A New York judge has ruled that Donald Trump committed fraud for years while building the real estate empire that catapulted him to fame and the White House, the Associated Press reported.
Judge Arthur Engoron, who ruled in a civil suit brought by New York State Attorney General Letitia James, found that the former president and his company defrauded banks, insurers and other institutions by greatly overstating the company’s assets and overstating its net worth Trump‘s status in documents used in closing deals and securing financing.
Engoron ordered that some of Trump‘s business licenses be revoked as a penalty that makes it difficult or impossible to do business in New York, and said he would appoint an independent monitor to monitor the activities of the Trump Organization.
In his ruling, Judge Engoron ruled that Donald Trump, who dreams of retaking the White House in 2024, and his sons Donald Trump Jr. and Eric Trump, executive vice presidents of the Trump Organization, were “responsible” for “repeated violations” of the law, reports AFP.
He added that documents presented by the New York attorney general “clearly” show “fraudulent valuations” of the group’s assets – a host of companies ranging from residential properties to luxury hotels and golf clubs.
Letitia James accuses the billionaire Republican and his children of “inflating” those assets by billions of dollars to get, among other things, better loans from banks between 2011 and 2021.
