Donald Trump has made a name for himself in New York real estate, carving his name on towers, plazas and skating rinks for half a century.
Now the state attorney general wants to drop it and ban him from working in the industry again, at least in New York.
Lawyers for New York Attorney General Letitia James sued Trump and other defendants for $370 million in “ill-gotten gains” in a Friday filing before closing arguments in Trump’s civil fraud trial. and asked for additional interest. The filing is a preview of sorts for arguments scheduled for Jan. 11, stating that “the myriad deceptive schemes they have employed to inflate asset values and hide the facts make innocent explanations believable. “It was so outrageous,” he said.
The $370 million figure is a significant increase from the $250 million James Office originally requested when it filed its lawsuit against the Trumps in September 2022.
A New York judge in September found Trump, his two adult sons, his company and two former executives liable for a decade of misconduct. The case ran from October to early December on allegations related to conspiracy, falsification of business records and insurance fraud.
James’ office claims in its filing that it has been proven that Trump and the company intentionally inferred the value of assets and total net worth in financial statements in order to obtain unusually favorable deals on loans and insurance. are doing.
During the trial, lawyers for the state presented internal company spreadsheets and correspondence that they argued were the basis of a year-long, systematic effort to drastically disguise Mr. Trump’s wealth.
“Direct evidence from multiple witnesses proves that Mr. Trump disclosed his desired net worth target each year…The CFO and comptroller then faithfully determined the target amount by reverse engineering asset values. ,” James’ attorneys wrote in Friday’s filing.
They said Trump “failed to provide a legally adequate response to the people’s certification.”
Mr. Trump’s lawyers did not respond to requests for comment. In a filing Friday, Trump’s lawyers wrote that “the Attorney General has failed miserably to prove his case and is not entitled to any relief sought in this lawsuit.”
Trump and his co-defendants vehemently deny the allegations. In testimony in November, he accused James and Judge Arthur Engoron of unfairly targeting him.
James’ office is seeking a lifetime ban on New York real estate for Trump and former executives Allen Weisselberg and Jeffrey McConney, as well as five-year bans for Donald Trump Jr. and Eric Trump.
Engoron’s final ruling in the case is expected in the coming weeks after closing arguments on January 11th.