Donald Trump Found Liable For Defrauding Banks, New York Judge Rules
deadline.comFormer President Donald Trump was found liable for defrauding banks, as a New York judge ruled that he and his companies overvalued assets and his net worth as he sought financing.
The ruling from New York Judge Arthur Engoron — read the decision — was in a case brought by New York Attorney General Letitia James.
She filed a civil fraud lawsuit last year against Trump, his companies and two of his children. James alleged a scheme over 10 years to engage in fraudulent practices that benefited the Trumps and the company to the tune of $250 million.
Engoron wrote that “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.
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