Trump’s New York Contempt Ruling Lifted After Paying $110,000 Fine

Breaking Business Trump’s New York Contempt Ruling Lifted After Paying $110,000 Fine Nicholas Reimann Forbes Staff I cover national politics, with a focus on Donald Trump. New! Follow this author to improve your content experience. Got it! Jun 29, 2022, 07:10pm EDT | Share to Facebook Share to Twitter Share to Linkedin Topline A New York Supreme Court judge lifted a civil contempt order against former President Donald Trump on Wednesday, according to multiple reports , which stemmed from the ex-president’s refusal to comply with a state investigation into potential fraud by the Trump Organization.

Then-Republican presidential nominee Donald Trump addresses a campaign rally in the Rodeo Arena at . . .

[+] the Jefferson County Fairgrounds on October 29, 2016 in Golden, Colorado. (Photo by Chip Somodevilla/Getty Images) Getty Images Key Facts Judge Arthur Engoron “purged” the contempt ruling after Trump Organization employees filed affidavits last week detailing the company’s practices for retaining documents, according to a court filing reviewed by Bloomberg. Trump was held in contempt in April after New York Attorney General Letitia James (D) claimed he “did not comply at all” with a subpoena asking for Trump Organization tax records and other financial documents, which Trump has repeatedly said he does not personally possess.

The former president paid a $110,000 fine to the attorney general’s office on May 19 as part of an offer Engoron extended to overturn the contempt ruling, which also required details on the Trump Organization’s policies for retaining and destroying documents. James’ office did not immediately respond to a request for comment from Forbes . Key Background James has been pursuing a civil investigation into the Trump Organization for years after Trump’s former personal attorney, Michael Cohen, testified at a Congressional hearing that the company routinely lied about the value of assets for financial gain.

Allegations have since surfaced that numerous businesses involving Trump inflated the value of assets to secure loans from banks while they purposely understated values to government bodies to save on tax bills. James’ probe is a civil matter that could result in a lawsuit, but criminal investigations into Trump’s businesses are ongoing in Manhattan and Westchester County, New York. What To Watch For The former president and his two oldest adult children, Donald Jr.

and Ivanka, are scheduled to testify next month in James’ probe. A stipulation signed last month by a prosecutor and attorneys for the Trumps set July 15 as the start date for testimony. Further Reading Trump Pays $110,000 Fine Required To Lift Contempt Ruling, New York AG Says (Forbes) Judge Holds Trump In Contempt For Failing To Hand Over Records To New York AG (Forbes) Trump’s Golf Club Now Faces Criminal Investigation—As Legal Troubles Mount For Former President (Forbes) Trump To Testify July 15 In New York Fraud Investigation (Forbes) Follow me on Twitter .

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