From Dow Jones & Company:

New York Attorney General Letitia James is seeking a $370 million penalty and harsh sanctions against former President Donald Trump and his real-estate business, alleging they reaped hundreds of millions of dollars in ill-gotten gains. The AG’s office previously sought a $250 million fine and now wants a larger penalty, a statewide permanent ban for Trump from the commercial real-estate industry, and a five-year industry ban for Trump’s sons. The Trump Organization denies any wrongdoing, and the case is ongoing with closing arguments scheduled for Jan. 11. Mazars, their accounting firm, quit last year and said financials from 2011 to 2020 should not be relied upon.

The civil fraud case seeks to show that the value of many of Trump’s prized real estate buildings were inflated between 2011 and 2021, resulting in more favorable terms on real-estate loans than otherwise would have been available. The next major step in the case is closing arguments, which are scheduled for Jan. 11.



Read more: New York AG seeks $370 million fine from Donald Trump, lifetime real estate ban