Breaking News
The Student News Site of Santa Rosa Academy

The Lasso

The Student News Site of Santa Rosa Academy

The Lasso

The Student News Site of Santa Rosa Academy

The Lasso

Trump Civil Lawsuit Explained

In 2022, the New York Attorney General’s office filed a civil lawsuit against Donald Trump, his business networks, and his associates. Their claims consisted of financial fraud and other fiscal crimes. They claim that the Trump organization led the government, investors, and the public with false property values and accuse the Trump organization and executives of deceiving banks and insurers about the size of his wealth/assets, for example, Trump Tower and Mar-a-Lago. Former President Donald Trump now has to pay a bond worth $175 million down from the original 454 million dollars in various penalties and or fees.

Image shows Trump Tower being entered by the public. Supports can also be seen with a flag of Donald Trump saying never surrender.
Courtesy of Swiss Info

Former President Trump is accused of overstating his net worth to defraud investors. Another action driving the discretion of his real estate empire seemingly imperils his life’s work to an even greater extent. The lawsuit was brought forward by the New York Attorney General’s office by Letitia James who accused Trump and his business of overstating his wealth by billions of dollars claiming Donald Trump fooled bankers, investors, and the general public.

New York Justice Arthur Engoron’s decision issued after a long three-month trial in Manhattan resulted in the former President being banned from “serving as an officer or director of any New York corporation for three years.” Later Trump’s lawyer, Alina Habba, vowed to appeal. The findings showed that Trump and his companies were engaged in a longtime scheme to inflate Trump and the company’s assets used to secure loans.

Image shows Mr. Trump in front of Trump tower in New York. Trump Tower is a subject of the case.
Courtesy of

The ruling requires Trump to pay a significant fine and place his companies under court supervision among other agreements. Donald Trump himself has criticized the ruling calling it “election interference” alluding to plans to appeal despite the court reducing the original amount owed and granting Trump an extra ten days to pay the amount.

The reduction is extremely significant as it relieves Trump, his team, companies, and assets of the financial burden while they attempt to appeal the verdict. He was previously requesting a 30-day extension to allow for an “orderly judgment process” which makes sense due to the magnitude of this case and subsequent decision. The request was denied as the reduction and extension are considered related to the proceedings and have nothing to do with the judgment or decision.

Investment firms now alleging their files were stolen by Donald Trump’s personal media company specifically stolen by the board of directors. Eric Swider is accused of stealing access to the firm’s computer data systems. The reasoning for doing this was to mount a hostile takeover replacing Patrick Orlando, former CEO of Digital World Acquisition Corporation. This caused Trump’s Trump-owned social media platform Truth Social to soar in the stock market due to a merger taking the company public. Trump is also being sued by the co-founders of the app for mismanagement of the merger attempting to bar them from owning stock.

Donald Trump has since narrowly escaped a major financial disaster that has been looking for a while now. He is spared from paying 454 million dollars in the civil fraud case while he attempts to appeal it. The collection is not allowed to go through until the appeal is resolved before the extension. Trump was only given 10 days to come up with the bond. If Donald Trump does not come up with the money quickly he will have to pay an extremely taxing fine. If he does not win his case he will be barred from doing business in New York for some time being a major blow to the former president.

This situation is currently developing, please stay tuned.


Leave a Comment
Donate to The Lasso

Your donation will support the student journalists of Santa Rosa Academy. Your contribution will allow us to purchase equipment and cover our annual website hosting costs.

More to Discover
About the Contributor
Che Marroquin
Che Marroquin, Staff Writer
Che’ Marroquin is a Sophomore who wrestles for Santa Rosa Academy He has been attending Santa Rosa Academy for 11 years. His wrestling weight class is currently undecided but he has wrestled at 182, 195 and 215 before. Outside of school, Che’ enjoys Dungeons and Dragons, computer games, 3-D modeling, and playing guitar. Che’ is an outstanding student with a 3.5 grade point average. In his time, away from school and sports, Che’ enjoys listening to music, spending time with his family and playing Dungeons and Dragons with friends on the weekends. 
Donate to The Lasso

Comments (0)

All The Lasso Picks Reader Picks Sort: Newest

Your email address will not be published. Required fields are marked *