Donald Trump “Repeatedly” Violated Fraud Law, NY Judge Rules
A judge ruled that Donald Trump has been found liable of “repeatedly” committing fraud for years in his New York civil case. According to the Associated Press, the former president was found liable for defrauding banks and overvaluing his assets.
NY Judge Arthur Engoron has ordered the cancelation of Trump’s business certificates. The judge also demanded that a “receiver” be appointed to disband Trump’s LLCs. As a result, the controversial politician could potentially lose control of his New York-based businesses. These properties include office buildings, golf clubs, and the infamous Trump Tower.
“The documents here clearly contain fraudulent valuations that defendants used in business, satisfying [the attorney general’s] burden to establish liability as a matter of law against defendants,” Engoron’s ruling reads. “Defendants respond that: the documents do not say what they say; that there is no such thing as ‘objective’ value; and that, essentially, the court should not believe its own eyes.”
Judge Engoron also called out Trump’s legal defense team, stating that their arguments weren’t based in reality. “[Trump’s defenses] are wholly without basis in law or fact,” he continued. “[Trump] seems to imply that the numbers cannot be inflated because he could find a ‘buyer from Saudi Arabia’ to pay any price he suggests.”
In conclusion, Judge Engoron sided with New York Attorney General Letitia James’ assertion that Trump exaggerated his financial records. He deduced that James’ suit against the combative figure found “conclusive evidence” that he committed fraud in inflating his net worth by anywhere between $812 million and $2.2 billion.
In response to the New York court ruling, Donald Trump’s attorney, Chris Kise, called the findings “outrageous,” Courthouse News Service reports.
“Today’s outrageous decision is completely unhinged from the facts and governing law. The Court has ignored fully the Appellate Division mandate and basic legal, accounting and business principles,” he said in an official statement. “[The court] essentially substituted its own judgment for that of nationally recognized experts from the NYU Stern School of Business and beyond.”
Letitia James previously filed a civil fraud lawsuit against Trump, his companies, and two of his children. In James’ case, she alleged that Trump’s defrauding machinations have persisted over a decade, where he allegedly engaged in deceitful business practices. Due to his alleged fraudulent activity, Trump-adjacent companies raked in about $250 million.
A trial is still set to begin on Oct. 2, 2023. The trial will decide whether or not Trump and his business partners will have to pay the $250 million in monetary damages James is seeking.
Trump’s lawyers plan to appeal the judge’s ruling.
More from VIBE.com