Judge ordered cancellation of certificates that let Trump businesses operate in New York; Detroit visit comes just ahead of Republican debate
committed fraud for years while building the real estate empire that catapulted him to fame and the White House., routinely and repeatedly deceived banks, insurers and others by massively overvaluing assets and exaggerating his net worth on paperwork.days before the start of a non-jury trial that will hear accusations that Trump, and the Trump Organization, lied for a decade about asset values and his net worth to get better terms on bank loans and insurance.
James has said Trump had effectively engaged in a “bait and switch” operation, inflating his net worth by as much as $2.23bn, and by one measure as much as $3.6bn, on annual financial statements given to banks and insurers. Assets whose values were inflated include Trump’s Mar-a-Lago estate in Florida, his penthouse apartment in Manhattan’s Trump Tower, and various office buildings and golf courses, James said in the lawsuit filed in September 2022.
In his ruling, the judge said James had established liability for false valuations of several properties, Mar-a-Lago and the penthouse. He wrote: In defendants’ world: rent regulated apartments are worth the same as unregulated apartments; restricted land is worth the same as unrestricted land; restrictions can evaporate into thin air; a disclaimer by one party casting responsibility on another party exonerates the other party’s lies. That is a is a fantasy world, not the real world.
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