Wednesday, September 27, 2023

Five key takeaways from Donald Trump’s financial fraud case ruling

A New York judge ruled Tuesday that Donald Trump committed financial fraud by overstating the value of his assets to broker deals and obtain financing.

Judge Arthur Engoron ruled Tuesday that the former president and his company deceived banks, insurers and others by massively overvaluing his assets and exaggerating his net worth on paperwork used in making deals and securing financing.

The ruling is an acceleration of the case the New York attorney general Letitia James has been building against Trump since 2019, that the former president fudged financial statements and inflated his net worth up to $2.2bn more than the actual figure.

In a dramatic step just days before the trial is set to start, New York supreme court justice Arthur Engoron issued a partial ruling largely agreeing with James. He also ordered the cancellation of New York business certificates of all companies related to Trump and his two sons, Donald Trump Jr and Eric Trump, making it difficult for Trump to continue running his real estate business in the state.

1 comment :

  1. Can he have a presidential suite while in prison?


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