(PartiallyPolitics.com) – The recent legal developments have placed a significant strain on Donald Trump’s business empire, with potential repercussions for his ownership of properties like the Mar-a-Lago resort. On a podcast hosted by his niece, Mary Trump, lawyer Joe Gallina expressed a bleak outlook for Trump following his deposition in the ongoing New York civil fraud case.
In this case, Trump is contending with allegations brought forward by New York Attorney General Letitia James, who claims that Trump has been engaging in fraudulent practices by exaggerating the worth of his assets to secure loans and tax advantages. While Trump maintains his innocence, the allegations against him are serious, involving a lawsuit that could amount to $250 million.
The presiding Judge, Arthur Engoron, has already determined that Trump misrepresented the value of his properties, which is at the core of the trial. The trial now focuses on the remaining accusations and the extent of any financial penalties.
The stakes are high, as Trump could potentially be barred from business activities in New York, lose control over his assets, or face a substantial financial penalty. During his testimony, Trump conceded that his company, The Trump Organization, produced financial statements to influence lenders like Deutsche Bank, seemingly affirming a central claim of the Attorney General’s case.
Tensions were evident during the testimony, with Trump criticizing Judge Engoron for what he perceived as bias. Gallina, commenting on Mary Trump’s podcast, indicated that Trump’s courtroom performance did little to favor his defense and that his assets, including his Florida residence, might be at risk of being seized to settle any financial judgments.
Gallina also mentioned that the prosecution is aiming for a verdict that could reach or exceed $250 million. The eventual outcome could result in the liquidation of The Trump Organization’s assets to pay off debts, leaving the future of properties like Mar-a-Lago uncertain.
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