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New York Attorney General Letitia James wants a whopping $370 million in Donald Trump’s civil fraud case, and she wants to permanently bar him from doing business in the state’s real estate industry.
The staggering request came Friday in a 103-page court filing to Judge Arthur Engoron ahead of closing arguments next week in the case that threatens the future of the Trump business empire.
Since the state previously raised the prospect of a (still whopping) $250 million figure, it’s worth unpacking how James’ office arrived at the latest number. Friday’s filing calculates the $369,948,314 like this:
(i) $168,040,168 in saved interest on four commercial real estate loans; (ii) $139,408,146 in profit from the sale of OPO[ the Old Post Office]; (iii) $60,000,000 in profit from the sale of Ferry Point; and (iv) $2,500,000 in bonuses paid to [former CFO Allen] Weisselberg and [former Controller Jeffrey] McConney.
Citing corporate malfeasance, James also asks for an independent monitor to “closely oversee” the Trump Organization for at least five years, as well as permanent statewide bans in the industry not only for Trump, but also for Weisselberg and McConney, plus five-year bans for the former president’s adult sons, Eric Trump and Donald Trump Jr. Unsurprisingly, the civil defendants contest James’ stance in their own court filings.
Both sides will get to plead their cases to Engoron at closing arguments Thursday. The judge will rule after that, though the final word will likely be determined on appeal.
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