(ConservativeHub.com) – On Tuesday, September 26, a New York judge handed a major loss to former President Donald Trump in a civil fraud case, which took away his control over some of his properties.
The Judge determined that state Attorney General Letitia James (D) had been successful in proving the main elements of her $250,000 fraud case which helped narrow the scope of the trial. According to the decision, Trump, his adult sons (Donald Trump Jr. and Eric Trump), and their businesses are liable for fraud. The lawsuit by James was filed last September. The Trump family has maintained that they have done nothing wrong and that they would be appealing the case.
The decision by Justice Arthur Engoron states that according to the evidence, Trump deflated and highly inflated the value of his assets in order to gain access to more beneficial loan terms. One such valuation concerned Trump’s residence at Trump Tower. Engoron claimed that Trump Tower had been overvalued at between $114 million and $207 million. The judge said this discrepancy in the valuation is considered fraud, as the real estate developer had for years overvalued the worth of his living spaces.
Similarly, Engoron stated that the price of Trump Park Avenue had also been inflated and that the value of his units was not subject to the rent control regime followed by the city.
Trump was due in court on Monday, October 2 for the beginning of his fraud trial. According to Insider, Trump is avoiding a deposition by showing up in court.
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