In the aftermath of losing major business licenses from key companies, Trump is gearing up for the phase of the New York fraud trial on January 11, all while Attorney General Letitia James confidently says that “justice will prevail.”
Legal Tension Rises
New York’s Attorney General, Letitia James has approached Judge Arthur Engoron with a proposal to impose heavy financial penalties possibly reaching hundreds of millions of dollars against Donald Trump and his company, the Trump Organization.
The Final Blow
James expressed her eagerness last month to present the closing argument, emphasizing her confidence in the case and her belief in the triumph of justice. She insists that nobody, not even the former president and current presidential candidate, is above the law.
No One Above Law
“I’m confident in our case and that justice will prevail,” James expressed. “No matter how powerful you think you are, or how much money you think you have, everyone is equal under the law, even Donald Trump”
Business Losses Hit Trump Hard
The 74-year-old judge has already gone beyond what Attorney General James requested. In a pre-trial summary judgment, he agreed to revoke the business licenses of crucial Trump companies overseeing key properties like Trump Tower in Manhattan and the Mar-a-Lago estate in Florida.
Final Verdict Nears
Engoron, who has served for 20 years in the New York City Civil and State Supreme Court, has expressed his intention to reach a final verdict in this bench trial before the month concludes, a decision that will determine Trump’s fate in a case that, so far, does not appear to be in his favor.
Hefty Fine Looms Ahead
The expectation is that Trump will incur a significant fine, especially after Judge Engoron found him guilty of artificially inflating his asset values to obtain better bank loan terms.
Trump Trio Faces $250M Legal Battle
Donald Trump, with his extensive experience in court testimonies, is a co-defendant alongside his eldest sons, Donald Trump Jr. and Eric Trump, in the $250 million civil fraud lawsuit.
A Legal Rarity
This case stands apart from conventional fraud lawsuits – it has been initiated under a potent New York statute that grants the attorney general extensive authority to probe and prosecute corporate fraud.
Due to the application of this law, Justice Engoron is set to resolve the lingering issues in a bench trial, where a judge, not a jury, makes the final decision.
Political Bias Accusations
In response to the accusations leveled by James, the defense is tackling allegations that the former president inflated his net worth by billions to gain unfair advantages. Trump firmly denies all allegations of misconduct, repeatedly stating that the litigation is a result of political bias.
“All Democrats, all haters”
Engoron’s role in overseeing the fraud case has drawn intense criticism from Trump, who, during his testimony on November 6, accused Engoron of being biased against him.
“You and every other Democrat district attorney, A.G., and U.S. attorneys were coming at me from 15 different sides, all Democrats, all haters,” Trump claimed.
No Jail, But Serious Implications
The New York Times reports that while Mr. Trump is not in danger of imprisonment if he loses this case – a risk present in the four criminal cases he currently faces – the civil trial could nonetheless bring about grave consequences for both Trump and his family enterprise.
Real Estate Ban for Trump in NY
Attorney General James is aiming to recover $250 million in unlawfully gained profits. She intends to restrict Mr. Trump and his company from participating in any commercial real estate deals in New York State for five years, s, as well as preventing them from applying for loans from New York banks throughout this timeframe.
More from AllThingsFinance: Court Finally Unseals Secretive Case of Jan 6 Offender
Samuel Lazar sentenced for Jan. 6 insurrection; previously confidential case now revealed: Court Finally Unseals Secretive Case of Jan 6 Offender
Jack Smith continues pushing Judge Cannon, reminding her that “the speedy trial clock” is ticking
Jack Smith urges Judge Aileen Cannon for a speedy trial in a classified documents case involving ex-President Trump: Jack Smith continues pushing Judge Cannon, reminding her that “the speedy trial clock” is ticking
Defamation lawsuit against Kari Lake advances while people compare her to Rudy Giuliani
Kari Lake loses First Amendment right to accuse Maricopa County recorder; Arizona Republic ponders if she’s channeling Rudy Giuliani in her sleep : Defamation lawsuit against Kari Lake advances while people compare her to Rudy Giuliani
More Democrats are flipping in a crucial swing state than Republicans
In Pennsylvania, a significant number of registered Democrats flipping is sending an unflattering signal to President Biden: More Democrats are flipping in a crucial swing state than Republicans
