A judge has found former US President Donald Trump guilty of financial fraud. New York judge Arthur Engoron ruled on Tuesday that Trump had deliberately overestimated the assets of his real estate empire in the past, for example to get better terms on loans.
It is a fundamental decision before the actual start of a civil trial against the 77-year-old Republican next week.
New York State Attorney General Letitia James sued Trump and his three eldest children in September 2022 on financial fraud charges. The Trump Organization family holding company allegedly overstated assets by billions of dollars between 2011 and 2021 to “secure and maintain loans and insurance on more favorable terms,” according to a court document from the attorney general’s office.
How much is the fine?
The action left the defendants with “hundreds of millions of dollars in ill-gotten savings and profits,” the document continued. Attorney General James is demanding, among other things, fines of 250 million dollars (about 235 million euros).
The lawsuit was originally against Trump’s three eldest children, Ivanka, Donald Junior and Eric Trump. However, Ivanka has since been removed from the lawsuit.
There is no risk of imprisonment
The civil trial against Trump, his two eldest sons and several other defendants in New York begins next Monday. With his ruling on Tuesday, Judge Engoron already anticipated an important ruling on how this is possible in such a procedure. One question in the trial will be how severe the sentence against Trump will be. The ex-president is not threatened with prison time in this civil case.
The situation is different in four criminal cases in which Trump was charged this year. The Republican was initially charged in New York in the spring with paying hush money to a porn actress before the 2016 presidential election. This was followed by an indictment by the federal judiciary in the affair surrounding secret documents that Trump took from the White House to his private estate in Mar-a-Lago, Florida.
In early August, Trump was also indicted by the federal judiciary over his efforts to overturn the results of the 2020 presidential election to remain in power. This was followed in mid-August by an indictment in the southern state of Georgia on similar charges.
Trump popular despite affairs
Trump has denied all allegations. The 77-year-old right-wing populist describes the proceedings as a politically motivated attempt to torpedo his bid for the presidential elections in November 2024. Trump is the overwhelming favorite in the race for the Republican presidential nomination – despite his numerous legal problems.
Source: Krone
I am Wallace Jones, an experienced journalist. I specialize in writing for the world section of Today Times Live. With over a decade of experience, I have developed an eye for detail when it comes to reporting on local and global stories. My passion lies in uncovering the truth through my investigative skills and creating thought-provoking content that resonates with readers worldwide.
