Donald Trump and his family’s companies were found guilty of fraud on Tuesday in a civil lawsuit filed by state Attorney General Letitia James that accuses the former US president of illegally inflating his assets and wealth, Reuters reported.
The decision was made by Judge Arthur Engoron of the New York State Court in Manhattan.
James sued Trump in September 2022, accusing him of lying about his assets and personal funds for a decade in order to get better terms for bank loans and insurance. Similar facts are attributed to Trump’s organization.
She said Trump inflated his fortune by $2.23 billion, and by one estimate, by $3.6 billion, in annual financial statements to banks and insurers.
The attorney general said Trump’s Mar-a-Lago estate in Florida, his luxury apartments in Trump Tower in Manhattan, and various office buildings and golf courses were among the assets that were overvalued.
Source: Hot News
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