, Mark Meadows, Letitia James, Mr, James, Donald Jr, Eric, Jonah E, Rebecca Davis O’Brien, Michael Gold, Michael Rothfeld, Ed Shanahan, Richard Fausset, Ashley Wong Organizations: Capitol, Manhattan, National Enquirer, Mr, ., The New York Times, Justice Department, Trump, Prosecutors, White House, Trump White House, New York, Civil, New Locations: Manhattan, Georgia, . Georgia, Fulton County, United States, Washington, Trump’s, New, New York, Bromwich

☆ Fintech Tingo's shares slump as short-seller Hindenburg takes aim
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +1 min

June 6 (Reuters) - Tingo Group (TIO.O) shares halved in value on Tuesday after short-seller Hindenburg Research criticized its founder and alleged that the fintech firm had "fabricated" its financials. Hindenburg also said Tingo was an "exceptionally obvious scam" and called out founder Dozy Mmobuosi's claims of having developed "the first mobile payment app in Nigeria". The New Jersey-based holding company, whose shares shed more than 59% to $1.04, operates in Africa, Southeast Asia and the Middle East. Shares of IEP have erased a fifth of their value after Hindenburg accused the company of overvaluing its holdings and relying on a "Ponzi-like" structure to pay dividends. Conglomerate Adani's market value took a $100 billion hit after the short-seller accused it of improper use of offshore tax havens.

Persons: Hindenburg, Tingo, Dozy Mmobuosi's, Dozy Mmobuosi, Jack Dorsey, Carl Icahn's, Mehnaz Yasmin, Anil D'Silva Organizations: Tingo, Hindenburg Research, Reuters, Adani Group, Inc, Icahn Enterprises, Thomson Locations: Nigeria, New Jersey, Africa, Southeast Asia, Bengaluru

☆ Icahn Enterprises fielding enquiries by U.S. prosecutors
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +2 min

May 10 (Reuters) - Icahn Enterprises LP (IEP.O) said on Wednesday it had received inquiries from U.S. prosecutors about its operations on May 3, a day after a short-seller accused it of over-valuing its assets. The disclosure from Icahn Enterprises that it had received inquiries from prosecutors in the Southern District of New York came as the firm posted a surprise quarterly loss, after volatility in markets hit returns on its investments. It added that the prosecutors had not made any claims or allegations against the company or Icahn. Icahn has called the report "self-serving" and said he stands by Icahn Enterprises statements about his finances. Excluding one-time items, Icahn Enterprises reported a loss of 11 cents per share, missing analysts' average estimate of a 19 cents profit, according to Refinitiv data.

☆ Icahn Enterprises shares slide on surprise quarterly loss
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +1 min

May 10 (Reuters) - Icahn Enterprises LP (IEP.O) on Wednesday reported a surprise quarterly loss as volatility in markets hit returns on its investments, sending the shares of the company owned by billionaire Carl Icahn down nearly 8% before the bell. "Icahn has been using money taken in from new investors to pay out dividends to old investors," Hindenburg had alleged about the Florida-based company with investments in the energy, automotive, food packaging, real estate and other industries. Excluding one-time items, Icahn Enterprises reported a loss of 11 cents per share, missing analysts' average estimate of a 19 cents profit, according to Refinitiv data. Revenue for the quarter ended March 31 came in at $2.6 billion compared to $4.1 billion a year earlier. Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Short investor Hindenburg erases fifth of Icahn empire’s value
▼ + stars: | 2023-05-02 | by ( ) edition.cnn.com time to read: +4 min

In a report published on Tuesday, Hindenburg accused IEP of overvaluing its holdings and relying on a “Ponzi-like” structure to pay dividends. The subsequent plunge in IEP shares wiped $2.9 billion off Icahn’s net worth, leaving him with an estimated $14.7 billion, according to Forbes. NAV is a key gauge of a fund’s performance, measuring the market value of securities held by the fund. Driving the frothiness in IEP’s stock, Hindenburg argued, is its dividend yield of 15.8%, the highest of any US large cap company by far. Hindenburg also offered examples it said showed IEP itself was valuing its holdings way above their market value.

In a report published on Tuesday, Hindenburg accused IEP of overvaluing its holdings and relying on a "Ponzi-like" structure to pay dividends. The subsequent plunge in IEP shares wiped $2.9 billion off Icahn's net worth, leaving him with an estimated $14.7 billion, according to Forbes. NAV is a key gauge of a fund's performance, measuring the market value of securities held by the fund. Driving the frothiness in IEP's stock, Hindenburg argued, is its dividend yield of 15.8%, the highest of any U.S. large cap company by far. Hindenburg also offered examples it said showed IEP itself was valuing its holdings way above their market value.

Since Mr. Trump was indicted, his poll numbers have risen. The poll he mentioned Thursday predicted that he would receive 62 percent of the vote in the Republican primary. But the investigations could cause Mr. Trump real harm. No matter the outcome, any direct connection between Mr. Trump’s legal fate in the rape case and his political fortunes is tenuous. In the courtroom, which Mr. Trump has avoided, Ms. Carroll’s team argued that his words were not to be dismissed, even years after they became public.

Companies Trump Organization Inc FollowNEW YORK, Jan 6 (Reuters) - A New York judge on Friday said former U.S. President Donald Trump must face a lawsuit by the state's attorney general accusing him of fraudulently overvaluing his namesake real estate company's assets and his own net worth. He also said Ivanka Trump could be sued despite her claims she had not falsified valuations and not worked for the Trump Organization since 2017, saying she could be liable for participating in "continuing wrongs." In a statement, James said Trump "engaged in years of extensive financial fraud to enrich himself and cheat the system," and must defend himself in court. The lawsuit is one of many legal woes affecting Trump, who is seeking another term as president in 2024. Reporting by Jonathan Stempel in New York; Editing by Bill Berkrot and David GregorioOur Standards: The Thomson Reuters Trust Principles.

Trump, a Republican, has accused James, a Democrat, of suing him because she dislikes him and his politics. The Trump Organization is now on trial in another Manhattan courtroom on criminal tax fraud charges. Trump also faces a criminal investigation in Georgia into whether he interfered with the 2020 election results in that state. "Who stands to gain from this highly-politicized farse [sic], aside from the politically-compromised Attorney General of the State of New York?" Both testified as prosecution witnesses in the Manhattan criminal trial in which prosecutors accused the company of engaging in tax fraud spanning 15 years.

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