October 2, 2023 🟠 Major

New York civil fraud trial begins with judge already ruling Trump committed fraud

The New York civil fraud trial began with Judge Arthur Engoron having already ruled in summary judgment that Trump committed fraud by inflating asset values on financial statements for years. The trial would determine penalties, with Attorney General Letitia James seeking $250 million and to bar Trump from doing business in New York. Evidence showed Trump claimed his Manhattan penthouse was three times its actual size and valued Mar-a-Lago at up to $739 million when its assessed value was $18 million.

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The trial revealed the systematic nature of Trump's financial fraud. Judge Engoron's pre-trial ruling found liability established, making the trial about consequences rather than guilt. In February 2024, Trump would be ordered to pay over $450 million.