A New York state judge has the future of Donald Trump’s business empire in his hands.
After a contentious 11-week trial, Judge Arthur Engoron is poised to rule how much money Trump and his co-defendants owe for fraud as well as whether the former president can still do business in the state. He has already ruled that Trump engaged in fraud.
The civil lawsuit from New York Attorney General Letitia James, a Democrat, is seeking $370 million from Trump and the other defendants (the figure was originally $250 million). She alleges that Trump filed fraudulent financial statements that allowed him to obtain loans and insurance at more favorable rates.
The trial goes to the heart of Trump’s image as a successful billionaire and includes accusations of fraud regarding his Trump Tower apartment, Mar-a-Lago estate and several golf courses, among other assets.
Engoron has said he hopes to issue a decision by January 31.
James is asking for $370 million from Trump and the co-defendants in disgorgement – or ill-gotten gains.
Engoron has already ruled that Trump has engaged in fraud and ordered the dissolution of his business empire, an action that is on hold pending Trump’s appeal. Engoron canceled business certificates for many of Trump’s entities in New York, including the Trump Organization (a sprawling entity comprised of 500 limited liability companies).
Read more at AOL.com
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