A sitting court in New York has ruled that Donald Trump and Sons as fraudsters.
The ruling was declared by a New York judge, Arthur Engoron, who delivered the ruling, cancelled the Trump Organization’s business certification, saying the Trumps provided false financial statements for roughly a decade.
Two New York properties are part of the lawsuit, the commercial tower at 40 Wall Street and the Trump family compound at Seven Springs.
Engoron’s ruling came days before the civil case involving the New York attorney general’s office and the former president was set to go to trial.
The judge granted Attorney General Letitia James’ motion for summary judgment, finding Trump, his sons, and others to be liable as a matter of law for persistent violations of New York state law.
The decision is a blow to Trump and a complete rejection of his arguments that he didn’t inflate the values of his golf courses, hotels, and homes at Mar-a-Lago and Seven Springs on financial statements that were repeatedly used in business.
James said in a statement released on Tuesday that the judge ruled in their favour and found that Donald Trump and the Trump Organization engaged in years of financial fraud.
The attorney general has sought $250 million in damages, a ban on the Trumps from serving as officers of a business in New York, and to stop the company from engaging in business transactions for five years.
Engoron cancelled the business certifications of the Trump entities that are defendants in the case, including the Trump Organization.
Two New York properties are part of the lawsuit, the commercial tower at 40 Wall Street and the Trump family compound at Seven Springs
