US Court Rules that Trump Engaged in Fraudulent Practices to Inflate Net Worth and Asset Values
Donald Trump committed fraud for years while building the real estate empire that catapulted him to fame and the White House, a court has ruled.
Judge Arthur Engoron found that the former president and his company deceived banks and insurers by massively overvaluing assets and exaggerating his net worth on paperwork used in making deals and securing financing.
The ruling came after a civil lawsuit brought by New York’s attorney general.
The judge found Trump, his company, and key executives repeatedly lied about his wealth on annual financial statements, resulting in rewards including favourable loan terms and lower insurance premiums.
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