NY AG James seeks $370 million from Trump in civil fraud trial
Former President Trump looks on during a campaign event on Dec. 19 in Waterloo, Iowa. Photo: Scott Olson/Getty Images
The New York attorney general's office argued Friday that former President Trump and his company should pay $370 million in penalties for decades of financial fraud, according to a court filing.
Why it matters: New York Attorney General Letitia James originally requested $250 million when she filed her civil fraud lawsuit against Trump, but the new total reflects new evidence of "ill-gotten gains," she wrote.
Driving the news: James also argued that Trump and his former business associates should be permanently barred from participating in the real estate industry in New York or "from serving as an officer or director of any New York corporation or other legal entity."
- "Trump, [Allen] Weisselberg and [Jeffrey] McConney worked together for years to inflate Trump's net worth while concealing the fraud from counterparties," the filing said.
- James argued that the former president's "myriad deceptive schemes ... to inflate asset values and conceal facts were so outrageous that they belie innocent explanation."
The other side: Trump's lawyers in a separate post-trial brief on Friday wrote that the state of New York did not demonstrate any "real-world impact" by Trump's financial statements, which a judge said was overstated by billions.
What to watch: The filing comes less than a week before closing arguments in the ongoing civil fraud trial are set to begin.
- The judge overseeing the trial has indicated that he plans to determine penalties in the case by the end of January.
Go deeper: Where Trump's civil fraud trial stands
Editor's note: This is a developing story. Please check back for updates.