New York Attorney General Letitia James has proposed stringent penalties against former President Donald Trump and his company executives in the Trump fraud case. Post-trial motions filed by James’ office include a $370 million fine and a lifetime ban from the real estate industry in New York for Trump, Allen Howard Weisselberg (former Trump Organization CFO), and Jeff McConney (ex-Trump Organization controller).
The fine breakdown is as follows: $168 million for interest saved through alleged fraud, $152 million from the sale of the Old Post Office building in Washington, D.C., $60 million from the transfer of the Ferry Point Golf Course contract, and $2.5 million related to severance agreements for Weisselberg and McConney. Additionally, James has requested five-year bans for Trump’s sons, Donald Trump Jr. and Eric Trump, from holding officer or director roles in New York corporations.
The judgment found Trump and his top executives guilty of persistent fraud in inflating Trump’s financial statements by $812 million to $2.2 billion. Trump denies wrongdoing, dismissing the lawsuit as a partisan attack and intends to appeal. James argues that the illegal acts aimed to defraud and resulted in millions in unlawful gains, exceeding her initial 2022 damage estimate of $250 million.
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