Lawyers for Trump Request Clarification from Judge on Effect of Fraud Ruling on Former President’s Businesses
Former President Donald Trump’s lawyers are requesting clarification from a judge regarding the effect of a recent fraud ruling on Trump’s real estate empire. The ruling, issued on Tuesday, transfers control of some of Trump’s companies to a court-appointed receiver. Trump referred to the decision as the “KILL TRUMP” ruling and expressed his disapproval.
However, Judge Arthur Engoron, who will preside over a non-jury trial on the remaining issues in the civil lawsuit against Trump, stated that he is not ready to discuss the real-world implications of the fraud finding. The judge acknowledged that the case has significantly changed, but declined to provide further details.
In his 35-page opinion, Engoron found that Trump and his company, the Trump Organization, engaged in deceptive practices by inflating the values of assets and exaggerating Trump’s net worth on official documents. Trump’s lawyers plan to appeal the ruling.
During a hearing, Trump’s lawyer, Christopher Kise, asked the judge to clarify whether the ruling would require Trump to close down some corporate entities or relinquish certain prized assets, such as Trump Tower and an office building at 40 Wall Street. Engoron did not provide a ruling at that time but indicated that the issue will be addressed in the future.
The scope of the ruling, specifically its impact on limited liability corporations controlled by Trump, was also raised by Kise. Engoron appeared willing to work out a compromise on this matter.
The trial on the other claims in the lawsuit is scheduled to begin on October 2nd, and James’ office has requested $250 million in penalties. Trump’s lawyers have asked for a delay, and a ruling on the request is expected on Thursday.
Overall, the ruling and subsequent request for clarification from Trump’s lawyers reveal the complexity of the legal battle surrounding Trump’s businesses and the potential ramifications of the fraud finding.
Unique Perspective: The recent ruling and subsequent legal proceedings surrounding the fraud finding against Donald Trump highlight the ongoing challenges faced by former presidents when it comes to their business ventures. The case not only raises questions about the future of Trump’s real estate empire but also sheds light on the impact of legal decisions on the reputation and financial stability of high-profile individuals. It serves as a reminder that no matter one’s position, the law applies to all and can have significant consequences.
