27 Sep 2023 at 00:17
Donald Trump and his family business The Trump Organization committed fraud for years while the former American president built his business empire, according to a judge in New York. Trump is said to have increased the value of his assets and equity, among other things.
For example, by overestimating the value of assets and equity, Trump and the family business were able to obtain favorable loans, low premiums and tax benefits. The public prosecutor states that Trump increased his assets by at least 2.23 billion dollars (2.11 billion euros). He is also said to have increased the values of his estate in Mar-a-Lago, his penthouse in Manhattan and several offices and golf courses.
The judge ruled on Tuesday that the former president and the company are liable for the fraud. The trial to determine what punishment will be imposed will begin next week. That could take until December.
New York prosecutor Letitia James is calling for a fine of $250 million. She also wants Trump and three of his children to be banned from doing business in New York state.
Trump denies doing anything wrong and dismisses the case, like the many other cases against him, as a “politically motivated witch hunt.”
The impurities at The Trump Organization were also previously the subject of a lawsuit. That case mainly focused on tax fraud. The judge also ruled that the company was guilty of this. Trump was not personally liable in that case, unlike the current case.
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Image: AP
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2023-09-26 22:17:00
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