Judge Arthur Engoron ruled yesterday that former US President Donald Trump committed fraud by inflating his assets and net worth to obtain loans on more favorable terms. The decision is a setback for Trump before the start of the trial in the case, scheduled for Monday, 2.
The trial will now only determine the size of the compensation. Attorney General Letitia James is seeking a fine of about $250 million for the former president. Another possible punishment is for the family to lose control of the Trump Organization.
Letitia claims that Trump inflated the value of his properties by US$2.2 billion between 2011 and 2021, including the period in which he occupied the White House, from 2017 to 2021. The objective was to obtain cheaper loans. The same properties had lower values when paying taxes or insurance policies
Prejudice
In his ruling, Engoron wrote that the case documents “clearly contain fraudulent appraisals.” The decision determines one of the biggest punishments for Trump so far: the cancellation of commercial certificates that allow the operation of some of his properties.
The judge’s order does not dissolve the entire Trump Organization, but it is expected to end its control over some iconic properties, such as 40 Wall Street and the golf club in Westchester County. Trump could also lose control of other properties in New York, including Trump Tower, although this could still drag on for a few months in court.
The judge also imposed sanctions on Trump’s lawyers for making arguments he had previously rejected, ordering each of them to pay $7,500 in fines. “Repeating these arguments was indefensible,” Engoron said.
The former president described the case as “ridiculous”. “It’s like the rest of the electoral interference cases I’m the subject of, led by a racist black prosecutor,” he said, in reference to Letitia.
Estadão Content
The post Judge rules that Trump committed fraud by inflating the value of his assets appeared first in Jornal de Brasília.
Source link
THE NAIS IS OFFICIAL EDITOR ON NAIS NEWS