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Judge orders Trump and his company to pay $354 million in New York civil fraud case
(www.cbsnews.com)
this post was submitted on 16 Feb 2024
208 points (100.0% liked)
United States | News & Politics
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This is the best summary I could come up with:
"Every member of the New York business community, no matter the industry, should be gravely concerned with this gross overreach and brazen attempt by the attorney general to exert limitless power where no private or public harm has been established."
Trump and his legal team long expected a defeat, with the former president decrying the case as "rigged" and a "sham" and his lawyers laying the groundwork for an appeal before the judgment was even issued.
Even before Friday's ruling, the judge had largely affirmed James' allegations that Trump and others at his company inflated valuations of his properties by hundreds of millions of dollars over the course of a decade, and misrepresented his wealth by billions.
The trial, which began in October and wrapped up in January, focused on other aspects of the lawsuit related to alleged falsification of business records, issuing false financial statements, insurance fraud and conspiracy.
The lawsuit laid out seven causes of actions — the claims of illegal conduct that James' office said entitled the state to claw back ill-gotten profits and warranted severe sanctions against the defendants:
Engoron agreed in September with James' office that it was beyond dispute, based on evidence presented through pretrial filings, that Trump and his company provided banks with financial statements that misrepresented his wealth by billions.
The original article contains 1,569 words, the summary contains 217 words. Saved 86%. I'm a bot and I'm open source!
Screw, tin man.