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Justice Arthur F. Engoron granted a partial summary judgment against the Trump Organization and found that the former president and his company deceived banks, insurers and others by massively overvaluing his assets and exaggerating his net worth on paperwork used in making deals and securing financing.

Engoron ordered that some of Trump's business licenses be rescinded, making it difficult or impossible for them to do business in New York.

The decision by Justice Arthur F. Engoron precedes a trial that is scheduled to begin Monday, and will considerably smooth Attorney General Letitia James's path forward as she seeks a penalty of about $250 million.

Justice Engoron's decision narrows the issues that will be heard, effectively deciding that the trial was not necessary to find that Mr. Trump was liable and that the core of Ms. James's case was valid. It represents a major blow to Mr. Trump, whose lawyers had sought to persuade the judge to throw out many of the claims against the former president.

Trump still has a card or two to play but this is a major setback which may signal the beginning of the dissolution of the Trump Organization.


https://www.nytimes.com/2023/09/26/nyregion/trump-...

Trump still has a card or two to play but this is a major setback which may signal the beginning of the dissolution of the Trump Organization.

More than anything else he faces in court, this is possibly the beginning of the end of Trump himself as a force in politics. Trump's entire lifestyle is literally built upon debt. Anything that curtails his ability to enter new contracts or pledge existing assets with inflated values when rolling over debt will hasten the financial reckoning that will dry up his financial empire in months.

To borrow from something Patton might have said, Americans, the kind of Americans that love people like Trump, love a winner and won't tolerate a loser, ESPECIALLY a financial loser. Without the ability to roll over existing debt using inflated valuations of existing assets and without the ability to negotiate new contracts for new schemes that provide the illusion of progress and future profit, Tramp will vanish into a black hole. Would Trump bother with flying into political rallies if he had to fly coach on Spirit or American Eagle? Have you SEEN the loser Americans who hang out at airports, waiting in line with their roller bag at TSA security, schlepping to gate C42 on the people movers, then sitting through a flight delay eating hideous, overpriced airport restaurant food? There's no fun in pretending to be America's leader when you have to actually spend time around real Americans that you despise cuz you cannot afford to avoid their presence.


WTH

"Justice Arthur F. Engoron granted a partial summary judgment against the Trump Organization and found that the former president and his company deceived banks, insurers and others by massively overvaluing his assets and exaggerating his net worth on paperwork used in making deals and securing financing"

In the United States, the presiding judge generally must find there is "no genuine dispute as to any material fact and the movant is entitled to judgment as a matter of law."[2] WIKI

In the order, the judge rejected Trump's deposition testimony in which the former president said that the financial statements were not fraudulent because they contained disclaimers. Trump said the statements contained a 'worthless clause' in them warning lenders and others that they shouldn't be relied on.

Tuesday, the judge said that 'the defendants' reliance on these 'worthless' disclaimers is worthless.'

https://www.cnn.com/2023/09/26/politics/trump-orga...

So it looks like one of the borderline frivolous arguments Trump's attorney's make is that the financial statements Trump gave the bank to rely on for loans had these "worthless clauses", which the judge considers a specious argument, and the attorneys keep repeating it. Trump should've just told his attorneys to go find the extra 2.2 billion in assets that he knows is there.

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