'Dramatic punishment': Inside the trial that could end the Trump Org
Donald Trump, the clear frontrunner in the 2024 GOP presidential primary, will be spending a lot of time in court in the months to come. In addition to facing four criminal indictments, the former president is dealing with a variety of civil lawsuits.
Trump's trial in New York State Attorney General Letitia James' civil fraud case begins in early October, with Justice Arthur Engoron presiding. James alleges that the Trump Organization artificially inflated the value of its real estate assets in New York State.
This is strictly a bench trial, which means that there is no jury. But the outcome could have a major impact on the Trump Organization's future.
POLL: Should Trump be allowed to hold office again?
In an article published by The Guardian on October 2, reporter Lauren Aratani stresses that the case could greatly the company's ability to continue doing business. Engoron has already delivered a pre-trial ruling that doesn't look good for the Trump Organization.
"Last Tuesday," Aratani reports, "Engoron found Trump guilty of fraud, saying that documents submitted as evidence showed persistent use of faulty financial statements. Trump, he said, was working within a 'fantasy world, not a real world.' Engoron said, in his ruling, that the attorney general's office will have to provide evidence of 'some component of intent and materiality' in Trump's fraudulent financial statements — meaning proof that he intentionally inflated his assets for financial gain."
Aratani continues, "The judge delivered a dramatic punishment to Trump, along with his adult sons, Donald Trump Jr. and Eric Trump, who will see their business certificates canceled. This will make it nearly impossible for them to continue doing business in New York. What could make things even worse is a hefty fine."
The reporter notes that James' office "will have to prove that there should be a disgorgement of profits from the Trump family, meaning they should have to give up the profits they made off their fudged financial statements."
READ MORE: Economist Paul Krugman tears apart Trump's defenses in civil fraud case
"The trial is scheduled to go until 22 December, though it will likely not last that long, as the judge's pre-trial ruling settled a major question: whether Trump indeed committed fraud," Arantini explains. "Now, the case is focused on how much he will have to pay for it."
READ MORE: 'His biggest fear': Why Michael Cohen expects NY trial to be 'death blow for Donald'
The Guardian's full report is available at this link.
