In the aforementioned lawsuit, it has been determined by Judge Arthur Engoron that Donald Trump, together with his sons Eric and Don Jr., engaged in fraudulent activities by artificially increasing the worth of the Trump Organization's real estate and financial assets over an extended period of time.
The current objective of New York Attorney General Letitia James is to pursue a sum of $250 million in penalties, as well as the removal of Trump and his sons from their positions of authority within the family enterprise.
President Donald Trump announced his intention to attend the commencement of the trial on Monday morning, as stated on Sunday evening.
The individual, aged 77, expressed their intention to appear in court the next morning with the purpose of defending their name and reputation. This statement was shared on their Truth Social platform. The entirety of this case is a fraudulent representation.
In addition to the ongoing legal lawsuit, it is noteworthy that Donald Trump is also confronted with multiple significant criminal processes in the upcoming months.
The individual in question has been slated to make an appearance before a federal judge in Washington on March 4th. The charges leveled against him pertain to his alleged efforts to subvert the outcome of the 2020 presidential election, which resulted in the victory of Joe Biden.
Subsequently, Trump will find himself once again facing legal proceedings in a New York state court, this instance pertaining to criminal charges related to hush money. Furthermore, he will be summoned to a federal court in Florida, where allegations of mishandling secret data subsequent to his departure from office have been raised against him.
Ultimately, the individual in question will additionally be required to address state charges in Georgia. Prosecutors assert that Trump engaged in unlawful efforts to manipulate the outcome of the 2020 election in his favor within the southern state.
In the civil lawsuit conducted in New York, Judge Engoron determined that Donald Trump, together with his two eldest sons and other high-ranking employees of the Trump Organization, engaged in a pattern of deception spanning several years. This plan involved providing false information to tax authorities, lenders, and insurers, resulting in an overstatement of the properties' worth by an estimated range of $812 million to $2.2 billion from 2014 to 2021.
The event can be characterized as a significant setback.
Consequently, the judge rescinded the business licenses that granted the Trump Organization the authority to conduct operations at certain locations in New York.
According to Will Thomas, a professor of corporate law at the University of Michigan, the implementation of these sanctions would significantly impede Donald Trump's capacity to engage in commercial activities within the State of New York in the future (AFP, 2021).
In light of the aforementioned circumstances, it is plausible that Trump, renowned for his achievements and wealth as a real estate tycoon during the 1980s, and having pledged to employ his aggressive industry strategies in his presidential role, may potentially face the risk of relinquishing control over a substantial number of his company's prominent assets, including the esteemed Trump Tower located on 5th Avenue in Manhattan.
As per the statement made by Attorney General James, a member of the Democratic party, it has been said that one of the places subject to fraudulent overvaluation is President Trump's personal apartment within the aforementioned structure, which was purportedly represented as being three times larger than its actual size.
According to James, it is alleged that there was an overvaluation of about $200-$300 million in financial reports for another property located at 40 Wall Street in Manhattan.
The opulence associated with Trump's properties The case filed by James includes references to Mar-a-Lago resort in Florida, which was the location of the classified papers controversy, as well as many golf clubs owned by the Trump Organization.
Prominent witnesses –
President Trump has consistently disregarded the civil claims made in New York, making derogatory remarks about Attorney General Letitia James, who is of African American descent, by accusing her of being "racist." Additionally, he has labeled Judge Engoron as "deranged."
On the Truth Social platform, former President Trump asserted that his activities of repaying Wall Street Banks in their entirety, including with interest, without any defaults or victims, did not involve any type of misconduct.
It is anticipated that numerous witnesses would be summoned to provide testimony during the trial, including former President Trump and Allen Weisselberg, the former finance director of the Trump Organization. Weisselberg had already been incarcerated subsequent to his admission of guilt in a distinct tax fraud case involving the organization.
The offspring of Donald Trump, namely Eric, Don Jr., and Ivanka, who initially faced allegations in James's complaint but were ultimately not subject to legal action, are expected to provide their own testimonies as well.
It is anticipated that Michael Cohen, a former lawyer of Donald Trump who has since become a vocal adversary of the ex-president, as well as representatives from certain financial institutions associated with Trump, would make appearances.
