Judge Engoron delivered a significant verdict today, concluding an 11-week trial against Trump Org. The New York Attorney General had accused Donald Trump of long-term fraudulent business activities. As a result, Judge Engoron imposed a hefty fine of $372 million on Trump and revoked his business licenses in New York, severely hindering his ability to operate business there.
Additionally, the Attorney General’s request to prohibit Donald Trump, Jr., and Eric Trump from engaging in New York business activities for three years was not upheld by Engoron, citing a lack of evidence proving their awareness of their father’s fraudulent actions.
Previously, Trump was found liable for some charges, leading to the revocation of his business licenses. However, these penalties were postponed pending appeal. This recent ruling extends the financial penalty and license suspension to the remaining charges.
Engoron determined that Trump consistently overstated his assets in financial statements to banks for better financing deals, often relying on his estimations instead of external appraisals. Despite Trump’s defense team, led by Alina Habba and Chris Kise, arguing that disclaimers in these statements rendered them “worthless,” Engoron disagreed. He stated that Trump was still obligated to provide accurate financial information, and a disclaimer does not negate this duty.
