Former US President Donald Trump has been given a limited Gag Order by the appeals court while appearing in court for two separate cases in New York. The move comes as the lower Manhattan NY Attorney General Letitia James presented her closing arguments in the civil fraud trial, raising the damage claims from $250 million to $370 million.
Trump had appealed against the gag order issued by Manhattan Judge Arthur Engoron, but the appeals court upheld the order, according to media reports.
During her closing arguments, New York Attorney General Letitia James emphasized that the case was not about politics or personal vendettas, but about the facts and the law. James accused Trump of inflating asset values to secure loans illegally and obtain lower insurance premiums, thereby increasing the penalty charges against him.
Trump has continuously claimed that the trial is politically motivated and that President Joe Biden has initiated a political witch hunt against him using James, who is a Democrat. However, records show that Biden was not even the president when James filed the case.
This case has never been about politics, personal vendetta, or name-calling. This case is about the facts and the law, and Donald Trump violated the law, James affirmed.
Expressing her gratitude towards her team, the judge, and Trump’s lawyers, James reiterated her confidence that justice would be served in the case.
No matter how powerful you are, no matter how rich you are, no one is above the law, she declared.
The ongoing trial in New York involves a $370 million civil lawsuit that could potentially impact Trump’s personal fortune and real estate empire, which played a significant role in his climb to the White House.
New York Attorney General Letitia James has accused Trump, his sons Eric Trump and Donald Trump Jr., as well as other top Trump Organization executives, of engaging in a decade-long scheme involving numerous acts of fraud and misrepresentation to inflate Trump’s net worth for obtaining more favorable loans.
Previously, Judge Engoron ruled that Trump had provided fraudulent valuations for his assets, and now the trial aims to determine further actions and potential penalties for the defendants.
While Trump denies all allegations and his lawyers argue that the alleged inflated valuations were a result of his business expertise, Judge Engoron has already deemed Trump guilty of inflating his business assets to illegally secure loans from Deutsche Bank, thus leading to the cancellation of his business certificates in New York. However, the judge has put the revocation on hold until Trump’s plea is heard in an appeals court.
During the closing arguments, Judge Arthur Engoron drew a comparison between Trump’s alleged fraud and the actions of financier Bernie Madoff, who infamously defrauded clients of billions of dollars. Engoron asked the state attorney to provide insights on the similarities between the two cases.
Judge Engoron’s final ruling is expected on January 31.
In conclusion, the trial against Donald Trump continues as New York Attorney General Letitia James presents her closing arguments, seeking a penalty of $370 million. The trial will determine the consequences of Trump’s alleged fraudulent actions and their impact on his personal and business reputation.
