Trump Lawyer Alina Habba slammed the devastating ruling that the former president pay a whopping $355 million in the New York civil fraud trail, dealing a crushing blow to the man who has long touted his vast real estate empire.
‘This verdict is a manifest injustice – plain and simple,’ Alina blasted the decision in a statement provided to DailyMail.com. ‘It is the culmination of a multi-year, politically fueled witch hunt that was designed to “take down Donald Trump,” before Letitia james ever stepped foot into the Attorney General’s office.’
Habba goes on that countless hours of testimony ‘proved that there was no wrongdoing, no crime, and no victim.’
Trump’s legal team is vowing to appeal the decision.
‘Let me make one thing perfectly clear: this is not just about Donald Trump – if this decision stands, it will serve as a signal to every single American that New York is no longer open for business,’ Habba said.
As part of the decision, Donald Trump was barred from serving in a top position in a New York company for three years, and his two adult sons Don Jr. and Eric Trump were also barred for two years. Eric and Don Jr. were also ordered to pay more than $4 million each.
It follows an explosive three-month court case in which Trump was accused of massively inflating the values of his properties, including Mar-a-Lago and a Trump Tower penthouse, to obtain favorable terms on loans from banks.
The former president gave evidence during the trial and railed against the judge and prosecutor, arguing he had done nothing wrong and was being persecuted by political opponents.
Judge Arthur Engoron had already found Trump, and his sons Don Jr. and Eric, liable for fraud and the trial was to determine how much they should pay.
A verdict has been reached in Donald Trump ‘s blockbuster civil fraud trial in which he faces a potentially gigantic fine and could even lose control over his real estate empire
Trump has been represented by his firebrand lawyer Alina Habba. On Thursday she admitted she didn’t have ‘high hopes’ for the verdict
In this courtroom sketch former U.S. president Donald Trump watches as his lawyer Alina Habba delivers a closing argument in the Trump Organization civil fraud trial at New York State Supreme Court in the Manhattan borough of New York City, U.S., January 11, 2024
New York Attorney General Letitia James addresses the media outside New York Supreme Court, Wednesday, Nov. 8, 2023, in New York
The civil fraud case was brought by New York Attorney General Letitia James.
She had demanded over $370 million from Trump and that he be barred from doing business in the state of New York.
James accused Trump and his family businesses of overstating his net worth by billions of dollars.
She sought to permanently ban Trump from New York’s real estate industry and sharply limit his ability to do business in the state.
During the case Trump lambasted James, an elected Democrat, as partisan, ‘racist’ and ‘corrupt’.
He also conducted an ongoing feud with Judge Engoron and his clerk, which led to the former president being subjected to a gag order.
In closing arguments on January 11 Trump defied the judge and gave a six-minute diatribe after his lawyers spoke.
‘I am an innocent man,’ Trump protested. ‘I’m being persecuted by someone (James) running for office. What’s happened here, sir, is a fraud on me.’
Trump said he was being targeted by officials who ‘want to make sure I don’t win again.’
Judge Engoron told Trump’s lawyer Chris Kise to ‘control your client’.
At one point in proceedings Judge Arthur Engoron told the former president’s lawyer to ‘control your client’
An aerial view of former President Donald Trump’s Mar-a-Lago estate is seen Aug. 10, 2022, in Palm Beach, Fla. How much is Donald Trump’s Mar-a-Lago worth? That’s been a point of contention after a New York judge ruled that the former president exaggerated the Florida property’s value when he said it’s worth at least $420 million and perhaps $1.5 billion.
A penthouse in Trump Tower was p[art of the case after prosecutors said its value had been inflated by $200 million by tripling the estimate of the square footage.
New York Attorney General Letitia James brought the case against Donald Trump
James argued a massive fine was warranted due to the former president’s ‘myriad deceptive schemes’ to ‘inflate asset values and conceal facts.’
She claimed the alleged fraud schemes were ‘so outrageous that they belie innocent explanation.’
Trump’s attorneys fired back, saying that James had ‘no evidence’ and insisted there was not a single witness who backed up the allegations.
They also argued there were ‘no victims’ as banks were fully repaid.
The court valued Mar-a-Lago at between $18 million and $27.6 million based on the Palm Beach County tax appraiser’s estimates.
One Trump valuation when securing a loan put the value at 2,300 per cent of that.
During the case Trump claimed Mar-a-Lago was really worth up to $1.5 billion.
In this courtroom sketch, Judge Arthur Engoron, right, and principal law clerk Allison Greenfield listen to closing arguments in the civil business fraud trial against the Trump Organization at New York Supreme Court, Thursday, Jan. 11, 2024,
Ivanka Trump speaks on the witness stand during the Trump Organization civil fraud trial in New York State Supreme Court in the Manhattan borough of New York City, U.S., November 8, 2023 in this courtroom sketch
Donald Trump Jr is questioned during the Trump Organization civil fraud trial before Judge Arthur Engoron in New York State Supreme Court in the Manhattan borough of New York City, U.S., November 2, 2023
Former US President Donald J. Trump (C), flanked by lawyers Christopher Kise (L) and Alina Habba (R), sits in court during closing arguments in the Trump Organization civil fraud trial at New York State Supreme Court in the Manhattan borough of New York
Another argument was over the former president’s penthouse in Trump Tower.
Prosecutors said Trump inflated its value by about $200 million after tripling the estimate of the square footage to 30,000 sq ft.
Months before the trial the former president came face-to-face with James when he sat for a deposition at her Manhattan office.
Video of the seven-hour, closed-door session showed the Republican presidential frontrunner attacking the lawsuit as a ‘disgrace’ and ‘a terrible thing.’
Sitting with arms folded Trump complained that he was being forced to ‘justify myself to you’ after decades of success building a real estate empire.
He added that banks ‘want to do business with me because I’m rich’ and that New York authorities ‘spend all their time investigating me, instead of stopping violent crime in the streets.’
Former U.S. President Donald Trump speaks to the media after completing his testimony at his trial in New York State Supreme Court on November 06, 2023 in New York City
Ivanka Trump is shown multiple exhibits on the witness stand during the Trump Organization civil fraud trial before Judge Arthur Engoron in New York State Supreme Court in the Manhattan borough of New York City, U.S., November 8, 2023 in this courtroom sketch
Members of the news media are outside the lower Manhattan courthouse in New York on Thursday, January 11, where Judge Arthur Engoron presides over a trial to resolve remaining claims in New York Attorney General Letitia James’ lawsuit against former president Donald Trump, his company and top executives
Judge Engoron ruled last year that Trump had committed fraud in sending 11 years of allegedly inflated estimates of his net worth to Deutsche Bank and others.
But some legal experts have expressed concern that victory for James could make it easier for courts to wipe out companies in the future.
Adam Leitman Bailey, a New York real estate lawyer, said it would ‘set a horrible precedent’.
Under the New York anti-fraud statute, known as Executive Law 63(12), there have been only a handful of cases resulting in a ‘dissolution,’ and in all of those there were victims and losses.
Trump’s was the only big business that was threatened with a shutdown without a showing of obvious victims and major losses.
.S. President Donald Trump and Justice Arthur Engoron of the state Supreme Court listen to opening arguments from his lawyer Alina Habba (not seen), during the trial of Trump, his adult sons, the Trump Organization and others in a civil fraud case brought by state Attorney General Letitia James, at a Manhattan courthouse, in New York City, U.S., October 2, 2023 in this courtroom sketch
Judge Arthur F. Engoron consults with his law clerk Allison Greenfield during the Trump Organization civil fraud trial in New York State Supreme Court in the Manhattan borough of New York City, U.S., November 20, 2023, in this courtroom sketch
Of those entities previously shut down under the New York statute one was a charity that used nearly all its $9 million in donations to pay for director salaries, perks and other expenses instead of funding free mammograms.
In another case a private equity firm was closed down after stealing millions of dollars from thousands of investors.
A mental health facility was dissolved for taking $4 million from public funds while neglecting patients.
Other businesses shut down under the law included one that swindled people out of their home deeds.
