NY Judge Rules Donald Trump Defrauded Banks, Insurers
He and his sons did this while building their real estate empire
On Tuesday, a judge ruled that former president Donald Trump committed fraud for years while building the real estate empire that catapulted him to fame and the White House, and he ordered some of the former president’s companies removed from his control and dissolved.
Judge Arthur Engoron, ruling in a civil lawsuit brought by New York Attorney General Letitia James, found that Trump, his sons 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 loans.
Engoron ordered that some of Trump's business licenses be rescinded as punishment, making it difficult or impossible for them to do business in New York, and said he would continue to have an independent monitor oversee Trump Organization operations.
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