Judge rules Trump committed fraud when building real estate firm
James had brought the suit, alleging that Trump had inflated the value of his assets by substantive margins on financial statements.
A New York Judge on Tuesday sided with New York Democratic Attorney General Letitia James in a civil fraud suit, determining that former President Donald Trump defrauded banks and insurers for years.
James had brought the suit, alleging that Trump had inflated the value of his assets by substantive margins on financial statements, the Associated Press reported. Judge Arthur Engoron issued the Tuesday ruling, which precedes an Oct. 2 trial on James's remaining claims.
Engoron determined that, in overstating the value of his asset and overall wealth, Trump was able to secure benefits from financial institutions such as low insurance premiums and advantageous loan terms.
James seeks $250 million in damages and an order barring Trump and his sons from holding leadership roles in New York-based firms. Engoron will not impose any penalties on Trump until the conclusion of the non-jury trial, which he expects could stretch into December of this year.
Trump, for his part, has contended that James is a biased prosecutor and one of a handful of such individuals bringing politically motivated cases against him, which he has dubbed the "fraud squad." Apart from James, that group includes Manhattan District Attorney Alvin Bragg, special counsel Jack Smith, and Fulton County District Attorney Fani Willis.
Collectively, Trump asserts that their myriad cases are part of a broader "witch hunt" designed to derail his 2024 bid for the White House.
Ben Whedon is an editor and reporter for Just the News. Follow him on X, formerly Twitter.