Donald Trump committed fraud by inflating the value of his real estate and financial assets, a New York judge ruled on Tuesday.
Judge Arthur Engoron’s decision is a setback for the former president ahead of the trial in the case, which starts on Monday.
New York Attorney General Letitia James has filed a civil lawsuit against Trump and his two eldest children, accusing them of reporting “grossly inflated” figures to banks and insurance companies to secure loans and insurance coverage.
The former president of the United States is accused of overvaluing his assets by up to 2.2 billion dollars (two billion euros).
This is considered a major victory for New York’s attorney general in her civil case against Trump.
The New York City Attorney General’s Office, led by Letitia James, initiated this lawsuit in late 2022, accusing Trump, his company (the Trump Organization), his eldest sons Donald Jr. and Eric, and several associates of inflating their assets – around 2.2%. billion dollars in one year – to obtain tax and loan benefits.
The Public Prosecution Service is demanding that the defendants pay a fine of $250 million [228 milhões de euros] in financial benefits and also that their ability to do business in New York is limited, which would be a serious blow to their income.
Source: DN
