Banks barred from concealing Trump docs in $250M New York state lawsuit: report

A New York State Supreme Court judge on Tuesday ruled that banks and insurance companies can’t conceal documents in connection with a lawsuit that alleges the Trump Organization inflated assets, The Daily Beast reports.

Judge Arthur F. Engoron’s ruling follows efforts by several firms to hide documents that show how they “unwittingly” became part of the alleged scheme, the report said.

The records are central to New York State Attorney General Letitia James’ $250 million lawsuit against the Trumps that alleges that the “estate mogul and the family members he made executives got away with minimal scrutiny.”

POLL: Should Trump be allowed to run for office?

Jose Pagliery writes for The Beast that “The former president is just 34 days away from heading to civil trial in New York City, where his personal finances will be put under a microscope while the state’s AG tries to bleed his corporation dry over the way it routinely overstated its holdings on official documents.”

Zurich American Insurance Company, WSFS Bank, Ladder Capital are among the companies who’d asked the judge to seal the documents.

Pagliery notes that "‘Zurich, for its part, claimed some documents—which had already made their way into the court docket as evidence—' contain highly-sensitive, non-public proprietary information about Zurich’s insurance business, including Zurich’s highly protected underwriting guidelines’ and ‘competitively sensitive financial information.’”

Read the full article right here.