Former President Donald Trump faces a notable legal setback as Judge Arthur Engoron ruled on a civil lawsuit brought forth by New York’s Attorney General Letitia James.
Engoron found, on Tuesday, that Trump and his company engaged in deceitful practices for years, overvaluing assets and inflating net worth on documents pivotal for deals and financings in his real estate ventures.
The lawsuit alleges fraudulent activities aimed at deceiving banks, insurers, and other entities.
The adjudication adds considerable momentum to the assertions that the American political establishment is orchestrating “lawfare” against Trump.
Trump, reacting on his social media platform, Truth Social, vehemently denied the allegations, saying, “I have a Deranged, Trump Hating Judge, who RAILROADED this FAKE CASE through a NYS Court at a speed never seen before, refusing to let it go to the Commercial Division, where it belongs, denying me everything, No Trial, No Jury.”
He branded the judgment as politically motivated and stressed that his net worth is considerably greater than the figures noted on the financial statements.
Judge Engoron’s decision surfaces just before the commencement of a non-jury trial and has been labeled as the most emphatic rebuke of the former president yet.
It dismisses Trump’s assertion that disclaimers on his financial statements exempted him from any misconduct.
Despite the pivotal ruling, six more claims await resolution in this high-profile case, with the non-jury trial slated to start on Oct 2 and possibly extending into December.
Attorney General James is advocating for a hefty $250 million in penalties and is seeking to impose a ban on Trump from conducting any business in New York.
Manhattan prosecutors had previously contemplated a criminal case surrounding the same conduct but ultimately refrained, allowing James to proceed with her civil lawsuit.
The defense team for Trump lobbied for the dismissal of the case, arguing lack of legal grounding and asserting that James wasn’t legally authorized to initiate the lawsuit, citing no tangible evidence of public harm emanating from Trump’s actions.
These defense arguments were ultimately unheeded, further reinforcing allegations of lawfare intended to thwart Trump’s potential run in the 2024 elections.
Trump further argued on Truth Social: “In addition to the fact that my Net Worth is much greater than the number shown in the Financial Statements, there is a POWERFUL Disclaimer Clause (some call it a “non-reliance clause,” others a “buyer beware clause”), BOLDLY STATED on pages 1 & 2.” He maintained that the involved banks were fully cognizant and accepting of the disclaimers, emphasizing the absence of any loan defaults or issues, and accused the ongoing lawsuit of being a “POLITICALLY MOTIVATED WITCH HUNT by a Racist Attorney General, and a Deranged, Trump Hating Judge.”
