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Trump committed fraud by inflating value of assets: judge

Trump committed fraud by inflating value of assets: judge

23 Sept 01:50 Key points summarised by AI
  • A New York judge ruled that Donald Trump and his sons Eric and Don Jr committed fraud by inflating the value of Trump Organization real estate and financial assets for years.
  • The ruling, a partial victory for Attorney General Letitia James, found Trump liable ahead of the civil trial and revoked the business licenses for some of the Trump Organization's New York properties.
  • James seeks $250 million in penalties and the removal of Trump and his sons from managing the family empire, alleging billions in fraudulent overvaluations to secure favorable loans and insurance.
  • The judge accused Trump and his attorneys of presenting a "fantasy world" of valuations, citing a grossly inflated square footage for Trump's Trump Tower apartment as a clear example of fraud.
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