Trumps shady business fines trial#

The defense has been trying to show that if there were problems with the financial statements, the flubs were the mistakes of Donald Bender, Trump’s longtime personal accountant.

James’s legal team is working to show that Trump and his company had complete control over the preparation of the statements, with the accountants relying on information the Trump Organization provided. The witnesses so far have been two accountants who worked on the financial statements, which went to banks, insurers and others. Trump denies any wrongdoing and says James, a Democrat, is just trying to damage his 2024 presidential campaign.

Trumps shady business fines trial#

The business fraud trial stems from New York attorney general Letitia James’ lawsuit alleging that Trump and his business ginned up financial statements that vastly overvalued Trump Tower, Mar-a-Lago and other assets. Trump himself did not attend the proceedings Thursday, after choosing to be there – and avail himself of the news cameras waiting outside – for the three prior days. Seeking to prevent an end run around his ruling, Engoron told the defendants to give Jones advance notice of any application for new business licenses in any jurisdiction and any attempts to create new entities to “hold or acquire the assets” of a company that’s being dissolved under the ruling.Īlso on Thursday, an accountant who prepared Donald Trump’s financial statements was back on the witness stand for a fourth day Thursday in the New York civil fraud trial examining whether the former president exaggerated his wealth. The receiver will oversee the dissolution of the companies’ business licenses. It emerged on the fourth day of the trial that Engoron is now giving Trump’s lawyers until 26 October to submit a list of names of potential receivers.

The list of companies will be given to retired federal judge Barbara Jones, currently the court-appointed monitor overseeing the Trump Organization. On Thursday, New York judge Arthur Engoron issued an order that will carry out Trump’s punishment for a pre-trial ruling he made that found Trump and others within the Trump Organization created false and misleading financial statement that inflated his net worth.Įngoron ruled that the former US president will lose his business certificates in the state, essentially limiting his ability to run his real estate company.