Verdict in Donald Trump’s civil fraud trial expected Friday, capping busy week of court action
NEW YORK — A verdict is expected Friday in Donald Trump’s civil fraud trial in New York, adding to a week high on the former president’s legal calendar.
Trump could be hit with millions of dollars in fines and other sanctions in the decision by Judge Arthur Engoron, who has already ruled that the former president inflated his wealth based on financial statements provided to banks, insurers and others to broker deals close and secure loans.
New York Attorney General Letitia James is seeking $370 million and a ban on Trump and other defendants doing business in the state. Such a punishment could potentially damage the real estate empire that helped Trump build his image as a savvy billionaire businessman and propel him to fame and the White House.
Engoron will rule after two and a half months of testimony from forty witnesses, including Trump. Closing arguments were held on January 11. The judge will decide the case because juries are not allowed in these types of lawsuits and neither James’ office nor Trump’s lawyers asked for a jury.
Engoron is expected to announce its decision Friday, barring unforeseen circumstances that would require a delay, court officials said.
It’s already been a big week in court for Trump. On Thursday, another New York judge ruled that Trump will stand trial on 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 of alleged infidelity. Trump says he is innocent.
If the schedule holds, this 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 election interference case in Georgia because she had a personal relationship with a special prosecutor she hired.
James’ office estimates that Trump has exaggerated his wealth by as much as $3.6 billion. State attorneys allege Trump used the inflated figures to get lower insurance premiums and favorable loan terms, saving at least $168 million in interest alone.
Trump has denied wrongdoing and his lawyers have said they will appeal if Engoron rules against him.
The Republican presidential candidate testified on Nov. 6 that his financial statements actually understated his net worth and that the banks did their own investigation and were happy with his business. During closing arguments in January, he labeled the case a “fraud against me.”
Engoron will decide six claims in James’ lawsuit, including charges of conspiracy, falsifying corporate records and insurance fraud. State attorneys alleged that Trump exaggerated his wealth by as much as $3.6 billion in one year.
Before the trial, Engoron ruled on James’ key claim, ruling 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 suspended that.
Because it is civil and not criminal in nature, there is no possibility of jail time.