Judge Rules Trump Committed Fraud, Stripping Control of Key Properties (NYTimes)
The decision in a lawsuit that could go to trial next week
is a major win for Attorney General Letitia James, who
says former President Donald J. Trump overvalued his
holdings by as much as $2.2 billion.
A New York judge ruled on Tuesday that Donald J. Trump persistently committed fraud by inflating the value of his assets, and stripped the former president of control over some of his signature New York properties.
The decision by Justice Arthur F. Engoron is a major victory for Attorney General Letitia James in her lawsuit against Mr. Trump, effectively deciding that no trial was needed to determine that he had fraudulently secured favorable terms on loans and
insurance deals.
Ms. James has argued that Mr. Trump inflated the value of his properties by as much as $2.2 billion and is seeking a penalty of about $250 million in a trial scheduled to begin as early as Monday.
Justice Engoron wrote that the annual financial statements that Mr. Trump submitted to banks and insurance companies “clearly contain fraudulent valuations that defendants used in business.”
https://www.nytimes.com/2023/09/26/nyregion/trump-james-fraud-trial.html
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