Dispute with New York judiciary: Trump has to pay $ 10,000 a day

Status: 04/26/2022 00:39 a.m

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Former US President Trump and the New York judiciary have been at odds for years over the financial practices of his corporate empire. Now he has to pay $10,000 a day if he continues to refuse to provide documents.

Former US President Donald Trump has been fined $10,000 a day if he continues to refuse to turn over financial records to the judiciary. A New York judge found him guilty of contempt of court. He asked Trump to hand over the documents requested by New York Attorney General Letitia James.

The background is civil investigations by the Democratic Attorney General against Trump’s corporate empire for possibly fraudulent business practices.

Attorney General happy

James took the decision as a victory for justice and a sign that no one is above the law. “For years, Donald Trump has attempted to evade the law and prevent our lawful investigations into him and his company’s financial dealings,” she said.

A Trump attorney now said the documents had been handed over “months ago”. She announced legal action against Monday’s court decision.

Apparently fraudulent financial reports

According to James, Trump and the Trump Organization used fraudulent and misleading financial reporting to gain economic advantage. As part of a civil investigation, she is investigating suspicions that the Trump Organization artificially inflated the value of real estate when it wanted to obtain loans from banks and undervalued it in other cases in order to have to pay less taxes or insurance premiums. Trump’s company denies the allegations.

Donald Trump is the founder of the Trump Organization, his two sons Donald Trump Jr. and Eric Trump are the vice presidents of the company conglomerate, which is primarily active in the real estate sector. At the same time, criminal investigations against Trump and his empire are also underway in New York.