New York state, which filed a financial fraud civil lawsuit against former President Donald Trump, his sons and their Trump Organization real estate empire, is now seeking “$370 million” in damages from them, court documents show Friday.
That's much more than the $250 million that Attorney General (equivalent to a regional attorney general), Letitia James, had sought in her fall 2022 lawsuit, which triggered the ongoing financial fraud civil case in the New York court where Donald Trump and his sons Donald Jr. and Eric have been testifying since October.
The Republican billionaire, who is campaigning for the presidential election in November, immediately reacted on his social network Truth Social and again attacked Ms. James, an African-American judge at the top of the judiciary in New York state and an elected representative of the Democratic Party, he accuses him , being “corrupt” and leading a “witch hunt.”
“I have done nothing wrong. “My financial reports are good and very prudent,” Donald Trump assured again on Friday.
Along with his sons and their family group, the Trump Organization, they are accused by New York's civil justice system of vastly inflating the value of the skyscrapers, luxury hotels and golf courses at the heart of their empire in the 2010s in order to get cheaper loans from banks and better ones Insurance conditions.
“Banana Republic”
Since the trial began in Manhattan on October 2, the 77-year-old businessman has railed against justice every time he has appeared in court, denouncing a “witch hunt” or a “trial worthy of a banana republic.” After attacks on his clerk, Judge Arthur Engoron banned Donald Trump from speaking about his team and imposed two fines totaling $15,000 on him for violating that order.
His lawyers denounce a legally empty file.
Unlike the criminal trials awaiting him this year, including the trial over his alleged maneuvers aimed at overturning the results of the November 2020 presidential election, Donald Trump will not risk prison time in this civil case.
But he plays big and things get off to a bad start.
Even before the trial opened, Judge Engoron estimated at the end of September that the prosecution had presented “conclusive evidence that the defendants overstated the assets” of the group by “812 million” between 2014 and 2021 [à] $2.2 billion,” according to figures recorded in Donald Trump’s financial statements, depending on the year.
Due to “repeated fraud,” he ordered the liquidation of companies that managed these assets, such as the Trump Tower on 5th Avenue in Manhattan and the 40 Wall Street skyscraper.
However, measures were stayed by an appeals court.
The lawsuit involves several other crimes, including insurance fraud and fines, sought by the New York Attorney General's Office, which is now seeking $370 million, up from $250 million as in the original lawsuit.
It remains up to Judge Engoron to conclude the proceedings this month and determine the amount of damages and reparation.