(ConservativeSense.com) – A New York court rejected Donald Trump’s plea to delay a civil trial resulting from a probe into his business affairs by NY Attorney General Letitia James. Judge Arthur Engoron ruled on September 26 that the former President and the Trump Organization overinflated their wealth and fraudulently obtained financing to build Mr. Trump’s New York real estate empire. Engoron placed sanctions on the Trump Organization and other companies owned by the former President, making it difficult for him to operate in the Empire State.
Trump’s attorney, Christopher Kise, described the ruling as “outrageous” and “completely disconnected from the facts and governing law.” He added that Trump and his family will investigate all options and appeal this “miscarriage of justice.”
While President Trump dismissed the proceedings against him and accused both Judge Engoron and Attorney General Letitia James of being “Trump haters,” experts speculate that this could be the most damaging legal case against him to date. Bill Black, a financial regulation expert at the University of Minnesota, said, “It’s a devastating ruling.” He explained that if the decision is upheld, it could mean liquidating Trump’s limited liability companies, which own most of the former president’s assets.
The case is built upon allegations that Trump overinflated his financial worth by overestimating the value of his properties. For example, he allegedly lists his Manhattan penthouse apartment as 30,000 square feet when it is only around one-third of that size. Attorney General James seeks to impose a $250 million fine and bar the former President and his son Eric from operating in New York.
Donald Trump said he never missed a payment to a bank, and there are no victims in this case. Financial institutions “were paid back in full, sometimes early; there were no defaults; the banks made money,” he said.
While Judge Engoron has already delivered one ruling, the civil non-jury trial in Manhattan, expected to last until December, will rule on six separate but related allegations.
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