Judge Says Trump Committed Fraud
Amid countless state and federal indictments, a judge recently ruled that former President Donald Trump committed fraud. What do you think?
From Daily Mail. Donald Trump has lashed out against a New York judge for ruling that he lied about his wealth for years and committed fraud by submitting false valuations to secure loans.
Judge Arthur Engoron ruled that Trump committed fraud for years while building the real estate empire that catapulted him to fame and the White House, after prosecutors charged he inflated property valuations with lenders and diminished them with tax authorities.
In reaction, the former president took to Truth Social to say it was ‘a very sad day for the New York State System of Justice’. …
The ruling Tuesday came in a civil lawsuit brought by [Attorney General Letitia] James, even as Trump faces multiple criminal indictments in multiple jurisdictions related to his election overturn effort and other matters.
She sued last year, claiming numerous acts of fraud. Lawyers representing Trump and his company, as well as his adult children, asked the judge to dismiss the suit through summary judgement.
James found that the former president and his company deceived banks, insurers and others by massively overvaluing his assets and exaggerating his net worth on paperwork used in making deals and securing financing.
She said he boosted valuations by up to $2 billion, inflating the value of signature assets including the Mar-a-Lago club where he now resides and his Manhattan penthouse apartment at Trump Tower. …
Beyond mere bragging about his riches, Trump, his company and key executives repeatedly lied about them on his annual financial statements, reaping rewards such as favorable loan terms and lower insurance premiums, Engoron found.
Those tactics crossed a line and violated the law, the judge said, rejecting Trump’s contention that a disclaimer on the financial statements absolved him of any wrongdoing.
Manhattan prosecutors had looked into bringing a criminal case over the same conduct but declined to do so, leaving James to sue Trump and seek penalties that could disrupt his and his family´s ability to do business in the state.
Engoron’s ruling, in a phase of the case known as summary judgment, resolves the key claim in James’ lawsuit, but six others remain.
Engoron is slated to hold a non-jury trial starting Oct. 2 before deciding on those claims and any punishments he may impose. James is seeking $250 million in penalties and a ban on Trump doing business in New York, his home state. The trial could last into December, Engoron has said. …
What do you think of this ruling? Share your thoughts, prayers, and scriptures below.
(Excerpt from Daily Mail. Photo Credit: Jeff Swensen/Getty Images)
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