The legal battle between former President Donald Trump and the New York Attorney General’s Office continues to intensify as Trump’s lawyers plan to seek a stay of his ongoing $250 million business fraud trial. This move comes in response to Judge Arthur Engoron’s order to dissolve Trump’s corporate entities. With both sides readying for a long and contentious legal process, the outcome of this trial could have significant consequences for Trump’s business empire.
Trump’s attorney, Christopher Kise, informed Judge Engoron that they intend to seek a stay of the trial, as well as a stay of the judge’s order related to dissolving Trump’s corporate entities. However, Kise was reluctant to disclose the full extent of their appeal, much to the frustration of the Attorney General’s lawyer, Andrew Amer. Amer argued that his office is entitled to 24-hour advance notice of any appeal.
The Attorney General’s lawsuit alleges that Trump, along with his adult sons, the Trump Organization, and company executives, misrepresented the values of real estate properties. This alleged misrepresentation was done in order to secure more favorable loan terms and tax benefits, while also inflating Trump’s net worth on financial statements. The ongoing trial is focusing on six remaining claims in the lawsuit.
Last month, Judge Engoron issued a summary judgment in favor of the Attorney General’s Office, finding that Trump and his associates engaged in business fraud. As part of this decision, Engoron canceled the business certificates held by the defendants and ordered the appointment of an independent receiver to oversee the dissolution of the affected business entities. These measures are now being challenged by Trump’s legal team.
On Thursday, Judge Engoron issued a series of orders to the defendants, seemingly signaling a pathway for the sell-off of the Trump businesses. Among these orders was a requirement for the defendants to inform an independent monitor for the Trump Organization about any new entity created to acquire or hold the assets of the businesses to be dissolved. These orders indicate that the legal battle is moving towards potentially significant consequences for Trump’s business empire.
Donald Trump was present for the initial two and a half days of the trial but left midway on Wednesday, expressing frustration about being “stuck” in court instead of focusing on his Republican presidential primary campaign. While he was not required to be present in court during those days, there is a possibility that he may be called upon to testify at a later stage of the trial, which is slated to continue until late December.
The legal saga surrounding Donald Trump’s business practices shows no signs of abating as his lawyers prepare to challenge Judge Engoron’s order and seek a pause in the ongoing fraud trial. The stakes are high, with potential implications for Trump’s financial standing and the future of his business empire. As the trial continues, all eyes will be on the court proceedings and the legal strategies employed by both sides. The outcome of this trial could have far-reaching consequences for Trump and the perception of his business practices.
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