From Fortune:

Former President Donald Trump is facing a lawsuit accusing him of civil business fraud, with New York state lawyers seeking penalties of over $370 million.

High stakes have led to extensive courtroom battles. Lawyers for both sides filed papers ahead of closing arguments, expected next Thursday. The civil lawsuit could impact Trump’s ability to do business in New York.

The state of New York is seeking a $370 million penalty plus interest in a lawsuit that accuses Trump of deceiving banks and insurers by inflating his net worth. Trump denies any wrongdoing.

State attorney general Letitia James’ office is alleging that Trump and his company intended to defraud banks and insurers, and that they employed numerous deceptive schemes to inflate asset values and conceal facts. Trump denies any wrongdoing and has called the case political.

Donald Trump branded the $370 million civil lawsuit a “political maneuver” and “abuse of the legal system” in a bid to stop Republican Party’s chances of winning back the White House this year. He has also asked that the claims against Donald Jr. and Eric Trump be dismissed and caricaturized the lawsuit as Democratic maneuvering.



Read more: New York state increases penalty demand on Donald Trump to $370 million