New York Attorney General Letitia James accused Trump, his sons Don Jr. and Eric, the Trump Organization, and other company executives of fraudulently inflating the value of various real estate assets to get more favorable terms on bank loans. The judge presiding over that trial, Arthur Engoron, determined in September that Trump indeed committed fraud and ordered that all Trump’s New York business certificates be canceled, making it nearly impossible to do business in the state and effectively killing the Trump Organization.
But even though Trump isn’t worth as much as he claims, because his sworn statements put his value so high, he could end up owing Carroll a massive amount in damages. Her minimum of $10 million is already on the low end. Carroll’s expert witness Ashlee Humphreys, a Northwestern University marketing professor who analyzes social media trends, testified last week that the price to repair the harm caused by Trump’s defamatory comments could be as high as $12.1 million. And that doesn’t even include punitive damages.
Trump already owes Carroll $5 million in damages after a jury in May unanimously found him liable for sexual abuse and battery against Carroll in the mid-1990s and for defaming her in 2022 while denying the assault.