NEW YORK — A judge has ruled that Donald Trump committed fraud for years as he built the real estate empire that catapulted him to fame and the White House.
Judge Arthur Engoron, who ruled Tuesday on a civil lawsuit filed by New York Attorney General Letitia James, determined that the former president and his company deceived banks, insurers and other entities by massively overstating their assets and exaggerating their assets. net in the documentation used to close agreements and obtain financing.
The decision, announced days before the start of a bench trial in Prosecutor James’ lawsuit, is the most significant setback to date for Trump’s image as a real estate mogul.
Beyond boasting about his wealth, Trump, his company and his top executives repeatedly lied about it in their annual financial statements, reaping rewards such as favorable loan terms and lower insurance premiums, according to Engoron.
Those tactics crossed a line and violated the law, the judge asserted, rejecting Trump’s argument that a disclaimer clause in the financial statements absolved him of any wrongdoing.
The Manhattan District Attorney’s Office had considered the possibility of pursuing a criminal case for the same conduct, but declined to do so, leaving James the possibility of suing Trump and requesting sanctions that could affect his and his family’s ability to do business. in the state.
Engoron’s ruling, in a phase of the case known as summary judgment, resolves the main allegation in James’ suit, but six others remain.
Engoron plans to hold a bench trial starting Oct. 2 before deciding on those charges and any sanctions it may impose. James has called for $250 million in fines and a ban on Trump doing business in his home state of New York. The trial could last until December, Engoron has said.
2023-09-27 00:55:31
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