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Donald Trump has failed in an attempt by the New York appeals court to delay a fraud trial against him. The procedure should now start as planned next Monday, the New York Times wrote on Thursday (local time). At stake for the ex-American president is control of various properties in New York state. It is still unclear whether Trump could even be forced to sell some monuments, including Trump Tower in Manhattan.
In a preliminary ruling on Tuesday, New York judge Arthur Engoron had already accused the ex-American president of manipulating the goodwill of his Trump organization for years. The ex-president, his sons and senior employees systematically overestimate the value of the company in annual reports in order to obtain loans and insurance contracts on more favorable terms. In doing so, Trump violated New York law. Judge Engoron ordered the revocation of Trump and his sons’ business licenses. This could make it difficult for the family to continue real estate activities in New York.
He does not risk a prison sentence, but a fine of 250 million
According to US media reports, the proceedings will include determining the exact penalties from next week. The case brought by New York Attorney General Letitia James is a civil matter and Trump is not threatened with prison time. James wants to ensure that Trump has to pay $250 million in restitution and is no longer allowed to do business in New York. Trump and other defendants are expected to testify, the Washington Post wrote. Trump denies all allegations. A final decision is expected in December.
For example, Trump detailed that the size of his Trump Tower apartment was around 2,800 square feet for years, even though it was only a good 1,000 square feet, it was said on Tuesday. As a result, the property was overvalued by up to $200 million. Financial documents say the value of his Mar-a-Lago estate in Florida has been inflated by 2,300 percent.
Since the end of his presidency, Trump has been faced with legal problems or investigations on various fronts that could have legal consequences for the 77-year-old. Trump wants to run again in the presidential elections next year.
(SDA)
Source: Blick
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
