New York State demands $370 million from Trump in financial fraud case

The State of New York demands 370 million dollars from the former president donald trump in the court case in which he is accused of having artificially inflated the value of his properties, according to trial documents released this Friday.

The amount claimed is much higher than the $250 million that the New York Attorney General, Letícia James, He had announced that he would take legal action when the case begins in 2022.

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In an immediate reaction through his social network Truth Social, the Republican billionaire campaigning for November’s presidential elections once again attacked James, an African-American prosecutor whom he accuses of being “corrupt” and carrying out a “witch hunt”.

“I didn’t do anything wrong. “My financial statements are good and very prudent”, Trump nominated once again this Friday.

The former president, his sons Donald Jr and Eric and his family empire Trump Organization are accused by New York courts of having colossally inflated the value of their skyscrapers, luxury hotels and golf courses during the decade 2010 to obtain more favorable loans from banks.

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Donald Trump testified at the November 6 trial, during which he faced prosecutors for four hours and was at times reprimanded by the judge for his bitter responses. Arthur Engoron.

The judge ruled that James’ office had already presented “conclusive evidence” that Trump had exaggerated his net worth in financial documents to between $812 million and $2.2 billion between 2014 and 2021.

Therefore, the judge ordered the liquidation of the companies that managed the assets in question, such as Trump Tower and the 40 Wall Street skyscraper in Manhattan, a decision that is under appeal.

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Unlike some of Trump’s legal battles – including the criminal case against him, which accuses him of conspiring to overturn the 2020 election – the lawsuit brought by Democrat James does not carry any risk of prison time.

The amount to be paid will be determined by the judge at the time of the sentence, for which there is no confirmed date.

Source: Elcomercio

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I am Jack Morton and I work in 24 News Recorder. I mostly cover world news and I have also authored 24 news recorder. I find this work highly interesting and it allows me to keep up with current events happening around the world.