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- Donald Trump’s middle child has railed against a judge’s decision that could see their family’s business empire dismantled
Donald Trump’s middle child has railed against a judge’s decision that could require the former president to dismantle his businesses in New York.
‘I’ve never seen such hatred to one person by a judge,’ Eric Trump said in a message on his father’s social media platform Truth Social. Eric, 39, called the decision by Justice Arthur Engoron of the Manhattan Supreme Court ‘egregious.’
In a statement to the Washington Post, Trump spokeswoman Alina Habba said that the decision will be appealed.
Eric also said that the judge undervalued Trump’s Florida Mar-a-Lago estate in his ruling in a separate post on X.
‘In an attempt to destroy my father and kick him out of New York, a Judge just ruled that Mar-a-Lago, in Palm Beach Florida, is only worth approximate $18 Million dollars,’ he raged.
‘Mar-a-Lago is speculated to be worth well over a billion dollars making it arguably the most valuable residential property in the country. It is all so corrupt and coordinated,’ Eric added.
Judge Engoron ruled that Trump committed fraud for years while building the real estate empire that catapulted him to fame and the White House, after prosecutors charged he inflated property valuations with lenders and diminished them with tax authorities.
In reaction, Trump took to Truth Social to say it was ‘a very sad day for the New York State System of Justice.’
‘This is the Judicial conduct that is forcing thousands of companies to flee New York for other environs, while virtually nobody comes back to the City or State.’
The civil trial begins October and could run through the end of the year, as Trump continues to lead the GOP field for the Republican presidential nomination.
The ruling Tuesday came in a civil lawsuit brought by James, even as Trump faces multiple criminal indictments in multiple jurisdictions related to his election overturn effort and other matters.
Letitia James, Attorney General of New York, sued Trump last year, claiming numerous acts of fraud. Lawyers representing the former president and his company, as well as his adult children, asked the judge to dismiss the suit through summary judgement.
James found that Trump and his company deceived banks, insurers and others by massively overvaluing his assets and exaggerating his net worth on paperwork used in making deals and securing financing.
She said he boosted valuations by up to $2 billion, inflating the value of signature assets including the Mar-a-Lago club where he now resides and his Manhattan penthouse apartment at Trump Tower.
The decision, days before the start of a non-jury trial in Attorney General Letitia James´ lawsuit, is the strongest repudiation yet of Trump´s carefully coiffed image as a wealthy and shrewd real estate mogul turned political powerhouse.
Beyond mere bragging about his riches, Trump, his company and key executives repeatedly lied about them on his annual financial statements, reaping rewards such as favorable loan terms and lower insurance premiums, Engoron found.
Those tactics crossed a line and violated the law, the judge said, rejecting Trump’s contention that a disclaimer on the financial statements absolved him of any wrongdoing.
Manhattan prosecutors had looked into bringing a criminal case over the same conduct but declined to do so, leaving James to sue Trump and seek penalties that could disrupt his and his family´s ability to do business in the state.
Engoron’s ruling, in a phase of the case known as summary judgment, resolves the key claim in James’ lawsuit, but six others remain.
Engoron is slated to hold a non-jury trial starting Oct. 2 before deciding on those claims and any punishments he may impose. James is seeking $250 million in penalties and a ban on Trump doing business in New York, his home state. The trial could last into December, Engoron has said.
Trump’s lawyers had asked the judge to throw out the case, which he denied.
They contend that James wasn’t legally allowed to file the lawsuit because there isn’t any evidence that the public was harmed by Trump’s actions. They also argued that many of the allegations in the lawsuit were barred by the statute of limitations.
Trump has long accused James and other prosecutors coming after him of bias.
The judgment came in a case where Trump once again delivered potentially harmful statements during a deposition.
Trump under questioning compared his golf and real estate empire to the Mona Lisa and other priceless art works.
Trump made the extraordinary claim while describing his decision to hand off control of his business to his adult sons Don Jr. and Eric during his term as president – with New York AG Letitia James sitting across from him in a Manhattan courthouse for a deposition.
‘We have the Mona Lisas of properties,’ Trump told the prosecuting attorney in the April deposition unsealed Wednesday.
Then he bragged about his golf course in Turnberry, Scotland. ‘I could sell that. That’s like selling a painting. A painting on a wall that sells for $250 million,’ he continued.
‘I have great assets,’ Trump gushed – raving about Mar-a-Lago as well as his property at 40 Wall Street, which he said is ‘the best location,’ he told prosecutor Kevin Wallace in James’ office.
Prosecutors claim he has jacked up his net worth by between $812 million and $2.2 billion every year over a decade. James argues Trump inflated his valuations when seeking lending. Trump’s lawyers are asking a judge to toss the suit, calling it a ‘crusade’ over long-ago loans that have been repaid.
‘You don’t have a case and you should drop this case,’ Trump told James.
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