The New York judge overseeing Donald Trump’s civil fraud trial has postponed the expected release of his ruling on damages, which could cost the former president hundreds of millions of dollars. The delay comes as authorities negotiate a potential perjury charge against Allen Weisselberg, the former chief financial officer at Trump’s company.
Supreme Court Justice Arthur Engoron had previously ruled that Trump committed fraud by reporting exaggerated values for real estate to obtain benefits for loans and insurance. However, the trial was held to determine damages, and Engoron aimed to rule by January 31. The deadline passed, and he now plans to finish the case by mid-February, according to Alfred Baker, a spokesperson for New York’s Office of Court Administration.
The delay in the ruling coincides with Manhattan prosecutors considering a potential perjury charge against Allen Weisselberg. Weisselberg, the former CFO of the Trump Organization, had already served 100 days in jail last year for tax evasion related to $1.7 million in compensation from the Trump Organization. He is currently on probation.
Weisselberg testified during Engoron’s trial regarding Trump’s wealth and financial statements. The specifics of his testimony that drew the attention of prosecutors are not clear. Manhattan District Attorney Alvin Bragg’s office is in negotiations with Weisselberg’s legal team, although it remains uncertain if criminal charges will be filed.
In the civil fraud trial, New York Attorney General Letitia James seeks $370 million in damages from Trump, his two eldest sons, his company, and two company officials. James also aims to block Trump from conducting business in the state. Engoron had already ordered the cancellation of Trump’s business certificates, but this decision is on hold pending Trump’s appeal. Trump and his lawyers argue that there were no victims in the case as banks were repaid with interest.
The ruling by Engoron follows a recent federal jury decision that ordered Trump to pay $83.3 million to columnist E. Jean Carroll for defamation. Trump has consistently claimed that the Democratic attorney general and the judge are politically persecuting him.
While the trial revealed Trump’s fraudulent reporting of property values, the damages ruling will determine the financial consequences he faces. The negotiations around potential perjury charges add a layer of complexity to the legal proceedings, with the outcome expected to have significant implications for Trump’s financial and legal standing.
In addition to the civil fraud trial, Trump faces various legal challenges, underscoring the intensification of his legal battles post-presidency. The delay in the damages ruling prolongs the uncertainty surrounding the financial repercussions for the former president, contributing to the broader narrative of Trump’s ongoing legal entanglements.