Trump found liable for fraud in New York civil case

NEW YORK: Donald Trump and his family business were found liable for fraud on Tuesday by a New York judge in state attorney-general Letitia James’ civ...

Former president Donald Trump has been accused of lying about asset values and his net worth. REUTERSPIX: Donald Trump and his family business were found liable for fraud on Tuesday by a New York judge in state attorney-general Letitia James’ civil lawsuit accusing the former US president of illegally inflating his assets and net worth.

The attorney general has said Trump inflated his net worth by as much as US$2.23 billion, and by one measure as much as US$3.6 billion, on annual financial statements given to banks and insurers. The judge also chided Trump for offering defenses in a deposition that were “wholly without basis in law or fact.”

Trump has said the decision essentially gutted James’ lawsuit, while James has said Trump’s conduct reflected a series of “continuing wrongs” that she could prove at trial.

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