A civil lawsuit against former President Donald Trump, his two eldest sons and The Trump Organization could be nearing an end after months of testimony.
What Happened: The civil fraud suit filed by the state of New York sought to prove the defendants had misstated the value of assets and committed financial fraud.
On Friday, New York Attorney General Letitia James asked Judge Arthur Engoron to place a lifetime ban on Donald Trump from the real estate industry in the state of New York, as reported by CNBC. James is also calling for Trump to be banned from being an officer or director of any New York corporation.
The attorney general is also asking the judge to fine Trump $370 million in the case. The fine includes $168 million in interest payments that may have been avoided through the alleged fraud. James initially sought $250 million in penalties against Trump and his businesses.
James is also seeking five-year bans on Donald Trump Jr. and Eric Trump from the New York real estate industry. Trump Jr. and Trump were co-defendants in the trial and both previously testified in the case.
The state of New York argued the Trumps misstated the value of real estate assets that led to better loan terms from banks and financiers. James said the false statements could have inflated Trump's net worth by between $812 million and $2.2 billion.
What's Next: Testimony in the Trump civil fraud case wrapped several weeks ago.
Trump has stood by his comments that he did nothing wrong and the entire case is a political witch hunt.
Engoron is expected to rule on the case in the coming weeks and will decide the penalties and fines, as the case did not have a jury.
The lawsuit is one of several that Trump faces in 2024, which will be a busy year in court for the former president, who is on the 2024 campaign trail.
DWAC Price Action: Shares of Digital World Acquisition Corporation DWAC, which is merging with Trump Media & Technology Group, are flat Friday at $17.34. Shares of the company are often volatile around major Trump events.
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