Judge rules Donald Trump defrauded banks, insurers as he built real estate empire
Judge rules Donald Trump defrauded banks, insurers as he built real estate empire
A judge has ruled that Donald Trump committed fraud for years while building the real estate empire that catapulted him to fame and the White House.
Its amazing that he was able to get away with it for so long. Times are changing, accountability is coming. No doubt he will challenge it but, after that... then what?
I bet he and his family will lose so much as to "only" millionaires and be forced to move to Florida so they can continue their shady business practices. But, it may be a bit harder for them to deal with big banks and such since since now they're definitely known to lie about nearly everything. Thinking about it, Deutsch Bank probably won't care and they'll be able to continue the grift with them. Who knows, maybe we'll see Jared or Ivanka or Don Jr try their hand at politics. Imagine: Jarevanka 2024, the first husband and wife team to run for the office of the president. That would be nuts but I could see them doing it.
All of them were probably mostly speculating with other people's money ...
I'd prefer to refer to them as Vankared...
He would have continued getting away with it if he'd never run for President.
Man, that ruling is scathing. Judge has had it with these two-bit lawyers.
In response to both OAG's request for a preliminary injunction and to defendants' motions to dismiss, this Court rejected every one of the aforementioned arguments. In rejecting such arguments for the second time, this Court cautioned that "sophisticated counsel should have known better." (The court even went so far as to caution that the "arguments were borderline frivolous even the first time defendants made them." […]) […] However, the Court declined to impose sanctions, believing it had "made its point."
Apparently, the point was not received.
One would not know from reading defendants' papers that this Court has already twice ruled against these arguments, called them frivolous, and twice been affirmed by the first department.
This just goes on and on. The judge devotes like eight pages to taking apart defendants' counsel. The next section is, amusingly, titled "Arguments Defendants Raise for the First Time."
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NEW YORK (AP) — A judge has ruled that Donald Trump committed fraud for years while building the real estate empire that catapulted him to fame and the White House.
Judge Arthur Engoron, ruling Tuesday in a civil lawsuit brought by New York’s attorney general, found that the former president and his company 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 decision, days before the start of a non-jury trial in Attorney General Letitia James’ lawsuit, is the strongest repudiation yet of Trump’s carefully coiffed image as a wealthy and shrewd real estate mogul turned political powerhouse.
Beyond mere bragging about his riches, Trump, his company and key executives repeatedly lied about them on his annual financial statements, reaping rewards such as favorable loan terms and lower insurance premiums, Engoron found.
Those tactics crossed a line and violated the law, the judge said, rejecting Trump’s contention that a disclaimer on the financial statements absolved him of any wrongdoing.
Manhattan prosecutors had looked into bringing a criminal case over the same conduct but declined to do so, leaving James to sue Trump and seek penalties that could disrupt his and his family’s ability to do business in the state.
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