Tag

Business Fraud

All articles tagged with #business fraud

legal-politics1 year ago•3 min saved

"Trump's $355M Fraud Verdict: A Parting Shot from Judge Engoron"

New York Judge Arthur Engoron criticized Ivanka Trump's "inconsistent recall" in his ruling that ordered her father, Donald Trump, to pay $354.9 million in damages for business fraud. Engoron questioned Ivanka's denial of knowledge despite documentary evidence proving her involvement in key events. Donald Trump was also banned from serving as an officer or director of any New York corporation for three years, while his sons Donald Jr. and Eric were fined $4 million each and given two-year business bans. The judgment was condemned by Trump, who pledged to appeal, while New York Attorney General Letitia James welcomed the verdict, stating that there cannot be different rules for different people in the country.

via Newsweek|

#business-fraud #donald-trump #ivanka-trump

legal-politics1 year ago•7 min saved

"Trump Fined $355M, Banned from NY Businesses for 3 Years in Civil Fraud Trial"

A judge has fined Donald Trump and his company over $350 million in damages and barred him from running businesses in New York for three years, citing business fraud. The ruling also prohibits Trump from serving as an officer or director of any New York corporation for three years and from applying for bank loans. The judge criticized Trump and his executives for their lack of remorse and ordered the installation of an Independent Director of Compliance for the company. Trump faces multiple legal challenges, including four pending criminal trials, and plans to appeal the verdict.

via NBC News|

#business-fraud #civil-trial #donald-trump

legalcourt1 year ago•1 min saved

"Trump's Empire at Stake: Verdict Delayed in New York Fraud Case"

The verdict in the New York civil business fraud trial of former President Donald Trump has been delayed to early to mid-February, according to a court spokesman. Judge Arthur Engoron had initially aimed to issue his final ruling by Wednesday, but the new timeline is a "rough estimate" and "subject to modifications." The trial, which accuses Trump, the Trump Organization, his two adult sons, and top company executives of inflating Trump's net worth, was conducted without a jury to determine penalties and resolve claims of wrongdoing from the New York Attorney General's lawsuit.

via CNBC|

#business-fraud #donald-trump #legalcourt

legal-politics2 years ago•2 min saved

"New York AG Seeks Lifetime Ban for Trump, Citing Martin Shkreli Ruling"

New York Attorney General Letitia James is seeking a lifetime ban for former President Donald Trump from the state's real estate industry, citing a recent appeals court ruling against Martin Shkreli as supporting precedent. The ruling upheld a lower court's lifetime ban on Shkreli from the pharmaceuticals industry due to antitrust violations. James is currently suing Trump for alleged business fraud and is pushing for a lifetime ban, along with fines, for him and his sons. The legal connection between Shkreli and Trump stems from their controversial online behavior and real-world actions, despite their initial public clashes.

via CNBC|

#business-fraud #legal-politics #lifetime-ban

legalcriminal-justice2 years ago•2 min saved

Trump's Legal Troubles: No Escape from Fraud Trial, Says Cohen

Former Trump attorney Michael Cohen believes that the ongoing New York business fraud trial will mark the end of Donald Trump's business empire, as Cohen plans to testify against him. New York prosecutors allege that Trump and his sons committed business fraud by manipulating asset values to obtain favorable loans and insurance rates. A judge has already ruled that Trump committed fraud, and the trial will determine damages, with prosecutors seeking $250 million in penalties and a ban on Trump and his children running businesses in New York. Cohen claims to have evidence against Trump and predicts that the damages, with interest and penalties, could exceed $600 million, potentially leading to bankruptcy. Trump dropped a civil suit against Cohen, and a New York appeals court declined to halt the trial but paused the process of canceling Trump's business licenses.

via Yahoo News|

#business-fraud #financial-penalties #legalcriminal-justice

legalcriminal-justice2 years ago•2 min saved

Trump's Fraud Trial: Accountant Testimony Continues as Attorney General Stands Firm

The civil fraud trial examining whether former President Donald Trump exaggerated his wealth continued with an accountant testifying for the fourth day. The trial, brought by New York Attorney General Letitia James, alleges that Trump and his business manipulated financial statements to overvalue assets such as Trump Tower and Mar-a-Lago. Trump denies any wrongdoing and claims James is trying to damage his 2024 presidential campaign. The witnesses have been accountants who worked on the statements, with James' legal team aiming to show that Trump had control over their preparation. The defense argues that any errors were the fault of the accountant. Judge Arthur Engoron previously ruled that Trump engaged in fraud by inflating asset values, a ruling Trump has appealed.

via PBS NewsHour|

#business-fraud #financial-statements #legalcriminal-justice

politics2 years ago•1 min saved

Trump boasts court staff cried at his arrest and arraignment

In his first interview since being indicted on business fraud charges, former US President Donald Trump told Fox News that court officials "were crying" as he was processed at the Manhattan court. He maintained his innocence and argued there is no case against him. Trump also discussed foreign policy, praising Russian President Vladimir Putin, Saudi Arabia's leaders, and Chinese President Xi Jinping. The interview with Tucker Carlson comes after a recent filing from a defamation lawsuit revealed Carlson had said of Trump in a text message: "I hate him passionately."

via BBC|

#business-fraud #court-indictment #donald-trump