New York – New York State Supreme Court Justice Arthur F. New York Attorney General Letitia James released the following statement today after Engoron ruled in her favor in her office’s civil fraud case against Donald Trump, other individual defendants, and Trump Organization entities. , ordered the defendants to pay a total of more than $450 million, representing $363.8 million in disgorgement and pre-judgment interest:
“Today, justice has been served. This is a tremendous victory for this state, this nation, and all those who believe we should all play by the same rules – even former presidents.
“For years, Donald Trump engaged in massive fraud to falsely inflate his net worth and unjustly enrich himself, his family, and his organization. Although he may have penned the ‘Art of the Deal’, our case revealed that his business was based on the art of theft.
“When powerful people commit fraud to get better loans, it is at the expense of honest and hardworking people. Everyday Americans can’t lie to the bank to get a loan to buy a home, and if they do, our government will fine them. There cannot be different rules for different people.
“Now, Donald Trump finally faces accountability for his lies, fraud and staggering fraud. Because no matter how big, rich or powerful you think you are, no one is above the law.”
Justice Arthur F. The decision issued today by Angoron provides the following relief:
- Donald Trump and the other defendants have been ordered to pay a total of more than $450 million, representing $363.8 million in disgorgement and pre-judgment interest;
- Donald Trump, Allen Weisselberg and Jeffrey McConkey are banned from serving as officers or directors of any New York company for three years;
- Allen Weisselberg and Jeffrey McConkey are banned for life from holding financial management roles at any New York company;
- Donald Trump, Jr. and Eric Trump are banned from serving as officers or directors of any New York company for two years;
- Donald Trump and his companies are banned from applying for loans from any bank or financial institution in New York for three years;
- A new, independent compliance director role will be created at the Trump Organization to ensure that the company establishes internal protocols and meets financial reporting obligations; And
- The current independent, external monitor will continue to monitor the company’s financial transactions and ensure that this fraud cannot continue.
After a three-year investigation, in September 2022, Attorney General James filed suit against Donald Trump, several companies and senior executives of the Trump Organization for engaging in financial fraud and illegal conduct. In September 2023, before the trial began, Justice Engoron issued a ruling granting Attorney General James’ motion for partial summary judgment, finding that Donald Trump and the defendants miscalculated the value of his assets. Committed fraud by increasing the amount. Today’s judgment and order that Donald Trump and the other individual defendants also engaged in illegal conduct and that relief against the defendants is necessary to prevent further fraudulent and illegal conduct comes after an 11-week trial, which concluded with closing arguments last month. Ended with.
The investigation and subsequent legal action was led by Senior Enforcement Counsel Kevin Wallace, Special Counsel Andrew Amer, Assistant Attorney General Colleen K. Faherty, Assistant Attorney General Alex Finkelstein, Assistant Attorney General Will Handley, Assistant Attorney General Stephanie Torre, Assistant Attorney General Sheriff. Gerber, Special Counsel Eric R. Haren, Real Estate Finance Enforcement Section Chief Lewis M. Solomon, former Assistant Attorney General Mark Ladow, former Assistant Attorney General Austin Thompson, and Legal Aid Analysts Samantha Stern and Labiba Hassan. Additional assistance was provided by data analyst Anushua Chaudhry, senior data analyst Akram Hasanov, data analyst Blake Rube, former data scientist Chansu Song, former deputy director of research and analytics Megan Thorsfeldt, and former director of research and analytics Jonathan Verberg; as well as information technology specialist Hewson Chen, information technology specialist Paige Podolny, and information technology specialist John Roach. Appellate support was provided by Deputy Solicitor General Judith Welle, Deputy Solicitor General Ester Murdukhayeva, Senior Assistant Solicitor General Dennis Fan, Assistant Solicitor General Cleland Welton, Assistant Solicitor General Daniel Magee, and former Assistant Solicitor General Eric del Pozo. The investigation was overseen by First Deputy Attorney General Jennifer Levy.
A copy of the judgment is available for download here.
