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Trump's big NY fraud verdict won't come until next week: source

Laura Italiano,Jacob Shamsian   

Trump's big NY fraud verdict won't come until next week: source
  • A verdict in Trump's NY fraud trial won't come until February, a source told Business Insider.
  • Judge Arthur Engoron had said he'd try to get it done by the end of January. That won't happen.

The verdict in the New York attorney general's sprawling civil fraud lawsuit against Donald Trump and his family company won't come until early February, a source familiar with the timing told Business Insider.

New York Supreme Court Justice Arthur Engoron, who oversaw the three-month bench trial, had previously said he aimed to issue his verdict in the case by the end of January.

That's no longer the plan. The written verdict is now expected to hit the electronic court docket on or around February 5, according to the source, an insider who spoke to BI on condition of anonymity.

New York Attorney General Letitia James has sought at least $370 million in damages from the Trump Organization, Trump personally, his two eldest sons, and other executives included as defendants.

She also seeks a package of relief that could seriously cripple or even kill Trump's real-estate and golf-resort empire, including bans on Trump buying property and running a business in New York.

James' lawsuit alleged that Trump falsified property valuations to obtain overly-beneficial tax and loan interest rates, and asked Engoron to allow the office to claw back the ill-gotten gains.

Engoron already dealt a devastating blow against the Trump Organization in a summary judgment decision ahead of the trial last fall, where he ruled it had engaged in fraud and ordered it to be partially dissolved. That decision has been on hold while it's under review by an appeals court, and it's unclear whether Engoron will change his mind about the dissolution in his decision next month.

Whatever Engoron's verdict, it will almost certainly be appealed as well. In their closing argument at the trial, Trump's attorneys raised Constitutional issues that indicate they will almost certainly bring the case to the US Supreme Court if they need to.

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