Trump barred from operating business, ordered to pay over $350 million in NY civil fraud case

Posted 77 days ago

From WWW.FOXNEWS.COM

Former President Donald Trump was barred from operating his business in New York for three years and was found liable for more than $350 million in damages in the civil fraud case brought against him, his family and the Trump Organization by New York Attorney General Letitia James.

New York Judge Arthur Engoron handed down his ruling Friday after a months-long trial beginning in October and stemming from James' lawsuit alleging the former president inflated his assets and committed fraud.

Engoron ruled that Trump and defendants were liable for "persistent and repeated fraud," "falsifying business records," "issuing false financial statements," "conspiracy to falsify false financial statements," "insurance fraud," and "conspiracy to commit insurance fraud."

The judge also barred Donald Trump Jr. and Eric Trump from serving as an officer or director of any New York corporation or legal entity in New York for two years.

Engoron also "permanently" barred defendants Allen Weisselberg, the former chief financial officer of the Trump Organization, and the ormer corporate controller Jeffrey McConney from "serving in the financial control function of any New York corporation or similar business entity registered and/or licensed in New York State," and as a director of any New York corporation or other legal entity in New York for three years.

Engoron, in his 92-page ruling, criticized Trump and his testimony during trial, saying that he "rarely responded to the questions asked, and he frequently interjected long, irrelevant speeches on issues far beyond the scope of the trial."

"His refusal to answer the questions directly, or in some cases, at all, severely compromised his credibility," Engoron wrote.

Trump attorney Christopher Kise slammed the decision saying the court "ignored the law, ignored the facts, and simply signed off on the Attorney General's manifestly unjust political crusade against the front-running candidate for President of the United States."

"Legal cases are supposed to be decided based on the application of established legal principles to the actual evidence," Kise said. "During 44 days of trial, not one witness, not one complaint, and not one victim supported the Attorney General's manufactured claims of ‘fraud.'  Moreover, the evidence established President Trump's net worth far exceeded what was reported in his financial statements."

Kise said "even the bankers actually involved in the loans testified there was nothing misleading, there was no fraud, and the transactions were all highly profitable."

"But the Court blatantly refused to follow a binding Appellate Division decision, ignored and twisted the evidence, and imposed a draconian and unconstitutional fine and a corporate ‘death penalty’ on President Trump, his family, and the extraordinary global business empire he developed over a lifetime of hard work and achievement," Kise continued. "Hard to imagine a more unfair process and hard to believe this is happening in America."

Kise added: "Make no mistake, the sobering future consequences of this tyrannical abuse of power do not just impact President Trump."

Kise said that "when a Court willingly allows a reckless government official to meddle in the lawful, private, and profitable affairs of any citizen based on political bias, America's economic prosperity and way of life are at extreme risk of extinction."

"Both the trial and this unprincipled decision have certainly diminished public confidence in the integrity of the legal system," he said, adding that,  "left unchecked, this decision will cause irreparable damage to both the business community and the rule of law in our country."

Kise said Trump "will of course appeal and remains confident the Appellate Division will ultimately correct the innumerable and catastrophic errors made by a trial court untethered to the law or to reality."

The former president's attorney Alina Habba also blasted the verdict as "a manifest injustice - plain and simple."

"It is the culmination of a multi-year, politically fueled witch hunt that was designed to ‘take down Donald Trump,' before Letitia James ever stepped foot into the Attorney General’s office. Countless hours of testimony proved that there was no wrongdoing, no crime, and no victim," Habba said. "Given the grave stakes, we trust that the Appellate Division will overturn this egregious verdict and end this relentless persecution against my clients."... (Read more)










Latest News