A New York judge rules that Donald Trump has been committing fraud for many years, creating a real estate empire becoming his springboard to fame and the White House.
Judge Arthur Engoron ruled on a civil lawsuit brought by New York State Attorney General Letitia James. He found that the former president and his company defrauded banks, insurers and other institutions by significantly overstating the company’s assets, and that Trump abused his status in documents to make deals and obtain financing.
Engoron ordered the revocation of some of Trump’s business licences as a punishment that makes it difficult or impossible to manage business in New York. He also said he would appoint an independent monitor to oversee the Trump Organisation.
Judge Engoron accused the former president, as well as his sons Donald Trump Jr. and Eric Trump, of “repeated violations” of the law, according to AFP.
The judge cited documents provided by the New York State Attorney General showing “fraudulent valuations” of the group’s assets, from residential properties to luxury hotels and golf clubs.
Letitia James accuses the Republican candidate for the 2024 election and his children of “inflating” those assets by billions of dollars in order to obtain more favourable loans from banks between 2011 and 2021.
