Donald Trump “repeatedly” misrepresented his wealth by hundreds of millions of dollars to banks and insurers, a New York judge has ruled.
The decision resolves the key claim made by New York’s attorney general in her civil lawsuit against the former president.
“The documents here clearly contain fraudulent valuations that defendants used in business,” the judge wrote.
“The documents here clearly contain fraudulent valuations that defendants used in business,” the judge wrote.
An attorney for Mr Trump called the judge’s decision “a miscarriage of justice” in a statement on Tuesday evening.
Attorney General Letitia James sued Mr Trump last September, accusing him, his two adult sons and the Trump Organization of lying about his net worth and asset values between 2011 and 2021.
Ms James claimed the defendants issued false business records and financial statements in order to get better terms on bank loans and insurance deals, and to pay less tax.
In a trial that will now resolve six remaining claims in her suit, she will seek $250m in penalties and a ban on Mr Trump doing business in his home state.
The non-jury trial is scheduled to begin 2 October and last until at least December.
Donald Trump “repeatedly” misrepresented his wealth by hundreds of millions of dollars to banks and insurers, a New York judge has ruled.
“The documents here clearly contain fraudulent valuations that defendants used in business,” the judge wrote.
The decision resolves the key claim made by New York’s attorney general in her civil lawsuit against the former president.
An attorney for Mr Trump called the judge’s decision “a miscarriage of justice” in a statement on Tuesday evening.
“The documents here clearly contain fraudulent valuations that defendants used in business,” the judge wrote.
“The documents here clearly contain fraudulent valuations that defendants used in business,” the judge wrote.
An attorney for Mr Trump called the judge’s decision “a miscarriage of justice” in a statement on Tuesday evening.
Attorney General Letitia James sued Mr Trump last September, accusing him, his two adult sons and the Trump Organization of lying about his net worth and asset values between 2011 and 2021.
Ms James claimed the defendants issued false business records and financial statements in order to get better terms on bank loans and insurance deals, and to pay less tax.
In a trial that will now resolve six remaining claims in her suit, she will seek $250m in penalties and a ban on Mr Trump doing business in his home state.
The non-jury trial is scheduled to begin 2 October and last until at least December.
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