A judge ruled Tuesday former President Donald Trump, as well as his company, committed fraud while building his real estate empire, according to The Associated Press (AP).
New York State’s Democratic Attorney General (AG) brought forth a lawsuit in September 2022 against Trump alleging he committed fraud while building his real estate business, according to The AP. Judge Arthur Engoron ruled Trump and his business had exaggerated his net worth and fudged his assets, which deceived banks and insurance companies during operations. (RELATED: Trump Optimistic About ‘Monumental Victory’ As He Slams COVID, Illegal Immigration, DOJ At South Dakota Rally)
The judge ruled the former president and his company lied on paperwork such as business statements which allowed them to profit off of favorable loan terms and lower insurance premiums, The AP reported. Engoron also ruled for some of Trump’s business licenses to be rescinded.
NEW: If I am reading this right, Judge Engoron has found that Donald Trump committed fraud and has ordered the cancellation of all of his New York business certificates and the dissolution of the Trump Organization. pic.twitter.com/k2nRcK3L37
— Andrew Feinberg (@AndrewFeinberg) September 26, 2023
Six other claims are detailed in the lawsuit brought forward by New York’s AG. Engoron is expected to decide on these claims after holding a non-jury trial on Oct. 2, The AP reported. The state’s AG is reportedly requesting the judge ban Trump from doing business in New York in addition to $250 million in penalties.
Trump has been indicted four times.
The most recent came in August after a grand jury ruled the former president and some aides should be indicted for their alleged efforts to overturn the result of the 2020 presidential election in Georgia. The other indictments surrounding Trump focus on charges relating to his alleged actions on Jan. 6, alleged hush money paid out to former porn star Stormy Daniels and documents kept at Mar-a-Lago.
Trump has previously said he would “absolutely” testify in the case revolving around the 30 charges brought against him for storing classified documents in his private residence at Mar-a-Lago.