NY seeks $370 million in penalties in Trump's civil fraud trial
Newsy
Judge Arthur Engoron has said he hopes to decide the verdict by the end of this month. New York Attorney General Letitia James filed the lawsuit.
New York state lawyers increased their request for penalties to over $370 million Friday in Donald Trump's civil business fraud trial. He retorted, "They should pay me."
The exchange came as lawyers for both sides filed papers highlighting their takeaways from the trial in court filings ahead of closing arguments, set for next Thursday. Trump is expected to attend, though plans could change.
It will be the final chance for state and defense lawyers to make their cases. The civil lawsuit, which accuses the leading Republican presidential hopeful of deceiving banks and insurers by vastly inflating his net worth, is consequential for him even while he fights four criminal cases in various courts.
The New York civil case could end up barring him from doing business in the state where he built his real estate empire. On top of that, state Attorney General Letitia James is seeking the $370 million penalty, plus interest — up from a pretrial figure of $250 million, nudged to over $300 million during the proceeding.
The state says the new sum reflects windfalls from wrongdoing, chiefly $199 million in profits from property sales and $169 million in savings on interest rates, as calculated by an investment banking expert hired by James' office.
