New York judge declares Trump commits fraud acts for years

2023-09-27 02:11:01

(MENAFN) In a legal case brought by the office of state Attorney General Letitia James, a New York judge found on Tuesday that previous US Leader Donald Trump as well as his company conducted persistent fraud for years.

Trump, his company, in addition to his eldest sons used "fraudulent valuations" of assets to deceive banks into giving them better loan and insurance terms, according to New York Supreme Court Judge Arthur Engoron.

The judge promptly revoked all of Trump's and his co-defendants' company licenses in New York and mandated that they submit no more than three independent receiver recommendations for the limited liability firms that were revoked within ten days.

Additionally, Engoron ruled that five of Trump's attorneys must each pay USD7,500 within 30 days for presenting baseless claims in court.

Donald Trump, his sons Eric and Donald Trump Jr., former Trump Organization controller Jeffrey McConney, former Trump Organization chief financial officer Allen Weisselberg, and corporate organizations are among the accused.

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