Judge rules Donald Trump defrauded banks, insurers while building real estate empire

apnews.com

Judge rules Donald Trump defrauded banks, insurers while building real estate empire

apnews.com

Jordan Lund to

politics @lemmy.worldEnglish • 1 year ago

A judge has ruled that Donald Trump committed fraud for years while building the real estate empire that catapulted him to fame and the White House.

Key part of the article:

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

Engoron ordered that some of Trump’s business licenses be rescinded as punishment, making it difficult or impossible for them to do business in New York, and said he would continue to have an independent monitor oversee the Trump Organization’s operations.

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