OAN’s Sophia Flores
5:17 PM – Friday, January 5, 2024
New York Attorney General Letitia James is now demanding that Donald J. Trump pay up $370 million in penalties for what she claims is retribution for “decades” of financial fraud.
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When James first sued Trump in the fall of 2022, she asked the judge that Trump be penalized $250 million for “inflating his net worth in order to retain better loans” from banks. Her number rose to $370 million on Friday, as she now believes that through the trial, he gained all of his money unlawfully.
The fraud trial began in October 2023 and the proceedings concluded last month.
Even though the proceedings have ended, the former president’s legal fate has not yet been revealed. Closing arguments will be made in front of the trial judge, Arthur Engoron, next week.
In addition to wanting the large sum from Trump, she is also fighting to bar him and his sons from conducting any further business in The Empire State.
Trump’s lawyer, Christopher M. Kise, responded to the brief on Friday. He referred to the new amount as “unconscionable, unsupported by the evidence, untethered from reality and unconstitutionally excessive.”
“Every single member of the New York business community, no matter the sector, 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 ever been established,” a Trump Organization spokeswoman said.
Trump maintains that his assets were genuinely valued and he has since denied any misconduct, stating on numerous occasions that there were disclaimers in his financial statements. He also requested that the banks review the figures.
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