Trump's $250M Fraud Trial In New York Set For Oct 2

Former U.S. President Donald Trump, along with his company, is facing a $250 million fraud trial in New York. The civil case is set to go to trial on Oct 2, The Washington Post reported. 

New York Attorney General Letitia James is urging Supreme Court Justice Arthur Engoron to determine partial liability based on what she considers compelling evidence that Trump and his company falsified asset values to secure lending benefits.

The lawsuit filed by James a year ago seeks $250 million in financial penalties and strict constraints on the company and its executives conducting any business in New York. Trump and his legal team have refuted any misconduct.

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Justice Engoron could decide at the hearing or later that parts of the case do not need to be decided at trial based on the previously filed documents from each side.

The charges against the Trump Organization and its executives include the release of false annual financial statements that significantly inflated the value of 23 properties in the U.S. and Scotland, as well as other assets including Trump's private Mar-a-Lago club in Florida.

The case against the Manhattan-based real estate, hospitality, and golf resort company owned by Trump is one of several legal proceedings pending for the Republican presidential candidate.

The judge in James’ lawsuit could order the company to pay back ill-gotten gains and impose limitations such as permanently barring the named defendants from serving as officers or directors at any New York company and blocking the company from acquiring any real estate in New York for five years.

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