NEW YORK — Lawyers representing Donald Trump have requested clarification from a judge regarding the consequences of a recent fraud ruling on the former president’s real estate empire. Trump expressed his dismay over the ruling, which resulted in the appointment of a court-appointed receiver to oversee some of his companies, referring to it as the “KILL TRUMP” decision.
However, the judge, Arthur Engoron, expressed uncertainty about the impact of his ruling. He stated that he was not prepared to discuss the implications of the ruling, which revoked the New York-issued business licenses for Trump’s entities, on his company and the prominent properties bearing his name.
In a scathing 35-page opinion, Judge Engoron concluded that Trump and his company, the Trump Organization, consistently deceived banks, insurers, and others by inflating the value of his assets and exaggerating his net worth on documents used for deals and loans. Trump’s legal team has announced their intention to appeal the decision.
During the hearing, Trump’s lawyer, Christopher Kise, urged the judge to clarify whether the ruling would result in the closure of certain corporate entities or the relinquishment of valuable assets such as Trump Tower and a Manhattan office building. Judge Engoron, while discussing the matter with his law clerk, Allison Greenfield, did not issue a ruling but indicated that it would be addressed in the future.
Kise also raised concerns about the ruling’s scope, pointing out that some limited liability corporations owned by Trump were used to purchase private homes rather than commercial properties. Engoron appeared willing to find a compromise on this issue but did not commit to a specific resolution.
The ruling addressed the main claim in New York Attorney General Letitia James’ lawsuit against Trump, but other claims remain unresolved. The judge is expected to decide on these remaining claims and James’ request for $250 million in penalties at a trial starting on October 2. However, Trump’s legal team has requested a delay, and a ruling on the matter is anticipated soon.
Despite the ruling, Kise questioned the necessity of the trial, arguing that since Judge Engoron had already ruled on the primary issue, further proceedings would be pointless. However, Kevin Wallace, senior enforcement counsel in James’ office, emphasized the importance of the trial, as it would allow them to pursue conspiracy allegations and present evidence to support their request for the full financial penalty.
Engoron suggested that the trial might last up to three months. The attorney general’s office has named Trump, his sons, and other Trump Organization executives among the potential witnesses. The judge’s ruling revealed that Trump had lied about the size and value of his properties, including his three-story penthouse in Trump Tower and his Mar-a-Lago estate.
In a post on his Truth Social platform, Trump criticized Engoron’s ruling, claiming that properties were valued too low despite overwhelming evidence supporting higher values. Despite the ongoing legal proceedings, the future of Trump’s real estate empire remains uncertain.
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