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☆ Trump, adult sons and former Trump Org. officials appeal civil fraud judgment in New York
▼ + stars: | 2024-02-26 | by ( Kara Scannell | ) edition.cnn.com time to read: +1 min

CNN —Former President Donald Trump, his adult sons, and two former Trump Organization officials have appealed the $464 million judgment entered against them in the New York attorney general’s civil fraud case. Donald Trump is personally on the hook for $454 million, including interest payments. His sons were each ordered to pay more than $4 million back in gains they improperly received because of the fraud. Engoron’s signed judgment was posted to the court docket Friday, one week after he found Trump, Donald Trump Jr. and Eric Trump liable for fraud in the civil case brought by New York Attorney General Letitia James. His lawyers had argued it wouldn’t harm the New York attorney general’s office and would allow for an orderly process given the “magnitude” of the decision.

Persons: Donald Trump, Judge Arthur Engoron, “, Trump, Engoron’s, Donald Trump Jr, Eric Trump, Letitia James Organizations: CNN, Trump Organization, New, New York Locations: New York, York

☆ Trump appeals New York civil fraud verdict
▼ + stars: | 2024-02-26 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

Former U.S. President Donald Trump speaks after arriving for his civil business fraud trial in New York State Supreme Court on December 7, 2023 in New York City. Former President Donald Trump on Monday filed a notice of appeal of the New York civil judgment finding him liable for fraudulently inflating his net worth on years of financial statements. Trump's co-defendants, including Eric Trump, Donald Trump Jr., a slew of Trump Organization entities and two of its executives, joined Monday's appeals. The notices do not indicate that Trump has secured an appeal bond, which is required in order to pause the judgment from being enforced. Trump is running for president as he challenges civil judgments totaling well over half a billion dollars in fines.

Persons: Donald Trump, Judge Arthur Engoron, Trump, Engoron, Letitia James, Trump's, Eric Trump, Donald Trump Jr, Joe Biden Organizations: U.S, Court, New, Trump, New York, Trump Organization Locations: New York, New York City

☆ A judge gave Trump 30 days to pay the $454 million civil fraud judgment. He'll owe an additional $112,000 in interest each day he doesn't.
▼ + stars: | 2024-02-24 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +2 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The amount includes a $354 million penalty plus nearly $100 million in pre-judgment interest. A spokesperson for Attorney General Letitia James confirmed to the AP that Trump will begin accruing interest of $111,984 per day. Per the AP, this interest amount considers both the penalty and the pre-judgment interest — not just the penalty — meaning Trump will owe more interest than the $87,502 per day previously thought.

Persons: —, Donald Trump, Judge Arthur Engoron, Letitia James, Engoron, Trump, James, Allen Weisselberg, Bernard Madoff Organizations: Service, Trump, Associated Press, AP, New, Trump Organization Locations: New York, Manhattan

☆ Donald J. Trump Is Racing Against Time to Find a Half-Billion Dollar Bond
▼ + stars: | 2024-02-24 | by ( Ben Protess | Jonah E. Bromwich | ) www.nytimes.com time to read: +1 min

Donald J. Trump is on the clock. The $454 million judgment that a New York judge imposed on Mr. Trump in his civil fraud case took effect on Friday, placing the former president in a precarious position. If Mr. Trump can find a bond company willing to do a deal this big, it will require him to pay the firm a fee as high as 3 percent of the judgment and to pledge collateral. The bond would prevent the New York attorney general’s office, which brought the civil fraud case against Mr. Trump, from collecting the $454 million while Mr. Trump’s appeal is heard. Without it, the attorney general, Letitia James, is entitled to collect at any moment.

Persons: Donald J, Trump, Letitia James Organizations: Mr, New York Times, New Locations: New York

☆ NRA trial: Wayne LaPierre should pay gun rights group $4.3 million for misusing charitable funds, jury finds
▼ + stars: | 2024-02-23 | by ( Emma Tucker | Sabrina Souza | ) edition.cnn.com time to read: +3 min

In its verdict, the jury found LaPierre should pay the powerful gun rights group $4.3 million in damages for mismanagement and misspending charitable funds on lavish personal trips, no-show contracts and other questionable expenditures. The panel also found the group’s former CFO Wilson Phillips should pay back $2 million for breaching his fiduciary duties as an executive. Shortly after the verdict was read, New York Attorney General Letitia James called the jury’s decision against the National Rifle Association and its top executives, a “major victory” in a post on X. The jury found the NRA was not liable for only one claim, which asked whether LaPierre’s post-employment contract was an improper transaction. The jury found the New York Attorney General’s Office did not prove the transaction had not received proper approval from the NRA board.

Persons: Wayne LaPierre, LaPierre, Wilson Phillips, Letitia James, ” James, “ Wayne LaPierre, Christine Cornell Organizations: CNN, New York, National Rifle Association, NRA, Court

☆ Guns and Goodies: How LaPierre Spent the N.R.A.’s Money
▼ + stars: | 2024-02-23 | by ( Liset Cruz | ) www.nytimes.com time to read: +1 min

Its leader, Wayne LaPierre, was the face of obdurate resistance to regulations on firearms. Behind the scenes, however, Mr. LaPierre had a taste for the good life, spending the group’s money on luxuries like Bahamian vacations. CLOTHES: Between 2004 and 2017, Mr. LaPierre spent nearly $275,000 on suits from a luxury Beverly Hills boutique, Zegna. Mr. LaPierre said he bought them on the recommendation of an N.R.A. contractor who “hated my clothing.” Mr. LaPierre had argued that the suits were just “costumes I wore on TV,” albeit extremely expensive ones.

Persons: Letitia James, Wayne LaPierre, LaPierre, “, Mr Organizations: New, National Rifle Association, Beverly Hills

☆ From doubter to devotee: How New York’s Elise Stefanik emerged as a top Trump ally
▼ + stars: | 2024-02-23 | by ( Gregory Krieg | ) edition.cnn.com time to read: +9 min

Stefanik has often explained it herself: She saw Trump’s popularity in her upstate New York district and got on board. That first impeachment proceeding made her a “Republican star,” as Trump himself said at the time. When there was a nationwide baby formula shortage in 2022, Stefanik blamed the “White House, House Dems, & usual pedo grifters” on social media. One upset donor told CNN in 2023 that he gave to Santos “because of Elise Stefanik’s endorsement.” Stefanik frequently denied any previous knowledge of his Santos’ history. “The American people stand with President Trump,” Stefanik wrote, “against the unethical, unconstitutional, and unprecedented weaponization of the judicial system.”CNN’s Alayna Treene contributed to this story.

Persons: –, Donald Trump –, Elise Stefanik, Trump’s, ”, Stefanik, Trump’s staunchest, Joe Biden’s, Claudine Gay, she’d, Paul Ryan, Trump, she’s, MAGA, “, ” Stefanik, Kevin McCarthy, Ohio Sen, J.D, Kari Lake, Kristi Noem, Sarah Huckabee Sanders, Nikki Haley, Vance, Ben Carson, Jim Jordan of, Florida’s Matt Gaetz, Steve Bannon, Vivek Ramaswamy, ’, he’s, Nancy Pelosi, ” “, George Santos, Santos “, Elise Stefanik’s, Santos, Letitia James, Alayna Treene Organizations: CNN, Donald Trump – New York, Republican, GOP, Yorker, Harvard University, Time Magazine, Trump, California Rep, Ohio, South Dakota Gov, Arkansas Gov, White House, Conservative Political, Conference, Former South Carolina Gov, Trump Republicans, New, House Dems, ” “, New York Republican, New York Times, Washington and New York, Congress, New York, Trump’s Locations: “, America, alma mater, New York, Vance , Arizona, South, Washington, Lake, Jim Jordan of Ohio, detractor, Lago, vouching, Washington and New, Florida

The jury, after a week of deliberations, found that the group’s former leader, Wayne LaPierre, had used N.R.A. Mr. LaPierre has repaid some of that sum, but must still repay $4.35 million. In addition to Mr. LaPierre, the defendants included the group’s former treasurer, Wilson Phillips, and its general counsel, John Frazer. Mr. Phillips must repay $2 million. “Today, LaPierre and the N.R.A.

Persons: Wayne LaPierre, LaPierre, Wilson Phillips, John Frazer, Phillips, Letitia James Organizations: National Rifle Association Locations: Manhattan, “

☆ N.Y. Attorney General Urges Stricter Warnings for Asthma Drug
▼ + stars: | 2024-02-22 | by ( Christina Jewett | Benjamin Mueller | ) www.nytimes.com time to read: +1 min

The New York attorney general on Thursday urged the Food and Drug Administration to “take immediate action” and renew alerts to doctors and patients about the dangerous effects of Singulair for children, saying that the current warnings about the drug’s psychiatric side effects were not sufficient. In a letter, the attorney general, Letitia James, also called on the federal agency to consider discouraging the prescription of Singulair, an asthma and allergy drug, to children. Thousands of patients and parents have complained to the F.D.A. about symptoms of anxiety, rage, hallucinations and other psychiatric problems that they linked to the drug, which is also known in its generic form as montelukast. in 2020 to order its most stringent warning on instructions for the drug’s usage.

Persons: Letitia James Organizations: New, Food and Drug Administration, New York Times Locations: New York

☆ New York Attorney General says she'll seize the Trump Building if Donald Trump can't pay his $355 million fine
▼ + stars: | 2024-02-21 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Former President Donald Trump could lose his prized buildings if he isn't able to pay his civil fraud penalty, says New York Attorney General Letitia James. The former president was hit with a $355 million penalty in a New York civil fraud case last week. She suggested that they were looking to seize Trump's Manhattan skyscraper, the Trump Building, if the GOP presidential frontrunner doesn't pay up. AdvertisementRepresentatives for Trump did not immediately respond to a request for comment from Business Insider sent outside regular business hours.

Persons: —, Donald Trump, Letitia James, James, Trump, doesn't, Jean Carroll, John Bolton Organizations: Service, New, ABC News, Trump, MSNBC, Business Insider Locations: New York, Manhattan, New Yorkers

☆ Trump is racking up $2.6 million in interest for every month that he hasn't paid his $355 million fine
▼ + stars: | 2024-02-21 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Read previewFormer President Donald Trump has been ordered to pay interest for the $355 million in penalties from the New York case against him, and it's likely already added about $100 million to his total fine. Trump will have to pay interest on this dating back to May 2022, which is currently $20 million. Trump now stands to lose about $32 million from interest per year if he does not clear his $355 million disgorgement. Advertisement"Trump, Donald Trump, Jr., Eric Trump, and his former executives must pay over $450 million in disgorgement and interest," she wrote. Donald Trump Jr. and Eric Trump have each been ordered to pay $4 million in penalties for their involvement in the Old Post Office sale.

Persons: —, Donald Trump, Arthur Engoron, Trump, Engoron, Letitia James, Donald Trump , Jr, Eric Trump, Donald Trump Jr, Christopher Kise, Kise, James, Jean Carroll, Stormy Daniels Organizations: Service, Business, Post, Trump, New York, Newsweek, Department of Justice, White Locations: York, Washington , DC, Ferry, Bronx, Manhattan, Fulton County , Georgia

☆ Fraud like nobody's watching: Trump was probed for 5 years, and still wouldn't clean up his act
▼ + stars: | 2024-02-18 | by ( Laura Italiano | ) www.businessinsider.com time to read: +11 min

Donald Trump's fraud verdict targets three things he values dearly: his cash, his New York business address, and the Trump Organization steering wheel. Otherwise, as Engoron noted in his verdict, Trump, his company, and his sons, Donald Trump Jr. and Eric Trump, "are likely to continue their fraudulent ways." In previous years, Trump has settled allegations of fraud involving the Trump Foundation, Trump University, and the 2017 Inaugural Committee, Amer pointed out in closings. The same day James concluded her initial investigation and filed her massive Trump fraud lawsuit, on September 21, 2022, Trump incorporated "Trump Organization II" in what her office worried was an attempt to shift and protect assets. Advertisement"In short," they added, Trump and Trump Organization leadership "have proven themselves incapable, time and again, of following the law."

Persons: Trump, Donald Trump's, —, he's, Letitia James, Arthur Engoron, James, he'll, Barbara Jones —, Judge Jones, Jones, Engoron, Donald Trump Jr, Eric Trump, Cushman, Trump's, Allen Weisselberg, Patrick Birney, Birney, Weisselberg, Donald, — Trump, Andrew Amer, Amer, — Jones, Jean Carroll, Kevin Wallace, Christopher Kise, Kise, She's Organizations: NY, Trump Organization, Trump, GOP, New York, Deutsche Bank, Mazars, Trump Org, Trump Foundation, Trump University, New, Independent Monitor Locations: New York, Mazars USA, Wakefield, Trump

Trump, meanwhile, has been working to appeal to the blue-collar and union voters who were critical to his victory in 2016. But Trump was again most focused on his grievances, opening with a 15-minute screed about the criminal and civil cases against him. With interest payments, Trump’s legal debts might now exceed a half-billion dollars — an amount it is unclear whether or not Trump can afford to pay. Trump lost the county to Hillary Clinton in 2016 and Biden in 2020, both times by eight percentage points. The remaining 39 will be distributed by precinct delegates at a Michigan GOP state convention on March 2.

Persons: Donald Trump, Trump, Joe Biden, Biden, Jean Carroll, Arthur Engoron, Letitia James, Jack Smith, Fani Willis, they’re, ” Trump, Hillary Clinton, Trump's, Pete Hoekstra, Hoekstra, Kristina Karamo, “, Karamo, won’t, ___ Colvin, Joey Cappelletti Organizations: Trump, Israel, New York, GOP, Republican, Michigan GOP, U.S ., Associated Press Locations: WATERFORD, Mich, New York, Michigan, Israel, Waterford Township, Detroit, Fulton County, Oakland County, South Carolina, Netherlands

☆ NY's Letitia James takes a Trump verdict victory lap after her often bizarre, 5-year war of words with Trump
▼ + stars: | 2024-02-17 | by ( Laura Italiano | ) www.businessinsider.com time to read: +5 min

Read previewFrom head to toe, quite literally, Donald Trump and his lawyers have attacked New York Attorney General Letitia James. "Donald Trump falsely, knowingly, inflated his net worth by billions of dollars to unjustly enrich himself, his family, and to cheat the system. "Donald Trump may have authored 'The Art of the Deal,' she added, repeating a punchline from her September 2022 announcement that she had sued Trump over his frauds. Likewise, where James had requested five-year bans on Donald Trump, Jr., and Eric Trump, Engoron kept those to two years. Then, in September 2023, James sued Trump, Trump Org, Donald Trump, Jr., Eric Trump, and two executives who have since resigned, CFO Allen Weisselberg and Comptroller Jeffrey McConney.

Persons: —, Donald Trump, Letitia James, He's, she's, Letitia, James, Trump, Arthur Engoron's, James didn't, Engoron, Donald Trump , Jr, Eric Trump, Ivanka Trump, Michael Cohen, Allen Weisselberg, Jeffrey McConney, Jeffrey McConney —, Donald Trump's Organizations: Service, New, Trump, Business, Crooked, Trump Org, Lawyers, Trump Organization Locations: New York, Manhattan

☆ 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

☆ Trump’s crushing fraud trial defeat is a microcosm of a life defined by breaking all the rules
▼ + stars: | 2024-02-17 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

Practically, Engoron’s decision will impose severe financial and personal strain on Trump as he’s emerging as the almost certain Republican presidential nominee. “He’s already said he’s going to spend most of this year in a courtroom, not on a campaign trail. Flouted rules, new realities and a busted legal strategyTrump’s belief that the rules are for others defines his business and political life. Yet this refusal to ever admit defeat also appears to be leading Trump into dangerous legal territory. His flawed philosophy that in business and life, it’s all about closing one more deal, means that even crushing defeats like the 2020 election and his fraud trial cannot change him.

Persons: Donald Trump’s, Trump, Arthur Engoron’s, —, Joe Biden, “, Biden, ” Trump, Jean Carroll, Engoron, It’s, Elise Stefanik, Nikki Haley, ” Haley, “ He’s, ” Friday’s, Tom Suozzi’s, marveled, ”, Donald Trump, Letitia James, wouldn’t, Michael D’Antonio, “ Trump, Neama Rahmani, I’ve Organizations: CNN, Trump, DOJ, Trump Organization, Republican, East Coast, South, GOP House, New York, West Locations: New York, Manhattan, Florida, York, United States, he’s, South Carolina, Washington, Georgia, American

LOS ANGELES (AP) — Former CBS chief executive and president Les Moonves has agreed to pay a $11,250 fine to settle a complaint accusing him of interfering with a police investigation of a sexual assault case, according to documents released Friday by the Los Angeles City Ethics Commission. According to the documents, Moonves acknowledged working closely with then-Capt. Cory Palka of the Los Angeles Police Department in 2017 to obtain information about a sexual assault victim’s confidential police report against him. Moonves also met with Palka for an hour at a restaurant to discuss the complaint and ways to quash it. Los Angeles' Government Ethics Ordinance governs the conduct of city employees and forbids them from misusing or disclosing confidential information acquired through their work.

Persons: —, Les Moonves, Moonves, Cory Palka, Palka, didn’t, Weeks, Harvey Weinstein, Phyllis Golden, Gottlieb, Letitia James Organizations: ANGELES, CBS, Los Angeles, Los Angeles City Ethics, Los Angeles Police Department, LAPD, Hollywood Division, Lorimar Productions, New York, Moonves Locations: Los Angeles City, Los Angeles, Los Angeles County

☆ 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, ”

☆ At Rally in Michigan, Trump Lashes Out at Judge Who Fined Him $355 Million
▼ + stars: | 2024-02-17 | by ( Neil Vigdor | ) www.nytimes.com time to read: +1 min

Former President Donald J. Trump vented about his latest legal defeat to freezing supporters at a Michigan rally on Saturday night, a day after a New York judge fined him nearly $355 million plus interest in his civil fraud case. The Republican front-runner for his party’s presidential nomination, Mr. Trump denied that he had conspired to manipulate his net worth, which he was found liable of by Justice Arthur F. Engoron in a ruling that could wipe out Mr. Trump’s entire cash stockpile. “This judge is a lunatic,” he said in his opening salvo at his rally, held inside an airport hangar in Oakland County about 30 miles from Detroit. Mr. Trump used a similar line of attack against Letitia James, New York’s attorney general, who had accused him of exaggerating his wealth in the lengthy case. Barred by the judge for three years from serving in top roles at any New York company, including portions of his own Trump Organization, Mr. Trump cast aspersions on the justice system and said he had been persecuted.

Persons: Donald J, Trump, Justice Arthur F, ”, Letitia James Organizations: Republican, Trump Organization, Mr Locations: Michigan, York, Oakland County, Detroit, New, New York

☆ Trump Organization says $364 million fraud ruling will fuel the 'exodus of companies from New York' — but Trump's frauds may make him an outlier
▼ + stars: | 2024-02-17 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +5 min

The Trump Organization, Trump, and lieutenants face a $364 million judgment in a civil fraud case. But several factors, including the extent of Trump's fraud, could make him an outlier. "If allowed to stand, this ruling will only further expedite the continuing exodus of companies from New York," the Trump Organization spokesperson said. It's also worth noting the exceptional circumstances that led to the investigation into the Trump Organization. While running for attorney general in 2018, James promised to aggressively investigate Trump's business dealings.

Persons: —, Donald Trump, Arthur Engoron, Trump, Allen Weisselberg, Letitia James, Eric, Don Jr, James, Rahmani, Engoron, Bernard Madoff, It's, Alexandra Ocasio, Cortez, Michael Cohen, Cohen, affirmatively Organizations: Trump Organization, Trump, Service, New, New York, West, Trial, Trump University Locations: New York, York, New Jersey

In addition to the $355 million penalty — payback of what the judge deemed “ill-gotten gains” from his spurious financial statements — Trump is required to pay interest on that amount. James’ office calculates that, to date, Trump owes an additional $98.6 million in interest, bringing his total penalty to $453.5 million. Trump used $170 million of the $375 million to pay off a loan on the property. — $60 million, plus interest, from selling the rights to manage a New York City golf course in June 2023. Trump testified that regardless of what his financial statements said, banks did their own due diligence and would’ve qualified him for the loans anyway.

Persons: Donald Trump, “, ”, Arthur Engoron, Letitia James, who’s, Trump, who's, Friday's, what's, Engoron, James ’, Allen Weisselberg, Jeffrey McConney, — Trump, Eric, Donald Trump Jr, Donald Jr, untethered, ” Trump, Christopher Kise, would’ve, James, Engoron’s, Barbara Jones, Michael Cohen, Cohen, —, Forbes, Trump “, ” Engoron, Michael Cohen's Organizations: Republican, Trump, Trump Organization, longtime Trump Organization, TRUMP, New, Deutsche, Trump International Hotel, Waldorf, Bally's Corporation, Trump Organization finance, Division, Democrat Locations: New York, New, Manhattan, Lago, Florida, Miami, Chicago, Washington, New York City, Engoron’s, York, Trump

Judge Arthur Engoron has issued a ruling in Donald Trump’s’ New York civil fraud trial. New York Attorney General Letitia James is asking for $370 million from Trump and the co-defendants in disgorgement – or ill-gotten gains, alleging he filed fraudulent financial statements that allowed him to obtain loans and insurance policies at more favorable rates. The case goes to the heart of Trump’s image as a successful billionaire and includes accusations of fraud regarding his Trump Tower apartment, Mar-a-Lago estate and several golf courses, among others. Engoron has already ruled that Trump and his co-defendants engaged in fraud and ordered the cancelation of any business certificates they hold in New York, an action that is on hold pending Trump’s appeal. This ruling will address six additional claims against some or all of the defendants including conspiracy, issuing false financial statements, falsifying business records and insurance fraud.

Persons: Arthur Engoron, Donald Trump’s ’, Letitia James, Trump, Engoron Organizations: New York, Trump, disgorgement, New Locations: York, Mar, New York

☆ What the Civil Fraud Ruling Means for Trump’s Finances and His Empire
▼ + stars: | 2024-02-16 | by ( Jonah E. Bromwich | Ben Protess | ) www.nytimes.com time to read: +1 min

Donald J. Trump lost his civil fraud trial on Friday, as a judge found him liable for violating state laws and penalized him nearly $355 million plus interest. In total, Mr. Trump is expected to have to pay more than $450 million. Along with other punishments, he also barred the former president from leading any company in the state, including portions of Mr. Trump’s family business, for three years. Mr. Trump will appeal, and the case could take months if not years to resolve. But Justice Engoron’s decision could inflict immediate pain, threatening the former president’s finances and his influence over the Trump family business, known as the Trump Organization.

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

The decision also bans Trump from serving as an officer or director of any New York corporation, bans his two adult sons from serving for two years and fines his two adult sons $4 million. The blistering decision from Judge Arthur Engoron effectively eviscerates the business empire Trump built over decades – an empire that fed his ego, cemented his brand and ultimately propelled the real estate mogul to the world’s most powerful political position. “In order to borrow more and at lower rates, defendants submitted blatantly false financial data to the accountants, resulting in fraudulent financial statements," Engoron wrote. Here, despite the false financial statements, it is undisputed that defendants have made all required payments on time; the next group of lenders to receive bogus statements might not be so lucky. New York means business in combating business fraud.”Engoron anticipated finalizing his decision on damages by the end of January, but two new issues emerged that ultimately delayed the decision.

Persons: Donald Trump, Arthur Engoron, Trump, Justice Potter Stewart, Engoron, Letitia James, –, James, “, ”, he’s, He’s, ” Engoron, Trump's, Allen Weisselberg, pander, Jean Carroll Organizations: Trump, United States Supreme, Donald Trump View, New York, The New York Times, Manhattan, defaming Locations: York, New York, The

NEW YORK (AP) — Donald Trump's legal debts might now exceed a half-billion dollars. The verdict in the civil fraud trial requires Trump to pay interest on some of the deal profits he has been ordered to give up. As part of Friday’s ruling, the judge also ordered both of Trump’s sons to pay $4 million apiece. Last month, he was ordered to pay nearly $400,000 in legal fees to The New York Times after suing the newspaper unsuccessfully. Under the judge's ruling Friday, Trump would still be liable to pay even if the Trump Organization declares bankruptcy.

Persons: — Donald Trump's, Trump, Jean Carroll, Carroll, Letitia James, Hillary Clinton, Will Thomas, “, ” Thomas, that’s, ”, Daniel Weiner, Brennan, ” Weiner, We’re Organizations: Trump, New York, New York Times, New, University of Michigan, D.C, Truth, Trump’s, Commission, Trump Organization Locations: York, New York, Washington

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