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Trump lied about real worth to secure loans, rules judge
Evening Standard
|September 27, 2023
DONALD TRUMP committed fraud with "fantasy" valuations of his property empire as he rose to prominence as a business tycoon and ultimately president of the United States, a judge in New York has ruled.
Judge Arthur Engoron found that Trump and his company had deceived banks, insurers and others by massively overvaluing his assets and exaggerating his net worth on paperwork used in making deals and securing financing.
The former president could lose business licences as a punishment after the damaging ruling, which comes on the eve of a civil trial examining his wealth and property dealings.
Trump, who is leading the field in the race to be the 2024 Republican presidential candidate, responded on his Truth Social site with an attack on the judge and called it "a very sad day for the New York State System of Justice".
"Today's Ruling about a Company that has done a magnificent job for New York State fails to acknowledge the fact that Murder and all other forms of Violent Crime have reached record levels in New York State" he wrote.
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