Judge: Trump committed fraud by inflating value of assets

NEW YORK, Sept 27 — Donald Trump and his sons Eric and Don Jr committed fraud by inflating the value of the real estate and financial assets of the Trump Organization for years,...

NEW YORK, Sept 27 — Donald Trump and his sons Eric and Don Jr committed fraud by inflating the value of the real estate and financial assets of the Trump Organization for years, a New York judge ruled yesterday.

Trump’s lawyers had asked the judge to throw out the case ahead of the trial by granting what is known as a summary judgment in his favour. James is seeking US$250 million in penalties and the removal of Trump and his sons from management of the family empire, the Trump Organization. James has alleged that the overvaluation of Trump’s assets was between US$1.9 billion and US$3.6 billion per year.In his ruling, Engoron accused Trump, who gave a sworn deposition in the case, and his attorneys of “reliance on bogus arguments”.

“A discrepancy of this order of magnitude, by a real estate developer sizing up his own living space of decades, can only be considered fraud,” the judge said.

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