For financial fraud
“Lied for Huge Benefits”: Trump and three of his children are due to go to court in the fall of 2023
Ex-President Donald Trump has several investigations and investigations into the hack. He must appear in court next year. It’s about a lot of money.
The New York civil trial against ex-US president Donald Trump and his three eldest children for alleged financial fraud will not begin until October next year at the earliest. Manhattan Superior Court Judge Arthur Engoron set Tuesday, October 2, 2023 as the hearing date. Trump’s lawyers will most likely try to delay the start of the trial even further.
New York State Attorney General Letitia James filed a civil lawsuit against Trump and his three oldest children in September over allegations of massive financial fraud. The Trump Organization family holding company is said to have misled the tax authorities, banks and insurance companies for years about the true state of their finances in order to gain financial advantage.
Donald Trump could lose control of Holding
James accused Trump of “lying” to gain “huge benefits”. With the help of his children and other employees, he artificially inflated the value of his assets by billions to get cheap loans and insurance contracts. In other cases, values have been fraudulently manipulated downwards to pay less tax.
James is seeking fines of at least $250 million for Trump and his children Donald Junior, Ivanka and Eric. She also wants to ban Trump and his children from doing business in New York state.
In addition, according to the lawsuit, the Trumps should be stripped of control of their holding company and placed under the control of an independent regulator. The Trump Organization includes residential real estate, upscale hotels, golf courses and other luxury leisure facilities.
Trump, who is seeking to run for president again in 2024, has dismissed the allegations as partisan-motivated “witch hunts.”
Trumps faced numerous inquiries and investigations
Attorney General James is not authorized to take criminal action against the ex-president. At the end of October, a tax fraud trial against Trump’s family holding company had already started in New Zealand. Prosecutors accuse the Trump Organization of failing to report and not tax executive benefits. The holding company’s longtime CFO, 75-year-old Allen Weisselberg, has already pleaded guilty to 15 counts. Trump himself has not been charged in the case.
The ex-president is also facing a slew of investigations and investigations at various levels and on various charges. These include his influence over radical supporters who stormed the Capitol in Washington in January 2021. He is also suspected of violating an espionage law for hoarding government documents marked classified and confidential at his Florida home.