(WILX) - Thursday, Michigan Attorney General Dana Nessel announced the Department of Attorney General will conduct the state prosecution of Rashad Maleek Trice. Yet today, the persecution of our family continues," he said.LANSING, Mich. "We have run an exceptional company - never missing a loan payment, making banks hundreds of millions of dollars, developing some of the most iconic assets in the world. In a tweet, Eric Trump said after the ruling that he had "lost all faith in the New York legal system." She said the judge's findings, including the one "that Mar-a-Lago is worth approximately $20 million," is "an affront to our legal system." "While the full impact of the decision remains unclear, what is clear is that President Trump and his family will seek all available appellate remedies to rectify this miscarriage of justice,” Kise said.Īnother Trump attorney, Alina Habba, focused on Engoron's determination that Trump's Florida club, Mar-a-Lago, had been grossly overvalued.Įngoron noted that from 2011 to 2021, the Palm Beach County assessor appraised the market value of Mar-a-Lago at $18 million to $27.6 million. Trump's financial statements, meanwhile, put the club's value at almost $427 million to $612 million. While the New York-based LLCs will need to be dissolved, it will be up to the receiver to determine what that looks like.įormer judge Barbara Jones will continue in her role as a court appointed monitor of financial activity at Trump Organization Inc., which is separate from the similarly named LLC. Each side was given 10 days to recommend three potential receivers to manage the dissolution of the LLCs identified in the court filing. The ruling would dissolve numerous limited liability companies, or LLCs, associated with Trump, including the Trump Organization LLC, an entity that’s been been used to expand the Trump brand through use of his name. Engoron sanctioned Trump's attorneys $7,500 apiece for making legal arguments that had already been rejected twice. He also denied Trump's motion for summary judgment that argued New York Attorney General Letitia James' lawsuit should be dismissed. and Eric and their companies liable for fraud. “A discrepancy of this order of magnitude, by a real estate developer sizing up his own living space of decades, can only be considered fraud,” Engoron wrote. "The defenses Donald Trump attempts to articulate in his sworn deposition are wholly without basis in law or fact," Engoron added.Īt one point, Engoron pointed to Trump's having exaggerated the size of his New York apartment to pump up its value, repeatedly claiming it was over 30,000 feet when it was a third of that size. Defendants’ respond that: the documents do not say what they say that there is no such thing as 'objective' value and that, essentially, the Court should not believe its own eyes." He went on to say that the case was essentially a "documents case" and that "the documents here clearly contain fraudulent valuations that defendants used in business, satisfying burden to establish liability as a matter of law against defendants. Trump's legal arguments defending the statements are based in "a fantasy world, not the real world," Engoron wrote. In his 35-page ruling, Judge Arthur Engoron said Trump continually lied on his financial statements and was able to get favorable loan terms and lower insurance premiums as a result.
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