![]() ![]() In his ruling, it is clear that Engoron sees things differently. “President Trump is a master at finding value where others see nothing,” Kise told Engoron. In pre-trial hearings before the ruling, Trump lawyer Christopher Kise told the judge that the former president is “an investment genius” and “probably one of the most successful real estate developers in the country”. Trump is a real estate ‘genius’ only in a ‘fantasy world’ We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply.Īfter newsletter promotion 4. ![]() For more information see our Privacy Policy. Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. Engoron could also permanently bar Trump and his sons from serving as officers, which includes C-suite executive roles, of New York-based companies and place a five-year ban on any real estate acquisitions. James also asked Engoron to rule on monetary damages of up to $250m, which is how much the attorney general’s office believes the Trump Organization gained by issuing false and misleading financial statements. Engoron gave the Trumps 10 days to name three people who can oversee the dissolution of existing incorporated companies and LLCs in the Trumps’ name, including the Trump Organization. This means that his companies can no longer hold certificates that make them incorporated or set up as limited liability companies (LLCs) in the state. ![]() ![]() The impact of this is still unclear, though it does not bode well for the Trump Organization, which has multiple major real estate holdings in New York City. Certificates of companies owned by the named defendants, including Trump and his two sons, Donald Trump Jr and Eric Trump, will also be cancelled. Doing business in New York will be difficult for Trump, and his company could still face a $250m fineĮngoron ruled that the New York business certificates of the Trump Organization and other Trump subsidiaries listed in the suit will be cancelled. It is a bench trial, meaning there will be no jury and the case will be decided solely by the judge. It is unclear how much shorter the trial will be after the ruling. But his judgement on Tuesday will dramatically shorten the trial since he already ruled in agreement with James’s main case against Trump: that he and his allies wrote up “false and misleading” financial statements and that they used these doctored financial statements to conduct business transactions. A bench trial will still take place, but it will be shorterĮngoron initially scheduled the trial to go from 2 October to 22 December. Trump has denied wrongdoing and has called the case a “witch-hunt”. The former president tried to sue James after she filed her lawsuit in September 2022, but Trump ended up dropping his lawsuit earlier this year. When he eventually sat for a deposition, Trump told James that “the whole case is crazy” and that he created “the hottest brand in the world”. Trump was ultimately fined $110,000 for not complying with subpoenas for documents. Over three years, her office interviewed 65 witnesses and reviewed “millions of pages of documents”. Though the trial is technically not over, the ruling is a huge win for the New York attorney general, who started her investigation into the Trump Organization in 2019. Here are five takeaways from Tuesday’s ruling: 1. Trump’s lawyers say they will appeal the judge’s ruling. He also ordered the cancellation of New York business certificates of all companies related to Trump and his two sons, Donald Trump Jr and Eric Trump, making it difficult for Trump to continue running his real estate business in the state.Ī trial is still set to start 2 October, in which Engoron will decide whether Trump, his allies and his companies will have to pay the $250m in monetary damages James is asking for. In a dramatic step just days before the trial is set to start, New York supreme court justice Arthur Engoron issued a partial ruling largely agreeing with James. ![]()
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