NEW YORK (Reuters) – New York attorney general rules in $370 million civil fraud case against former U.S. president Donald Trump A court spokesman said Thursday that won’t come until early to mid-February.
justice Arthur EngollenTrump, who oversaw the three-month trial in the case last year, had said he planned to rule by the end of January but offered no guarantees.His final ruling could deal a major blow to Trump’s business empire as the businessman-turned-politician seeks the Republican nomination to challenge Democrats President Joe Biden in the U.S. election on November 5.
Lawsuit filed by New York Attorney General Letitia James Trump and his family business have been accused of inflating his net worth by as much as $3.6 billion annually for a decade to secure better loan terms. Trump has denied wrongdoing and called the case a political vendetta against elected Democrat James.
In addition to the fine, James is seeking to permanently ban Trump from the New York real estate industry and significantly limit his ability to do business in the state.
Ngolon previously ruled in September that Trump committed fraud and ordered a partial dissolution of his business empire. The full implications of the order remain unclear, and Trump is appealing.
Closing arguments were held in the case on January 11, and Ngolon said that day that he hoped to make a ruling by January 31.
On the day of closing arguments, Trump lashed out at the judge in court, telling him, “You have your own agenda. I don’t think you can listen for more than a minute.”
“Please control your client,” the judge told Trump’s attorney, Christopher Keyes.
(Reporting by Jack Quinn; Editing by Will Dunham)