‘Devoid of useful details’: Court overturns Trump’s objection to penalty payment

“Devoid of useful details”
Court rejects Trump appeal over fine

The New York Attorney General is investigating whether Donald Trump and company artificially inflated or understated their fortunes. However, the ex-president fails to find the necessary documents. A court doesn’t believe a word he says and upholds a fine.

A New York court has dismissed Donald Trump’s appeal for contempt of court. The former US president must continue to pay a fine of 10,000 dollars a day if he refuses to hand over financial documents to justice. The outstanding debt already amounts to 80,000 US dollars.

The court found the real estate mogul guilty last week and ordered the surrender of required tax and accounting documents to New York Attorney General Letitia James. She’s been investigating possible financial crimes against Trump since 2019. Among other things, she’s investigating whether the family business, the Trump Organization, artificially inflated real estate values ​​to get new loans from banks. In other cases, Trump would have reduced his assets in order to have to pay less taxes or insurance premiums.

According to the former US president, the financial documents are now untraceable. The company had searched for her to no avail, she said in an affidavit filed with the objection. This was rejected by the judge: “The statement is devoid of all useful precision and detail,” he said, according to the Guardian, justifying the decision to maintain the verdict.

“Miscorrectly and Fraudulently Valued Assets”

Last January, James said he collected evidence of fraudulent financial practices. “In our investigation, we uncovered significant evidence to suggest that Donald J. Trump and the Trump Organization misvalued numerous assets and fraudulently.” The assets were misrepresented to financial institutions to obtain “economic benefits”.

Then, in February, a judge ordered Trump, his daughter Ivanka and son Donald Jr. to testify under oath in the investigation. The Trumps appealed. The former president has repeatedly described the attorney general’s investigation as politically motivated. James is a member of President Joe Biden’s Democratic Party, which defeated Trump in the 2020 presidential election.

Trump has been accused of questionable business and financial practices for decades. It’s still unclear how dangerous Trump’s investigations in New York could be. The 75-year-old has repeatedly spoken of a possible re-election as president in 2024. The right-wing populist is still held in high esteem by his supporters, and he is still the dominant figure in his Republican Party.

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