Judge rules Donald Trump defrauded banks, insurers while building real estate empire
- 8 months ago
#Judgerules #DonaldTrump #defraudedbanks
Donald Trump committed years of while building the real estate empire that catapulted him to fame and the White House, a judge ruled Tuesday. Deciding on a civil lawsuit filed by the New York attorney general, Judge Arthur Engoron found that the former president company deceived banks, insurers others by overvaluing his assets exaggerating net worth on paperwork used to make deals secure financing. Engoron ordered some of Trump's business licenses revoked as punishment, making it difficult or impossible for Trump to do business in New York, and said the Trump Organization would continue to have an independent monitor overseeing its operations. READ Trump pleads not guilty in Georgia election overthrow case Former President Donald Trump speaks with reporters before leaving Hartsfield-Jackson Atlanta International Airport in Atlanta on Thursday, Aug. 24, 2023. Trump's spokesman did not immediately respond to a request for comment on the decision. Trump has long insisted he did nothing wrong. The decision, made days before the start of a non-jury trial in Attorney General Letitia James' case, is the strongest repudiation yet of Trump's carefully crafted as a wealthy and shrewd real estate mogul turned political powerhouse. Beyond bragging about his wealth, Engoron found that Trump, his company and its top executives repeatedly lied about them in their annual financial statements, reaping rewards such as favorable loan terms and lower insurance premiums. The judge said these tactics crossed line and violated law, rejecting Trump's claim that disclaimer in financial statements exonerated him of any wrongdoing. READ Surprising value of Trump's mugshot revealed How Trump's historic prison surrender came to light Manhattan prosecutors considered filing a criminal case for the same conduct but declined do so, leaving James to sue Trump and seek penalties that could impair his and his family's ability do business in the state. Engoron's decision, at what is known as a summary judgment phase of the case, resolved the core claim in James' case, but left six others. Engoron is scheduled to have a non-jury trial starting Oct. 2 before deciding on those allegations and any penalties he could impose. James is seeking a $250 million fine and a ban on Trump doing business in his home state, New York. Engoron said the trial could last until December. Former President Donald Trump follows his swing during the pro-am ahead of the LIV Golf Invitational. Trump's lawyers had asked the judge to dismiss the case, but he refused. They argue that James is not legally allowed to sue because there is no evidence that the public has been harmed by Trump's actions. They also argued that most of claims in the case were barred by statute of limitations. Engoron stated early in the lawsuit that he "absolutely denies" these allegations, equating them to "the time loop in the movie 'Groundhog Day'." James, Democrat, sued Trump and Trump Org
Donald Trump committed years of while building the real estate empire that catapulted him to fame and the White House, a judge ruled Tuesday. Deciding on a civil lawsuit filed by the New York attorney general, Judge Arthur Engoron found that the former president company deceived banks, insurers others by overvaluing his assets exaggerating net worth on paperwork used to make deals secure financing. Engoron ordered some of Trump's business licenses revoked as punishment, making it difficult or impossible for Trump to do business in New York, and said the Trump Organization would continue to have an independent monitor overseeing its operations. READ Trump pleads not guilty in Georgia election overthrow case Former President Donald Trump speaks with reporters before leaving Hartsfield-Jackson Atlanta International Airport in Atlanta on Thursday, Aug. 24, 2023. Trump's spokesman did not immediately respond to a request for comment on the decision. Trump has long insisted he did nothing wrong. The decision, made days before the start of a non-jury trial in Attorney General Letitia James' case, is the strongest repudiation yet of Trump's carefully crafted as a wealthy and shrewd real estate mogul turned political powerhouse. Beyond bragging about his wealth, Engoron found that Trump, his company and its top executives repeatedly lied about them in their annual financial statements, reaping rewards such as favorable loan terms and lower insurance premiums. The judge said these tactics crossed line and violated law, rejecting Trump's claim that disclaimer in financial statements exonerated him of any wrongdoing. READ Surprising value of Trump's mugshot revealed How Trump's historic prison surrender came to light Manhattan prosecutors considered filing a criminal case for the same conduct but declined do so, leaving James to sue Trump and seek penalties that could impair his and his family's ability do business in the state. Engoron's decision, at what is known as a summary judgment phase of the case, resolved the core claim in James' case, but left six others. Engoron is scheduled to have a non-jury trial starting Oct. 2 before deciding on those allegations and any penalties he could impose. James is seeking a $250 million fine and a ban on Trump doing business in his home state, New York. Engoron said the trial could last until December. Former President Donald Trump follows his swing during the pro-am ahead of the LIV Golf Invitational. Trump's lawyers had asked the judge to dismiss the case, but he refused. They argue that James is not legally allowed to sue because there is no evidence that the public has been harmed by Trump's actions. They also argued that most of claims in the case were barred by statute of limitations. Engoron stated early in the lawsuit that he "absolutely denies" these allegations, equating them to "the time loop in the movie 'Groundhog Day'." James, Democrat, sued Trump and Trump Org