Judge Rules Trump Liable for Fraud in New York Civil Lawsuit

Contact Your Elected Officials
The Epoch Times Header

A New York state judge ruled that former President Donald Trump and his company are liable for fraud in a lawsuit that was brought by the New York Attorney General’s office.

Judge Arthur Engoron, issuing a ruling Tuesday in a civil lawsuit brought by Attorney General Letitia James, found that the former president and the Trump Organization deceived banks, insurers, and others by allegedly overvaluing his assets and exaggerating his net worth on paperwork used in making deals and securing financing.

The decision, which comes just days before the start of a non-jury trial in the lawsuit, canceled President Trump’s business certificates. Within 10 days, the former president and other defendants must recommend three independent reviewers to manage the dissolution of the corporations, including the Trump Organization.

Judge Engoron said Ms. James, a Democrat, had established liability for false valuations of several properties, including Mar-a-Lago and others, and claimed the former president made comments in a deposition that were “wholly without basis in law or fact.”

“He claims that if the values of the property have gone up in the years since the (financial statements) were submitted, then the numbers were not inflated at that time,” the judge wrote on Tuesday. “He also seems to imply that the numbers cannot be inflated because he could find a ‘buyer from Saudi Arabia’ to pay any price he suggests.”

A trial has been slated for Oct. 2, and could last well into December.

Tuesday’s order also ordered sanctions of $7,500 for each attorney who had represented President Trump and the co-defendants, alleging they made previously rejected and frivolous claims in court documents.

“Defendants’ arguments that the factual record developed in discovery changed the landscape under which standing should be viewed is legally preposterous,” the judge also wrote (pdf). “The best that defendants could muster at oral argument was to contend (incorrectly) that plaintiff cannot sue because the subject transactions were between private entities, and nobody lost money.”

Ms. James sued Trump in September 2022, accusing him and the Trump Organization of lying for a decade about asset values and his net worth to get better terms on bank loans and insurance. She alleged that Trump inflated his net worth by as much as $2.23 billion, and by one measure as much as $3.6 billion, on annual financial statements given to banks and insurers.

The former president and his attorneys, however, have denied wrongdoing in the case. Several days ago, his team said that Ms. James’s office has no case during a hearing before Judge Engoron.

By Jack Phillips

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Why Democracy, not Caesar, is the answer to our problems

Caesar-style leadership wins quick public support but inevitably sparks passionate resistance, conflict, bloodshed, and lasting social destabilization.

WATCH: Barack Obama Foments Color Revolutions in Eastern Europe

Obama astroturfed “pro-democracy” movements in Poland and Hungary to pressure their govts into accepting mass migration and social engineering.

J.B. Pritzker Puts the ILLeagals in ILLinois

Illinois Gov. J.B. Pritzker, once a California native, has revived the old “ILL” abbreviation—this time in his promotion of ILLegal aliens.

James Franklin’s contract fallout

Penn State’s decision to fire head coach James Franklin after a disappointing 22–21 home loss to Northwestern will cost an estimated $56 million buyout. 

Trump’s Middle East Trip Led to Historic Breakthroughs

Trump’s bold, unconventional strategy helped end the Israel-Hamas war and set the stage for a more stable, prosperous Middle East.

Trump Commutes Sentence of Former Rep. George Santos

President Trump commuted ex-Rep. George Santos’s seven-year prison sentence for fraud and identity theft, ordering his immediate release.

Jack Smith Referred to DOJ for Misconduct Investigation and Possible Disbarment

Former special counsel Jack Smith was criminally referred to the DOJ by Republican lawmakers for alleged misconduct and possible disbarment.

AI Is a ‘Real and Mysterious Creature,’ Not a Predictable Machine, Anthropic Co-Founder Warns

Handling AI is like dealing with “a real and mysterious creature, not a predictable machine,” said Jack Clark, co-founder of Anthropic, at a Berkeley conference.

Trump Refiles $15 Billion Defamation Lawsuit Against New York Times After Court Dismissal

Trump refiled his $15 billion defamation lawsuit against The New York Times, Penguin Random House, and 3 reporters after judge dismissed the case.

Army Corps of Engineers to Pause $11 Billion in Projects During Shutdown: Vought

Russ Vought, director of the White House’s OMB, has added to the growing pile of federal projects paused during the government shutdown.

Trump Signs Executive Order Putting New Restrictions on Federal Hiring

Trump signed an executive order directing federal agencies to restrict hiring, with exceptions for immigration, security, and political appointees.

Trump Says He Has Authorized Covert CIA Operations in Venezuela

President Trump authorized covert CIA operations in Venezuela, expanding U.S. assets there to increase pressure on President Nicolás Maduro’s regime.

Trump Posthumously Awards Charlie Kirk the Presidential Medal of Freedom

President Trump posthumously awarded Charlie Kirk the Presidential Medal of Freedom in the White House Rose Garden on Oct 14, Charlie's birthday.
spot_img

Related Articles

Popular Categories

MAGA Business Central