Verdict in Donald Trump's $370m Fraud Trial Delayed as Judge Reviews Financial Deficiencies

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ICARO Media Group
Politics
01/02/2024 22h52

Initially, Judge Arthur Engoron had set a deadline of 31 January to deliver his verdict on the potential hefty fine.

Engoron had previously found Trump guilty of fraud in a pre-trial ruling for inflating the value of his assets on financial documents back in September. The trial focused on whether Trump and his company intended to commit fraud, which could result in a significant penalty. The New York attorney general's office, which filed the lawsuit against Trump, is seeking $370m in disgorgement and a ban on Trump conducting business in New York.

While the court spokesperson did not provide specific reasons for the delay, reports suggest that a letter from former federal judge Barbara Jones, who has been overseeing the Trump Organization's financial reports since November 2022, may be a contributing factor. Jones's letter, sent on 26 January, identified deficiencies in the financial information she reviewed, including incomplete disclosures, inconsistencies, and errors.

Of particular concern in Jones's letter was a $48m loan that Trump reported as a liability on his financial statement for multiple years. However, conversations with the Trump Organization revealed that this loan never actually existed, highlighting potential misstatements and errors in Trump's financial disclosures.

Jones emphasized that she was unable to determine if fraudulent activity had occurred but warned that without addressing these deficiencies, further misstatements and errors could persist. The letter's contents could have a significant impact on Engoron's verdict, potentially influencing the amount of the fine imposed on Trump.

The court spokesperson noted that the revised timeline provided is a rough estimate, and the final decision will be presented through a written filing. As the trial unfolds, the public awaits the outcome with anticipation, as the verdict in this high-profile case could have far-reaching implications for Donald Trump's financial and legal future.

The views expressed in this article do not reflect the opinion of ICARO, or any of its affiliates.

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