NY AG Seeks $370M Fine and Lifetime Real Estate Ban for Trump

Henrik Rothen

Jan.05 - 2024 9:51 PM CET

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Photo: Shutterstock.com
NY AG Seeks $370M Fine and Lifetime Real Estate Ban for Trump.

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New York Attorney General Letitia James has taken a firm stance against former President Donald Trump, seeking harsh penalties for alleged financial malpractices.

According to CNN, The Attorney General's office is pushing for a $370 million fine against Trump and his companies, coupled with a sweeping lifetime ban from the New York real estate industry, not just for Trump but also for two of his former company executives. This move, if successful, could mark a profound shift in Trump's business operations and legacy.

Seeks five-year bans on Trump's sons

The case, rooted in accusations of fraudulent financial activities, has seen Trump's bank fraud trial attract considerable media attention since its inception in September 2023. The trial, infused with dramatic moments including Trump's confrontational social media posts about Judge Arthur Engoron and his staff, led to a series of consequences including a gag order and fines against Trump. The trial is drawing to a close, with attorneys set to present their final arguments next week.

James' aggressive legal strategy extends beyond Trump to include former Trump Organization Chief Financial Officer Allen Howard Weisselberg and former Trump Organization controller Jeff McConney. Additionally, she seeks five-year bans on Trump's sons, Donald Trump Jr. and Eric Trump.

In her post-trial brief, James describes the deceptive schemes employed by Trump and his associates as so egregious that they "belie innocent explanation." Judge Engoron, in a summary judgment, had already established Trump and his co-defendants' liability for persistent and repeated fraud, which allegedly enabled better loan terms for Trump's properties.

The case's outcome is eagerly awaited, with implications that could redefine Trump's future business endeavors and the broader narrative of corporate accountability in real estate dealings.