The defendants have maintained that they did nothing wrong, and no party was harmed in the course of their financial transactions.
Attorneys for former President Donald Trump have asked an appeals court to stay his civil fraud ruling, $363 million penalty, and injunctions on doing business in the state.
“The urgency of this application is evident in light of the punitive and exorbitant disgorgement awarded against Appellants, the impact of the injunctive relief upon lawful businesses, the uncertainty created by the vague and overbroad directives Supreme Court issued, and the Attorney General’s public threats that she will seize Appellants’ real property forthwith to satisfy the Judgment,” the new filing reads.
After receiving a swift rejection from the trial court judge for a stay of judgment last week, attorneys for the defense filed a notice of appeal in the contentious case.
The fraud case against the former president and other Trump Organization executives and entities was brought by New York Attorney General Letitia James, whom the defense has criticized as politically motivated and for campaigning on a platform to “get Trump.”
The massive penalties came after a 45-day trial that ended early this year, and New York Supreme Court Justice Arthur Engoron entered judgment on Feb. 23.
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Attorney Clifford Robert, representing President Trump, Eric Trump, Donald Trump Jr., and several Trump Organization entities, filed the brief on behalf of all defendants. Former Trump Organization CFO Allen Weisselberg and comptroller Jeffrey McConney had also been named defendants.
He argued that the trial court judge also improperly considered evidence and claims outside the statute of limitations, flouting an order from the appeals court.
“The Judgment evinces Supreme Court’s continued unwillingness to comply with the directive in this Court’s June 27, 2023, decision that all untimely claims be dismissed and confirms that Supreme Court considered time-barred claims in awarding the Attorney General sweeping injunctive relief,” the filing reads.
The defendants have maintained that they did nothing wrong, and no party was harmed in the course of their financial transactions.
“It is undisputed that those transactions were private, complex commercial transactions fully governed by bilateral agreements negotiated by commercially savvy parties,” the new filing reads.
Deutsche Bank and Zurich insurance group representatives had testified at trial, both reporting that they had done independent analyses of the Trump Organization before issuing loans or insurance. The bank had also testified that it courted President Trump’s business as a high net worth individual.
Penalties
The penalties included the $363 million disgorgement figure for all defendants ($355 million applying to President Trump), subject to 9 percent interest, and have been backdated depending on the entity at issue.
The organization was also assigned ongoing monitorship by a third party, former judge Barbara Jones, and a risk compliance officer, whose reports to the court may result in additional penalties including the cancellation of business certificates.
Mr. Weisselberg and former Trump Organization comptroller Jeffrey McConney are also permanently banned from holding executive positions, while President Trump is barred from holding executive positions or applying for loans for three years, and Eric Trump and Donald Trump Jr. are barred from holding executive positions for two years.
Pre-trial injunctions had also been ordered.
In October 2022, the attorney general requested an independent monitor be appointed to oversee the submission of Trump Organization financial information in the case, and it was granted. The court had also barred the defendants from selling, transferring, or disposing of any non-cash assets without first giving the attorney general two weeks’ notice.
In August 2023, the attorney general requested summary judgment to find the defendants liable for inflating President Trump’s net worth, and the judge ruled in the state’s favor.
Justice Engoron had also ordered the cancellation of Trump Organization business certificates before the trial, but the order was quickly stayed by an appeals court, and the judge later vacated the order at the end of trial.
Original News Source Link – Epoch Times
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