New York judge to decide on Trump's $370M fraud case and business future

New York State Judge Arthur Engoron is expected to announce the ruling on the penalties to be imposed on Donald Trump and his co-defendants in a civil fraud case, and whether the former president can continue conducting business in New York. The ruling, which could amount to as much as $370 million, follows the guilty verdict against Trump and his associates for inflating the value of business properties owned by the Trump Organization when applying for business loans and obtaining business insurance.

Allegations and previous rulings

The New York Attorney General Letitia James led the prosecution, alleging that Trump and his co-defendants artificially inflated the value of business assets, such as 40 Wall Street, Trump Tower, and the Mar-a-Lago resort in Florida.

In a previous ruling on September 25, Judge Engoron sided against Trump and his co-defendants, revoking the Trump Organization's New York business license and appointing a receiver to oversee the dissolution of its properties in New York. Engoron is expected to rule on whether the former president can continue doing business in New York.

Implications and Arguments

Closing arguments for the damages phase were presented on January 11, following 11 weeks of hearings. Throughout the trial, Trump and his lead attorney, Alina Habba, maintained that the case was politically motivated. However, James asserted that the lawsuit was not politically driven.

Anticipation and significance

The judge's ruling is highly anticipated and may have significant implications for Trump's financial liabilities and business operations in New York.