Trump Fraud Appeal Spotlights Underwriting Irregularities

Trump Fraud Appeal Spotlights Underwriting Irregularities

April 4, 2024, Law360

Cléa Liquard’s commentary was included in a Law360 article covering former President Donald Trump's ongoing challenge to a $465 million civil fraud judgment for a decadelong valuation fraud conspiracy that raises questions about insurance procedures, how underwriters price risk, and who is harmed by the alleged fraud perpetrated by the former president and his associates. The article goes on to discuss Trump’s appeal of New York Supreme Court Justice Arthur F. Engoron's February judgment that Trump and his Trump Organization associates intentionally used false financial statements and business records to defraud insurers and banks.

Cléa said that Justice Engoron's assessment of witness credibility is less vulnerable to challenge than the extent of the conspiracy charge, given how few of the accused individuals directly participated in the alleged insurance scheme. “It's based more on the idea that they're part of this overall organization which is engaged in business misconduct, and that might be something that the Appellate Division questions, as a legal matter, whether that's sufficient for conspiracy,” she said.