Donald Trump and his company deceived banks, insurers and others by massively overvaluing his assets when making deals and securing financing, a judge has ruled.
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.
Beyond mere bragging about his riches, Trump, his company and key executives repeatedly lied about them on his annual financial statements, reaping rewards such as favourable loan terms and lower insurance premiums, Engoron found. Manhattan prosecutors had looked into bringing a criminal case over the same conduct but declined to do so, leaving James to sue Trump and seek penalties that could disrupt his and his family’s ability to do business in the state.
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