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By Cristina Laila
\nGATEWAY PUNDIT<\/p>\n
Judge Arthur Engoron on Friday released his verdict in Letitia James\u2019 New York City fraud trial against President Trump.<\/p>\n
The judge made his decision in a\u00a092-page filing<\/a>.<\/p>\n Judge Engoron ordered Trump to pay more than a $355 million fine and barred Trump \u201cfrom serving as an officer or director of any New York corporation or other legal entity in New York for a period of three years.\u201d<\/p>\n Engoron claimed Trump and each of the defendants \u201cparticipated in aiding and abetting the conspiracy to commit insurance fraud by their individual acts in falsifying business records and valuations, causing materially fraudulent SFCs to be intentionally submitted to insurance companies.\u201d<\/p>\n \u201cDISGORGEMENT OF ILL-GOTTEN GAINS\u201d<\/strong><\/p>\n \u201c[W]here, as here, there is a claim based on fraudulent activity, disgorgement may be available as an equitable remedy, notwithstanding the absence of loss to individuals or independent claims for restitution. Disgorgement is distinct from the remedy of restitution because it focuses on the gain to the wrongdoer as opposed to the loss to the victim. Thus, disgorgement aims to deter wrongdoing by preventing the wrongdoer from retaining ill-gotten gains from fraudulent conduct. Accordingly, the remedy of disgorgement does not require a showing or allegation of direct losses to consumers or the public; the source of the ill-gotten gains is \u201cimmaterial,\u201d Engoron wrote.<\/p>\n \u201cAs detailed in the Findings of Fact, there is overwhelming evidence that each of these defendants made or participated in making a false statement in the business records of an enterprise, the Trump Organization, with the intent to defraud,\u201d Engoron wrote in the filing reviewed by\u00a0The Gateway Pundit<\/em>.<\/p>\n Donald Trump Jr. and Eric Trump were also ordered to pay millions of dollars in fines.<\/p>\n Eric Trump and Don Jr. were ordered to pay $4,013,024 each.<\/p>\n \u201cThere is also sufficient evidence that Donald Trump, Jr. and Eric Trump intentionally falsified business records. They served as attorneys-in-fact for Donald Trump and were under a heightened duty of prudence,\u201d Engoron wrote.<\/p>\n Trump Org. CFO Allen Weisselberg was ordered to pay $1 million.<\/p>\n Engoron did\u00a0not<\/em>\u00a0dissolve Trump\u2019s businesses.<\/strong><\/p>\n \u201cIn its September 26, 2023, Decision and Order granting partial summary judgment to OAG, this Court ordered the cancellation of defendants\u2019 business licenses. The Appellate Division, First Department has stayed this relief pending the final disposition on appeal. However, as going forward there will be two-tiered oversight, an Independent Monitor and an Independent Director of Compliance, of the major activities that could lead to fraud, cancellation of the business licenses is no longer necessary,\u201d Engoron wrote according to the filing reviewed by this reporter.<\/p>\n \u201cAccordingly, this Court hereby modifies its September 26, 2023, Decision and Order solely to the extent of removing the language ordering the LLCs cancellation en masse. The restructuring and potential dissolution of any LLCs shall be subject to individual review by the Court appointed Independent Director of Compliance in consultation with Judge Jones,\u201d Engoron added.<\/p>\n The non-jury Soviet-style show trial played out in court for 11 weeks. Judge Engoron delayed the verdict to mid-February after he\u00a0demanded<\/a>\u00a0information about possible perjury by Trump Org. CFO Allen Weisselberg at the eleventh hour.<\/p>\n The fix was in.<\/p>\n Engoron had already ruled that Trump engaged in fraud and ordered the dissolution of Trump\u2019s New York businesses. The New York appellate court stayed Engoron\u2019s order.<\/p>\n Recall that radical Marxist New York Attorney General Letitia James\u00a0sought<\/a>\u00a0$370 million in \u2018damages\u2019 when there is no victim in this fraud case and she is also seeking to ban Trump and his sons from operating any businesses in New York. She accused Trump of inflating his assets and defrauding lenders and insurance companies.<\/p>\n James originally sought $250 million in damages from Trump.<\/p>\n In addition to increasing the amount of \u2018damages\u2019 she wanted Trump to pay, Letitia James sought a lifetime ban for him from the real estate industry.<\/p>\n In November a Deutsche Bank executive who worked to approve at least one of Trump\u2019s loans testified that it is \u201catypical, but not entirely unusual\u201d to reduce a client\u2019s asset values and still approve a loan.<\/p>\n Trump is expected to speedily appeal Engoron\u2019s decision.<\/p>\n \u201cGiven the grave stakes, we trust that the Appellate Division will overturn this egregious verdict and end this relentless persecution against my clients,\u201d Trump\u2019s attorney Alina Habba said in a\u00a0statement<\/a>.<\/p>\n![\"\"](\"https:\/\/www.thegatewaypundit.com\/wp-content\/uploads\/2024\/02\/0-80-600x382.jpg\")
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