On his Truth Social platform, the 77-year-old asserted, "I'm going to Court tomorrow morning to fight for my name and reputation." He vehemently added, "This whole case is a sham!!!"
Apart from this civil case, Trump is grappling with a series of significant criminal proceedings in the coming months.
On March 4, he is slated to appear before a federal judge in Washington, facing charges of attempting to overturn the 2020 presidential election results, which were won by Joe Biden.
Following that, Trump will return to a New York state court, this time entangled in criminal hush money charges, and subsequently, he'll confront a Florida federal court, where accusations of mishandling classified documents after leaving office await him.
Lastly, he will have to respond to state charges in Georgia, where prosecutors allege that Trump unlawfully sought to manipulate the 2020 election results in his favor.
In the New York civil case, Engoron ruled that Trump, along with his two eldest sons and other Trump Organization executives, engaged in a scheme that involved deceiving tax collectors, lenders, and insurers for years. This scheme artificially inflated the value of their properties, ranging from $812 million to $2.2 billion, spanning from 2014 to 2021.
The judge's decision led to the revocation of business licenses, which permitted the Trump Organization to operate some of its New York properties.
Professor Will Thomas, an expert in business law at the University of Michigan, asserted that implementing such penalties could deal "a major blow to Donald Trump's ability to do business in the State of New York going forward."
Under this mounting pressure, Trump, who built his reputation and fortune as a real estate mogul in the 1980s, and had promised to bring his cutthroat industry tactics to the Oval Office, may ultimately relinquish control over numerous flagship properties, including the iconic 5th Avenue Trump Tower in Manhattan.
According to New York Attorney General Letitia James, a Democrat, Trump's own apartment within that building was among the spaces that were fraudulently overvalued, listed as three times larger than its actual size.
Another Manhattan property, located at 40 Wall Street, is alleged to have been overvalued by $200-$300 million in financial disclosures, as per James's claims.
Trump's luxurious Mar-a-Lago resort in Florida, the focal point of the classified documents controversy, and several other Trump Organization golf clubs are also featured in James's legal complaint.
In sum, she is seeking $250 million in penalties and the removal of Trump and his sons from the management of the family's business empire.
The impending trial is expected to feature a multitude of high-profile witnesses, including Trump himself, former Trump Organization financial director Allen Weisselberg, who previously served time in prison after admitting guilt in a separate tax fraud case against the business.
Trump's children, Eric, Don Jr., and Ivanka, the latter of whom was initially implicated in James's complaint but not ultimately prosecuted, are also likely to provide their testimonies.
Additionally, Trump's former attorney Michael Cohen, now a vocal critic of the former president, along with representatives from financial institutions linked to Trump, are expected to take the stand.
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