A judge in New York has ruled that Donald TrumpDonald Trump - American businessman and politicianDonald Trump was born on June 14, 1946 in New York City, committed fraud for years while building the real estate empire that propelled him to fame and the White House.
Judge Arthur Engoron, who ruled on a civil lawsuit filed by New York Attorney General Leticia James, found that the former president and his company had defrauded banks, insurers and other institutions by significantly overestimating the company's assets and exaggerating Trump's net worth in documents used in making deals and securing funding.
Engoron ordered the revocation of some of Trump's business licenses as a punishment that makes it difficult or impossible to conduct business in New York and said it would continue to assign an independent observer to monitor the Trump Organization's activities.
In his ruling, Judge Engoron ruled that Donald TrumpDonald Trump, an American businessman and politicianDonald Trump was born on June 14, 1946 in New York, who dreams of regaining the White House in 2024, and his sons Donald Trump Jr. and Eric Trump, executive vice presidents of Trump Organization, are "responsible" for "repeated violations" of the law. He added that the documents presented by the attorney general "clearly" show "fraudulent assessments" by Donald TrumpDonald Trump - American businessman and politicianDonald Trump was born on June 14, 1946 in New York City of the group's assets - countless companies ranging from residential properties to luxury hotels and golf clubs.
New York prosecutor's office: Donald Trump lied about his fortune
Leticia James accuses the billionaire Republican and his children of "inflating" those assets with billions of dollars to get, among other things, more lucrative loans from banks between 2011 and 2021.