You should know about this fraud case judgment

(CNN) — The future of Donald Trump’s business empire is in the hands of a New York state judge.

After a contentious 11-week trial, Judge Arthur Angoron is set to decide how much money Trump and his co-defendants owe for the alleged fraud, as well as whether the former president can still do business in the state. Trump has already been ruled to have committed fraud.

A civil lawsuit by New York’s attorney general, Democrat Letitia James, seeks US$370 million from Trump and other defendants (the initial figure was US$250 million). It alleges that Trump submitted fraudulent financial statements that allowed him to obtain loans and insurance at more favorable rates.

The trial has hit hard at Trump’s image as a successful billionaire and includes allegations of fraud related to his Trump Tower apartment, his Mar-a-Lago estate and several golf courses, among other assets.

Engron said he hopes to issue a decision by January 31.

What’s at stake?

James is seeking $370 million in restitution or ill-gotten gains from Trump and co-defendants.

Engron has already ruled that Trump committed fraud and ordered the dissolution of his business empire, an action that Trump has pending an appeal. Engron revoked the business certificates of several Trump entities in New York, including the Trump Organization (a sprawling entity composed of 500 limited liability companies).

Engron also asked that a receiver oversee the dissolution of the entity, which includes buildings such as Trump Tower, 40 Wall Street and the Seven Springs family compound in Westchester County, New York.

His upcoming sentencing will address six other claims, including conspiracy, issuing false financial statements, falsifying business records and insurance fraud.

The attorney general’s office argued in its final filing that Trump “acted with intent” to fraudulently inflate the value of his assets in his financial statements.

“Trump is responsible for the conduct of Trump Organization executives Alan Weiselberg and Jeff McConey to increase their wealth,” attorney Andrew Amer, a lawyer for the attorney general’s office, said.

“Mr. Trump was certainly in the loop to review and approve the statements,” Amer said. “The court must infer that he acted with intent to defraud based on his extensive knowledge of these assets.”

How serious will Angoron be?

The back-and-forth between the judge, Trump and the former president’s lawyers was frequently heated during the trial. Trump’s social media posts and comments outside court also prompted a partial gag order and fine.

Angoron was unequivocal during the trial and in two written rulings against Trump and did not hold back when criticizing the former president.

“In a world of defendants: rent-regulated apartments are worth the same as unregulated apartments; restricted land is worth the same as unregulated land; sanctions can evaporate into thin air; denials from one party that “attribute responsibility to another are lies from the other party,” Engron v. Trump The summary judgment was written.

“It’s a fantasy world, not a real world,” the judge added.

And in December, a judge wrote a strong rejection of the former president’s attempt to dismiss the case.

In a three-page opinion denying a motion for a directed verdict to dismiss the case, Engron said experts called by Trump’s lawyers at trial were not credible and the defense’s main arguments were unpersuasive.

Assessments can be based on different criteria and analyzed in different ways, the judge wrote. “But a lie is still a lie.”

And Trump’s children?

In addition to banning Trump from doing business in New York for life, the attorney general is asking that Donald Trump Jr. and Eric Trump, co-CEOs of Trump Org., be banned from doing business in New York for five years.

But during a closing presentation earlier this month, Engron asked pointed questions to the attorney general’s office about whether Trump’s grown children were responsible for the attempted fraud and conspiracy. (They already found him guilty of fraud).

“What evidence do you have—I haven’t seen it—that they knew there was fraud?” asked Angoro.

Ivanka Trump was originally named as a defendant, but the claims against her were dismissed last year by an appeals court on the statute of limitations.

Trump’s arguments

Trump turned the civil trial into a campaign series, speaking to television cameras outside the courtroom several times a day while he was there. He has systematically framed the entire affair as political persecution, tried to undermine prosecutor Letitia James, feuded with the judge and his secretary, and accused, without evidence, the attorney general and the White House of conspiring to keep him out. of position.

“This is a political witch hunt,” Trump said in a dramatic moment in court earlier this month while speaking to Angoron. “What has happened here, sir, is a fraud against me.”

Legally, Trump and his team argue that there was no evidence of intent to defraud and that lenders were required to conduct their own due diligence, regardless of valuations at the Trump Organization. supplied.

Additionally, Trump says, companies like Deutsche Bank wanted to do business with Trump Org. And they made covenants with their eyes open.

Trump has already appealed Angoron’s earlier ruling and has vowed to appeal what he ruled here. It is unclear how quickly any decision will be implemented.

silence order

Trump’s behavior in and out of the room led to significant gag orders and fines issued by Angoron against the former president.

Angoron and one of his secretaries received “serious and credible” death threats; The judge also received a “sword” on closing arguments this month.

In early October, Trump made unsubstantiated allegations on social media about Engron’s paralegal, prompting the gag order. The judge later expanded the order so that Trump’s lawyers could not discuss the judge’s private communications with his law clerk.

The order does not limit public criticism of Angoron, the district attorney or other parties in the case.

As the trial neared its end in December, Angoro recalled.

“In a strange way, I will miss this trial,” the judge said. “It’s been an experience”.