News Staff - Jan 10 - Business Mar-a-lago Ex-president Trump Eric & Don Jr. Trump New York State Attorney General Letitia James Judge Arthur Engoron Alina Habba - 830 views - 0 Comments - 0 Likes - 0 Reviews
DLNews Biz:
In the highly anticipated conclusion of the New York financial trial, the stakes are extraordinarily high for former President Donald Trump, aged 77, who may lose even his Florida resort, Mar-a-Lago.
Mar-a-Lago Trump Estate
Accusations have been hurled at Trump by prosecutors, alleging that the Trump Organization inflated the values of its properties. The countdown to the verdict is ticking away.
The case, driven by the New York financial trial, raises the question: could it lead to Trump's economic downfall, potentially resulting in the loss of Mar-a-Lago?
Mary Trump, 58, Trump's niece and a vocal critic of the former President, has publicly speculated about such prospects. Trump, along with his sons Eric, 40, and Don Jr., 46, and top executives, have been sued by New York State Attorney General Letitia James, 65, for alleged business fraud in their operations of the Trump Organization.
The accusations center on the company's alleged deliberate overstatement of property values to gain advantages with banks and insurance companies.
As the case heads towards its dramatic conclusion, with final arguments scheduled for Thursday, the focus is on the potential consequences for Trump. The notoriously independent Judge Arthur Engoron had practically pronounced Trump & Co. guilty even before the trial began, determining that business fraud had occurred. The impending final verdict, expected by the end of the month, will primarily decide the sentence.
The Beauty and the Beast, Trump's attorney Alina Habba.
For Trump, a Republican, the outcome could be exceedingly harsh. The prosecutor has ramped up her stance, demanding a staggering $370 million penalty, a significant increase from the initially proposed $250 million. Additionally, she seeks to impose a permanent business ban on Trump in New York and a five-year ban on his sons.
Trump's niece speculates that such a verdict could push her uncle to the "brink of ruin," raising the possibility of a "forced sale of Mar-a-Lago." Pulitzer Prize-winning author David Cay Johnston, 74, believes the judge's influence could extend to this lavish property. Mar-a-Lago, located in Palm Beach, Florida, is Trump's most famous residence alongside the New York Trump Tower and has been his official home since 2021. Real estate expert Liza Pulitzer recently estimated its value at $300 million.
Trump and his sons have vehemently denied all charges, arguing that asset valuations in their industry are merely estimations. The former President has frequently been present in Courtroom 300 of the New York Supreme Court. This trial affects him deeply, as he has openly criticized the "corrupt" prosecutor and the "lawless" judge during court recesses.
Now, the final judgment is imminent, concluding this high-stakes legal drama.
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