Former President Trump Condemns Judge's Ruling
Former President Donald Trump is criticizing Judge Arthur Engoron as a "clubhouse politician" after the judge barred him from operating his business in New York for three years and issued a fine of over $350 million. Trump defended his "great company" and accused the judge and New York Attorney General Letitia James of trying to stop him. The ruling comes after a civil fraud trial that began in October and was based on allegations that Trump inflated his assets and committed fraud.
Trump Responds to Ruling
In an exclusive interview with Fox News Digital, Trump lashed out at the judge, claiming that he had to pay the fine based on "absolutely nothing." He argued that there were no victims or damages and that his financial statements were accurate and successful. Trump also criticized the judge for valuing Mar-a-Lago at $18 million when he believes it is worth much more.
Controversial Ruling
In September, Judge Engoron ruled that Trump and his organization had committed fraud by overvaluing assets and exaggerating net worth. Trump argued that the judge had been overturned four times in this case and accused him of political bias.
Judge Criticizes Trump's Testimony
In his 92-page ruling, Judge Engoron criticized Trump and his testimony during the trial. He stated that Trump rarely answered questions directly and often went on tangents unrelated to the case. Engoron argued that this behavior severely compromised Trump's credibility.
Trump Plans to Appeal
Trump claimed that he has already won most of the appeal at the New York State Appellate Division and vowed to appeal the rest of the decision. He accused the judge of refusing to recognize his victories in the past.
Securities Fraud Allegations
Judge Engoron ruled that Trump and his defendants were liable for fraud, falsifying business records, issuing false financial statements, conspiracy to commit fraud, insurance fraud, and conspiracy to commit insurance fraud. He also barred Trump's sons, Donald Trump Jr. and Eric Trump, from serving as officers or directors of any New York corporation for two years.
New York Attorney General's Lawsuit
The lawsuit against Trump and his organization was brought by New York Attorney General Letitia James, who accused them of fraudulent business practices. The court proceedings were contentious, and Trump was placed under a partial gag order by the judge.
Trump Denies Wrongdoing
Trump and his family have denied any wrongdoing and argued that his assets were undervalued. His legal team maintained that his financial statements had disclaimers and made it clear that banks should conduct their own assessments.
Expert Witnesses and Lack of Jury
Throughout the trial, Trump's defense brought in expert witnesses, including an accounting professor who testified that there was no evidence of accounting fraud. Trump's legal team also criticized the lack of a jury in the trial.
Ruling Fallout
Judge Engoron's ruling has prompted strong reactions from Trump and his supporters. They believe that the judge's decision is politically motivated, as evidenced by the judge's alleged bias and previous comments made by the Attorney General.
Future Legal Battles
Despite the ruling, Trump remains determined to fight back. He plans to appeal the rest of the decision and continue his legal battle against the judge and Attorney General James.
Conclusion
Former President Donald Trump is fiercely criticizing Judge Arthur Engoron and the New York Attorney General after being barred from his business for three years and fined over $350 million. Trump claims that the ruling is politically motivated and an attempt to stop him. He vows to appeal the decision and continue fighting for his business and reputation.
Analyst comment
Neutral News: Former President Trump has been barred from operating his business in New York for three years and fined over $350 million by Judge Arthur Engoron. Trump defends his company, accuses Democrats of trying to stop him, and plans to appeal the decision. The ruling stems from a civil fraud trial initiated by the New York Attorney General. Engoron criticized Trump’s credibility and accused him of fraud and falsifying financial statements.
As an analyst, this ruling will have limited impact on the market. It primarily affects Trump’s business operations in New York and does not have broader implications for the overall market. Trump’s appeal process may prolong the legal proceedings, but the final outcome remains uncertain.
