When Donald Trump’s civil fraud trial began in October, he faced up to $250 million in fines. Now, with the trial nearing its conclusion, New York’s attorney general wants an additional $120 million.
Attorney General Tish James’ office requested the judge presiding over the case on Friday to fine Trump and his corporate empire $370 million plus interest, claiming that evidence shown during the two-and-a-half-month trial warrants boosting the penalty that James initially sought.
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During the trial, James’ office attempted to prove that Trump exaggerated the value of his assets — and thus inflated his net worth — in order to obtain favorable terms from banks and insurers, and in a court filing on Friday, she stated that the money saved by those terms dictated the majority of the penalty requested by her office.
The updated request, according to James’ office, included $168 million in interest savings on four commercial real estate loans, more than $139 million in profit from the sale of the Old Post Office building in Washington, $60 million in profit from the sale of the Ferry Point golf course in New York, and $2.5 million in bonuses paid to two former Trump Organization executives who are defendants in the case.
Trump and his lawyers have claimed that his net worth was not exaggerated based on the financial documents and that banks and insurers did not depend on the information in those documents.
Trump delivered now-familiar accusations of James during a rally in Iowa on Friday evening, complaining about the sanctions and telling the crowd he “did absolutely nothing wrong.”
“Now she wants $370 million and she wants it now; it’s a disgrace,” Trump said to the audience.
Witness testimony concluded in mid-December, with final arguments set for next Thursday. Following that, the judge, Justice Arthur Engoron, is likely to issue a ruling determining what financial penalties he will impose on Trump or the other defendants. Engoron ruled before the trial began that Trump and his corporation were guilty of fraud, thus much of the hearing centered on what penalties are due.