Donald Trump and his family business were found liable for fraud Tuesday in the state attorney general’s civil lawsuit, Letitia James, who accused the former president of USA of illegally inflating his assets and net worth.
The decision was issued by the judge Arthur Engoron of the state court of NY a Manhattan.
James sued Trump in September 2022, accusing him and the Trump Organization of lying for a decade about the value of his assets and net worth to obtain better terms on bank loans and insurance.
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Donald Trump, presidential candidate for the United States elections.
Trump was held responsible for fraud
In his decision, Judge Engoron estimates that Trump and his two sons, executive vice presidents of Trump Organization, They are “responsible” for “continued violations” of the law.
Added to this is that the documents provided by the attorney general “clearly” show Donald Trump’s “fraudulent evaluations” of the assets of the group, which operates in the residential real estate, hotel and golf course sectors.
The New York state attorney general accuses the Republican billionaire and his children of having “inflated” their assets by billions of dollars to obtain advantageous bank loans or reduce their taxes from 2011 to 2021.
The motives
The prosecutor pointed out that Trump inflated his net worth by up to $2.23 billionand to an extent up to US$3.6 billion dollarsin annual financial statements delivered to banks and insurers.
In addition, he noted that among the assets whose value was inflated were Trump’s estate in Mar-a-Lago (Florida), his penthouse in Trump Tower in Manhattan and several office complexes and golf courses.
2023-09-26 21:22:00
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