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Donald Trump, former US president, Republican, has committed ‘fraud’ while building his real estate empire, says New York judge, Arthur Engoron in a New York civil case.
The ruling against Trump comes as part of a civil lawsuit brought by New York’s attorney general, Letitia James.
The New York AG accuses Trump and the Trump Organization of repeatedly deceiving banks, insurers, and others by overvaluing assets and exaggerating Trump’s net worth on financial documents.
The lawsuit alleges that Trump inflated his net worth by as much as $2.23 billion to secure better terms on bank loans and insurance.
Assets with inflated values include Mar-a-Lago in Florida, Trump’s penthouse in Trump Tower, and various office buildings and golf courses.
The judge’s ruling rejected Trump’s bid to dismiss the lawsuit, and he granted sanctions against Trump’s legal team for making repetitive arguments.
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The non-jury trial on this matter is set to begin on October 2, with James seeking $250 million in penalties and a ban on Trump doing business in New York.
Trump is currently facing multiple legal challenges, including 91 criminal charges under four indictments and a defamation trial related to sexual assault allegations by E. Jean Carroll.
