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Court finds Donald Trump guilty of fraud – Reuters

The New York Attorney General had sued the former US president and the Trump Organization in September for inflating his net worth

A New York State civil court has found former US president Donald Trump and his family business liable for illegally inflating his net worth, Justice Arthur Engoron revealed on Tuesday.

State Attorney General Letitia James had sued Trump and the Trump Organization last September, claiming he had lied for a decade about his net worth. The reality TV star had inflated his assets by between $2.23 and $3.6 billion in order to secure favorable terms on bank loans, insurance, and other financial resources.

Trump’s Mar-a-Lago estate in Florida, his Trump Tower penthouse, multiple golf courses and office buildings were among the assets whose value he inflated, the attorney general insisted. Justice Engoron backed James’ claims that the value of several properties had been exaggerated and dismissed the Republican presidential hopeful’s defense as “wholly without basis in law or fact.”


September 27, 2023 at 02:33AM

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