Trump Ruled Liable for Fraud in NY Case

A New York judge has determined that Donald Trump, former U.S. President, committed fraud by misrepresenting his wealth by hundreds of millions.

This decision, emerging from a civil case, indicates that Mr. Trump defrauded banks and insurers for several years, a significant setback that may obstruct his business operations in New York.

New York Attorney General, Letitia James, had sued Trump and his family business last year, alleging that they inflated their property values by over $2bn (£1.65bn) for business advantages, including reduced taxes and favorable loan terms.

The consequential ruling was delivered by Judge Arthur Engoron, who rejected the defense’s argument that the valuation discrepancies were subjective. Highlighting the magnitude of discrepancies, the judge deemed them “clearly fraudulent.” As a result of this judgment, some of Trump’s business certificates in New York were annulled, threatening his control over notable properties like the Trump Tower.

The former president refuted any misconduct, dismissing the case as a “political witch hunt” and criticizing the judge for political bias. Despite these assertions, Trump faces a trial beginning October 2, where the focus will be on determining penalties, with Ms. James seeking $250m and a business ban for Trump in New York.

With Trump aiming for a 2024 presidential return, this legal battle adds to several others he is currently embroiled in.