NY AG's office ups Trump civil penalty to $370 million

 January 6, 2024

The New York Attorney General's office now wants former President Donald Trump to pay $370 million in civil penalties for overstating the value of his business properties, a significant increase from the $250 million it had previously named. 

"Defendants reaped hundreds of millions of dollars in ill-gotten gains through their unlawful conduct," Friday's post-trial filing alleged.

Prosecutors have claimed that some of Trump's business profits were ill-gotten gains due to a decade-long pattern of inflating his property values on business documents to get financing he would not have been entitled to.

Experts argued for Trump that disclaimers on his documents disqualify the accusations, so banks were not relying on those figures even if they were inflated. This means that the financial penalties should be moot because they weren't based on fraud.

Fraud, but on which side?

Trial Judge Arthur Engeron seems more than willing to accept valuations that experts have testified are magnitudes too low, such as an $18 million valuation of Mar-A-Lago, which Trump claimed was worth hundreds of millions.

He started out the trial already convinced that Trump had committed fraud, so most of the trial has focused on how much the penalties should be.

Arguments in the case wrapped up mid-December and closing arguments are set for next week.

Trump's latest argument against the monetary penalties is that New York law does not allow an attorney general to seek financial penalties.

His team also said AG Letitia James failed to prove her case and should not be entitled to any relief.

Business restrictions

Besides monetary penalties, James is also asking for a number of restrictions on Trump's ability to run a business in New York.

His Trump Organization has already been in the hands of an overseer, retired federal judge Barbara Jones, for the last year, and James wants another five years of third-party oversight along with a five-year ban on applying for loans in New York or buying real estate there.

She also wants Trump and his former CFO Allen Weisselberg and former comptroller Jeffrey McConney to be prevented from ever holding executive positions in any New York state companies. Trump's two older sons Donald Jr. and Eric would also be banned from executive positions for five years.

One way or another, the left is bound and determined to get Trump in any way they can.

If they can't put him in jail, they'll just take as much of his money as they can and prevent him from doing business.

" A free people [claim] their rights, as derived from the laws of nature."
Thomas Jefferson
© 2015 - 2024 Conservative Institute. All Rights Reserved.