NEW YORK (AP) — New York state lawyers on Friday increased their request for fines to more than $370 million in Donald Trump’s civil business fraud trial, while his defense argued that the more than 10 weeks of Testimonies produced no evidence of fraudulent intent or ill-gotten gains.
Both sides outlined their conclusions from the trial in documents submitted to the court ahead of closing arguments, which are scheduled for Thursday. Trump is scheduled to be present, although plans could change.
It will be the last chance for state and defense attorneys to make their arguments in a trial that is momentous for the favorite to win the Republican presidential nomination, even as he fights four criminal cases in various courts.
The New York civil case could prevent Trump from doing business in the state where he built his real estate empire, and the entity’s attorney general, Letitia James, is now asking that he be fined $370 million, plus interest, compared with 250 million dollars prior to the trial, which rose to more than 300 million during the process.
The amount reflects what the state says were ill-gotten gains, primarily $199 million in income from property sales and $169 million in interest rate savings, according to calculations by a hired investment banking expert. by James’ office.
James maintains that Trump got preferential interest rates on loans and insurance because of the wealth he reported on his personal financial statements. And that wealth was grossly inflated, according to the lawsuit, which accuses Trump, his company and key executives of deceiving banks and insurers.
The lawsuit alleges that the documents gave exorbitant values to golf courses, hotels and more, including Trump’s former home in his eponymous tower in New York and his current home at the Mar-a-Lago estate in Palm Beach, Florida.
Associated Press writers Michael R. Sisak and Jill Colvin contributed to this report.
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2024-01-05 22:13:11
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