By Michael R. Sisak -
The Associated Press
The verdict in the civil fraud trial in New York against Donald Trump is expected this Friday, adding to an eventful week in the former president's legal calendar.
Judge Arthur Engoron's decision could hit Trump with millions of dollars in fines and other sanctions.
The magistrate has already ruled that the former president inflated his fortune in the financial statements he gave to banks, insurers and others, to do business and secure loans.
New York Attorney General Letitia James is seeking penalties of up to $370 million and a ban on Trump and other defendants from doing business in the state.
Such a move could end the real estate empire that helped him build his image as a billionaire and catapulted him to fame and the White House.
[Trump says he is “innocent” in the final arguments of the civil trial for fraud but insults the judge and he tells him to shut up]
Engoron will decide after two and a half months of trial in which he heard the testimony of about 40 witnesses, including Trump.
Closing arguments occurred on January 11.
It is up to the judge to resolve the case because juries are not allowed in these types of lawsuits and neither James nor the former president's lawyers asked for one.
Engoron's decision is expected this Friday, unless unforeseen circumstances arise that require a delay, according to court officials.
Donald Trump during closing arguments in his civil fraud trial in New York.Shannon Stapleton / AP
It's been a busy week in the courts for Trump.
On Tuesday, another judge in New York decided that the former president will go to trial on March 25 on charges of falsifying his company records, part of an effort to buy the silence of people who might tell potentially embarrassing stories about alleged infidelity.
Trump has said he is not guilty.
If the dates hold, it will be the first of his four criminal cases to go to trial.
This Thursday and Friday, a judge in Atlanta (Georgia) hears arguments to decide whether to remove Fulton County District Attorney Fani Willis from the case against Trump for election interference, following allegations that she had a personal relationship with a prosecutor special that he hired.
[Police respond to a bomb threat at the home of the judge presiding over the civil fraud trial against the Trump family]
James' New York office estimated that Trump exaggerated his fortune by as much as $3.6 billion.
Prosecutors alleged he used the inflated numbers to get lower insurance policies and favorable loan terms, saving him up to $168 million in interest alone.
Trump has denied wrongdoing and his lawyers have said they will appeal Engoron's decision.
On November 6, the now candidate for the presidential elections declared that his financial statements actually underestimated his net worth and that the banks conducted their own investigation and were satisfied with his company.
During closing arguments this January, he called the case a “fraud against me.”
Engoron decides six allegations in James' lawsuit, including conspiracy, falsification of business records and insurance fraud.
Lawyers for the state alleged that Trump exaggerated his wealth by as much as $3.6 billion in one year.
Before the trial, Engoron ruled on James' main argument, ruling that the former president's financial reports were fraudulent.
As punishment, he ordered that control of some of his companies be taken away and that they be dissolved.
An appeals court put the decision on hold.
Since this is a civil case and not a criminal one,
there is no possibility of prison sentences.