• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

I wrote that Boomers were choking America’s economy. Their responses to me were revealing

2

U.S. says deals with Iran for safe Hormuz transit are prohibited

3

After a judge ordered Trump's name be removed from the Kennedy Center, president says it will 'soon be closed, probably never to open again'

1

I wrote that Boomers were choking America’s economy. Their responses to me were revealing

2

U.S. says deals with Iran for safe Hormuz transit are prohibited

3

After a judge ordered Trump's name be removed from the Kennedy Center, president says it will 'soon be closed, probably never to open again'
FinanceDonald Trump

Donald Trump fails to halt New York fraud trial as Letitia James says he lives in a ‘fantasy world’ where ‘facts don’t matter’ 

By
Michael R. Sisak
Michael R. Sisak
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Michael R. Sisak
Michael R. Sisak
and
The Associated Press
The Associated Press
Down Arrow Button Icon
October 6, 2023, 7:02 PM ET
Former President Donald Trump speaks to reporters as he leaves the courtroom during a lunch break in his civil business fraud trial on Wednesday in New York.
Former President Donald Trump speaks to reporters as he leaves the courtroom during a lunch break in his civil business fraud trial on Wednesday in New York. AP Photo/Mary Altaffer, File

Donald Trump’s civil fraud trial will roll ahead next week after the former president lost a bid Friday to halt the proceedings while he fights a pretrial ruling that could strip him of Trump Tower and other marquee properties.

An appeals court judge rebuffed Trump’s push to pause the New York trial, but agreed to leave him in control of his holdings for now. The decision, after an emergency hearing Friday afternoon, came five days into the closely watched trial.

Trump went to the courthouse for the first three days of the trial in New York Attorney General Letitia James’ lawsuit, observing testimony — and fulminating to TV cameras outside about a case he deemed a “a witch hunt and a disgrace.”

Trump’s lawyers had asked the state’s intermediate appellate court to suspend the trial and prevent Judge Arthur Engoron from enforcing a ruling he made last week. Engoron’s decision revoked the Republican presidential frontrunner’s business licenses and puts a court-appointed receiver in charge of his companies.

“This is a massive error. It is irreparable,” Trump lawyer Christopher Kise told the appellate judge, Associate Justice Peter H. Moulton. Kise argued that the ruling will make defendants in other cases fear that their companies and properties will be seized without recourse.

“We’re not seeking a delay. We’re seeking a fair trial,” Kise said.

Trump’s lawyers said Engoron’s ruling could harm not only the ex-president and other defendants but as many as 1,000 employees.

State Deputy Solicitor General Judy Vale told the appeals judge that James’ office had already offered to keep the business licenses as-is until after the trial. Kise acknowledged the offer, but said he was worried Engoron wouldn’t allow it.

“We could have resolved some of this, and we’re still happy to do so,” Vale said, calling the defense arguments for a delay “completely meritless.”

“No one thinks the lights will go off at 40 Wall Street tomorrow, that’s not what’s happening,” Vale said.

Mounting the trial has been ”an enormous endeavor,” Vale said, entailing extensive court planning, security resources for Trump’s attendance and special arrangements for press and public access.

In a statement, Kise said that he was pleased the appeals court “upheld New York law and put a halt to any cancellation of business certificates, receivers or dissolution.”

“The trial court’s attempt to reach issues, entities and assets beyond the scope of this case has been suspended,” Kise said.

James countered that Trump’s side was “falsely claiming victory” for a resolution that her office had proposed and that the big takeaway was that the trial goes on as scheduled.

“Once again, Donald Trump’s attempts to delay this trial have been rejected,” James said in a statement. “Yet another court denied his efforts to evade justice for his years of fraud. But Donald Trump lives in a fantasy world where money grows on trees and facts don’t matter.”

The appellate court last week rejected the defense’s last-minute effort to delay the trial just days before it began. On Thursday, Trump’s lawyers dropped a lawsuit they filed against Engoron as part of that challenge.

Engoron ruled last week that Trump committed years of fraud as he built the real estate empire that vaulted him to fame and the White House.

The judge, ruling on the top claim in James’ lawsuit, found that Trump routinely deceived banks, insurers and others by exaggerating the value of assets on his annual financial statements, which were used in making deals and securing loans.

Trump has denied wrongdoing, arguing that some of his assets are worth far more than what’s listed on the statements.

Before the appellate action, former Trump Organization controller Jeffrey McConney testified at the trial Friday that values he assigned to Trump’s Mar-a-Lago resort in Florida — as much as $739 million in 2018 — were based on the false premise that it could be sold as a private residence. Such use is prohibited by Trump’s 2002 agreement with the National Trust for Historic Preservation.

“Were you aware that Mr. Trump had deeded away his right to use the property for any other purpose than a social club?” state lawyer Andrew Amer asked.

“I was not aware,” said McConney, who’s also a defendant in this case.

The trial will resume Tuesday with Trump’s longtime finance chief Allen Weisselberg on the witness stand. Weisselberg, a defendant, oversaw Trump’s dealmaking, was involved in securing loans and supervised McConney’s work on the financial statements. He left jail in April after serving about 100 days for dodging taxes on $1.7 million in job perks.

As the trial was unfolding this week, Engoron issued an order Thursday setting procedures for enforcing his ruling. He gave both sides until Oct. 26 to submit names of potential receivers and gave Trump and other defendants seven days to provide a court-appointed monitor, retired federal judge Barbara Jones, with a list of all entities covered by the ruling.

He also ordered the defendants to give Jones advance notice of any application for new business licenses in any jurisdiction and any attempts to create new entities to “hold or acquire the assets” of a company that’s being dissolved under the ruling.

Trump’s lawyers argued in court papers that Engoron had “no rationale or legal authority” to impose what they described as “the corporate death penalty.” They also rapped the judge for not being clear in explaining the real-world effects of his decision.

At a pretrial hearing on Sept. 26, Trump lawyer Christopher Kise pressed Engoron to clarify whether his ruling meant Trump would be required simply to close up some corporate entities or if he’d be forced to relinquish some of his most prized assets.

Engoron then said he wasn’t “prepared to issue a ruling right now.”

___

Associated Press writer Jennifer Peltz contributed.

About the Authors
By Michael R. Sisak
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

Financial markets are losing the security blanket that’s bailed them out of trouble so many times, top economist warns 
EconomyMarkets
Financial markets are losing the security blanket that’s bailed them out of trouble so many times, top economist warns 
By Jason MaMay 31, 2026
3 hours ago
AI will make the ‘tech bro’ class even richer, Nobel laureate Joe Stiglitz says, just as it can take your job
AIJobs
AI will make the ‘tech bro’ class even richer, Nobel laureate Joe Stiglitz says, just as it can take your job
By Catherina GioinoMay 31, 2026
4 hours ago
peter thiel
AIskills
Forget the STEM safety net. Peter Thiel warns AI is a bigger threat to technical roles than to creative thinkers
By Jake AngeloMay 31, 2026
4 hours ago
Hegseth seeks to convince allies U.S. should stay quiet on Taiwan
AsiaChina
Hegseth seeks to convince allies U.S. should stay quiet on Taiwan
By Josh Xiao, Philip J. Heijmans and BloombergMay 31, 2026
4 hours ago
Allison Danielsen is CEO, Tallo.
CommentaryCareers
My wrist injury derailed my college plans. It’s why I’m a CEO today
By Allison DanielsenMay 31, 2026
8 hours ago
treble
CommentaryElections
I built a startup from scratch and still nearly died because of a broken healthcare system. That’s why I’m running for Congress
By Jonathan TrebleMay 31, 2026
8 hours ago

Most Popular

I wrote that Boomers were choking America’s economy. Their responses to me were revealing
Personal Finance
I wrote that Boomers were choking America’s economy. Their responses to me were revealing
By Nick LichtenbergMay 31, 2026
9 hours ago
U.S. says deals with Iran for safe Hormuz transit are prohibited
Politics
U.S. says deals with Iran for safe Hormuz transit are prohibited
By Jack Wittels and BloombergMay 30, 2026
1 day ago
After a judge ordered Trump's name be removed from the Kennedy Center, president says it will 'soon be closed, probably never to open again'
Law
After a judge ordered Trump's name be removed from the Kennedy Center, president says it will 'soon be closed, probably never to open again'
By Collin Binkley and The Associated PressMay 30, 2026
23 hours ago
After Blue Origin rocket explosion, NASA's entire moon exploration program depends on SpaceX for now as Musk eyes blockbuster IPO soon
Innovation
After Blue Origin rocket explosion, NASA's entire moon exploration program depends on SpaceX for now as Musk eyes blockbuster IPO soon
By Jason MaMay 30, 2026
1 day ago
Surging Treasury yields expose a brutal truth: America has no margin for error on its $39 trillion debt
Economy
Surging Treasury yields expose a brutal truth: America has no margin for error on its $39 trillion debt
By Shawn TullyMay 30, 2026
2 days ago
Ex–Google CEO Eric Schmidt warns U.S. tech workers: Competing with China’s grueling 12-hour workdays means sacrificing work-life balance
Future of Work
Ex–Google CEO Eric Schmidt warns U.S. tech workers: Competing with China’s grueling 12-hour workdays means sacrificing work-life balance
By Marco Quiroz-GutierrezMay 30, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.