NY AG Letitia James calls for $370M fine and lifetime ban from real estate industry for Trump. New York Attorney General Letitia James has put forward a request for a substantial fine of $370 million against former President Donald Trump and his companies.
Alongside this, she is proposing a lifetime ban on Trump and two former executives from his company, preventing them from participating in the real estate industry within the state of New York.
These demands stem from a recent trial where Trump and his company were found liable for engaging in repeated and persistent fraud in relation to financial statements.
The attorney general’s office outlined these requests in legal documents submitted after the trial. They specified that Trump is allegedly indebted to the tune of $168 million in interest saved through fraudulent activities, an additional $152 million from the sale of a building in Washington, D.C. (the Old Post Office building, which houses one of Trump’s hotels), $60 million through the transfer of a contract related to the Ferry Point Golf Course, and $2.5 million from severance agreements with former Trump Organization executives Allen Howard Weisselberg and Jeff McConney.
In addition to the financial penalties, Letitia James is advocating for lifetime bans for Trump, Weisselberg, and McConney, prohibiting them from participating in real estate activities and serving as officers or directors in New York corporations or entities.
The attorney general is also proposing five-year bans for Trump’s sons, Donald Trump Jr. and Eric Trump, under similar conditions.
The trial, which commenced in October and concluded with testimonies last month, revolves around allegations of fraud in Trump’s financial statements. The presiding judge is expected to make a decision following closing arguments scheduled for January 11.
Throughout this legal process, Donald Trump has consistently denied any wrongdoing, characterizing the case as a politically motivated attack and expressing his intent to appeal any adverse rulings.
In a separate legal filing, Trump’s defense team argued that there is insufficient evidence to support the claim that he intended to defraud. They asserted that the attorney general’s office failed to establish insurance fraud and emphasized that financial institutions conducted their own due diligence on the statements in question.
Responding to these developments, Trump took to Truth Social, a social media platform, stating in all capital letters, “I did nothing wrong, my financial statements are great, & very conservative, the exact opposite of what the highly political & totally corrupt New York state attorney general says.” He criticized the case, advocated for it to be handled in a different court division, and accused the attorney general of prosecutorial misconduct.
The attorney general’s office contends that Trump and others involved committed illegal acts with the intent to defraud, resulting in millions in ill-gotten gains. The sum sought in fines exceeds the initial estimate of $250 million made in 2022.
Beyond this case, Trump is grappling with multiple legal challenges, including federal charges related to alleged election interference, mishandling classified documents, and state election interference charges in various jurisdictions. These legal battles underscore the complex legal landscape surrounding the former president as he navigates multiple legal fronts.
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