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Financialpenalties

All articles tagged with #financialpenalties

legal2 years ago

"Trump Counters NY's $370M Civil Fraud Penalty Demand with Call for Compensation"

New York state lawyers are seeking over $370 million in penalties from Donald Trump in a civil business fraud trial, a significant increase from the pretrial figure. Trump, who is facing multiple legal challenges, has dismissed the case as a political attack and denies any wrongdoing. The state alleges Trump inflated his net worth to banks and insurers, while Trump's defense argues there was no victim or damages and that financial statements were understood as starting points for analysis. The verdict, which will be decided by a judge without a jury, is expected by the end of the month.

via The Associated Press|
##financialpenalties#legal
legal2 years ago

New York AG Ups Ante to $370M in Trump Civil Fraud Case

New York Attorney General Tish James is seeking a $370 million fine against Donald Trump and his business empire for civil fraud, an increase from the initially proposed $250 million. The trial, which began in October, presented evidence that Trump exaggerated his asset values to secure favorable loan and insurance terms. The additional penalty is based on the financial benefits Trump allegedly gained from these actions. Trump's defense maintains that his net worth was not inflated in financial documents and that banks and insurers did not rely on those documents. The trial is concluding, with closing arguments scheduled and a ruling from Justice Arthur Engoron expected soon.

via POLITICO|
##civilfraud#financialpenalties