The $250 million civil lawsuit filed by the New York attorney general alleges that former President Donald Trump and his adult sons exaggerated their business assets for years.
New York Judge Arthur Engoron said in his ruling that Trump lied on his financial statements and was able to get favorable loan terms and lower insurance premiums as a result.Trump and his two adult sons, Don Jr. and Eric, have denied any wrongdoing. Trump has accused James, a Democrat, of taking part in a partisan “witch hunt” against him.
Engoron in Tuesday’s ruling pointed to the claimed size of Trump’s New York apartment, among other issues. Trump submitted documents claiming it was 30,000 square feet, when it’s only around 11,000 square feet, which resulted in an overvaluation of between $114 million and $207 million, the judge wrote.
“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,” Engoron wrote.
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