Current:Home > MyVerdict in Donald Trump’s civil fraud trial expected Friday, capping busy week of court action -Wealth Evolution Experts
Verdict in Donald Trump’s civil fraud trial expected Friday, capping busy week of court action
View
Date:2025-04-17 22:56:10
NEW YORK (AP) — A verdict is expected Friday in Donald Trump’s New York civil fraud trial, adding to a consequential week on the former president’s legal calendar.
Trump could be hit with millions of dollars in penalties and other sanctions in the decision by Judge Arthur Engoron, who has already ruled that the former president inflated his wealth on financial statements that were given to banks, insurers and others to make deals and secure loans.
New York Attorney General Letitia James is seeking $370 million and a ban on Trump and other defendants from doing business in the state. A penalty like that could potentially wound the real estate empire that helped Trump craft his image as a savvy billionaire businessman and vaulted him to fame and the White House.
Engoron is set to rule after 2½ months of testimony from 40 witnesses, including Trump. Closing arguments were held Jan. 11. The judge is deciding the case because juries are not allowed in this type of lawsuit and neither James’ office nor Trump’s lawyers asked for one.
Engoron is expected to release his decision Friday, barring unforeseen circumstances that would necessitate a delay, court officials said.
It has already been a big week in court for Trump. On Thursday, a different New York judge ruled that Trump will stand trial March 25 on charges that he falsified his company’s records as part of an effort to buy the silence of people with potentially embarrassing stories about alleged infidelity. Trump says he is innocent.
If the schedule holds, it will be the first of his four criminal cases to go to trial.
Also Thursday, a judge in Atlanta heard arguments on whether to remove Fulton County District Attorney Fani Willis from Trump’s Georgia election interference case because she had a personal relationship with a special prosecutor she hired.
James’ office has estimated that Trump exaggerated his wealth by as much as $3.6 billion. State lawyers contend Trump used the inflated numbers to get lower insurance premiums and favorable loan terms, saving at least $168 million on interest alone.
Trump has denied wrongdoing and his lawyers have said they’ll appeal if Engoron rules against him.
The Republican presidential front-runner testified Nov. 6 that his financial statements actually understated his net worth and that banks did their own research and were happy with his business. During closing arguments in January, he decried the case as a “fraud on me.”
Engoron is deciding six claims in James’ lawsuit, including allegations of conspiracy, falsifying business records and insurance fraud. State lawyers alleged that Trump exaggerated his wealth by as much as $3.6 billion one year.
Before the trial, Engoron ruled on James’ top claim, finding that Trump’s financial statements were fraudulent. As punishment, the judge ordered some of his companies removed from his control and dissolved. An appeals court has put that on hold.
Because it is civil, not criminal in nature, there is no possibility of prison time.
veryGood! (5883)
Related
- At site of suspected mass killings, Syrians recall horrors, hope for answers
- Housing dilemma in resort towns
- Mexican Drought Spurs a South Texas Water Crisis
- Mauricio Umansky Shares Family Photos With Kyle Richards After Addressing Breakup Speculation
- The city of Chicago is ordered to pay nearly $80M for a police chase that killed a 10
- Sarah Ferguson, Duchess of York, Shares Update After Undergoing Surgery for Breast Cancer
- Germany's economy contracts, signaling a recession
- 3 ways to protect your money if the U.S. defaults on its debt
- A South Texas lawmaker’s 15
- A Tennessee company is refusing a U.S. request to recall 67 million air bag inflators
Ranking
- Rams vs. 49ers highlights: LA wins rainy defensive struggle in key divisional game
- Disney cancels plans for $1 billion Florida campus
- Baltimore’s ‘Catastrophic Failures’ at Wastewater Treatment Have Triggered a State Takeover, a Federal Lawsuit and Citizen Outrage
- What you need to know about the debt ceiling as the deadline looms
- Federal Spending Freeze Could Have Widespread Impact on Environment, Emergency Management
- An Energy Transition Needs Lots of Power Lines. This 1970s Minnesota Farmers’ Uprising Tried to Block One. What Can it Teach Us?
- Does Michael Jordan Approve of His Son Marcus Dating Larsa Pippen? He Says...
- Kathy Hilton Shares Cryptic Message Amid Sister Kyle Richards and Mauricio Umansky Divorce Rumors
Recommendation
Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
The case for financial literacy education
Rosie O'Donnell Shares Update on Madonna After Hospitalization
Does Michael Jordan Approve of His Son Marcus Dating Larsa Pippen? He Says...
SFO's new sensory room helps neurodivergent travelers fight flying jitters
Kate Spade 24-Hour Flash Deal: Get This $400 Satchel Bag for Just $89
Keke Palmer's Boyfriend Darius Jackson Defends Himself for Calling Out Her Booty Cheeks Outfit
Ron DeSantis debuts presidential bid in a glitch-ridden Twitter 'disaster'
Like
- Will the 'Yellowstone' finale be the last episode? What we know about Season 6, spinoffs
- At COP27, the US Said It Will Lead Efforts to Halt Deforestation. But at Home, the Biden Administration Is Considering Massive Old Growth Logging Projects
- These Clergy Are Bridging the Gap Between Religion and Climate