Donald Trump Ruled To Have Committed Fraud By New York Judge
Donald Trump ruled to have committed fraud by a New York judge in a significant legal blow to former President. The ruling is part of a civil case brought against Trump and his family business, accusing them of defrauding banks and insurers for years.
Author:Suleman ShahReviewer:Han JuSep 28, 202311.8K Shares214.7K Views
Donald Trump ruled to have committed fraudby a New York judge in a significant legal blow to former President. The ruling is part of a civil case brought against Trump and his family business, accusing them of defrauding banks and insurers for years.
This decision, issued by Judge Arthur Engoron in the New York state court, could significantly impact Trump's ability to conduct business in the state and adds to his growing legal troubles.
Trump's Denial And Attorney General's Claims
New York Attorney General Letitia James had accused Trump, his two adult sons, and the Trump Organization of inflating the value of their properties by more than $2 billion to serve their business interests.
James claimed that they issued false records and financial statements to secure better loan terms, insurance deals, and tax benefits.
In response, Trump and the other defendants vehemently denied committing fraud and have consistently argued that they did nothing wrong.
Judge Engoron's scathing decision outlines the extent of Trump's misrepresentations.
Among the key findings, the judge determined that Trump overvalued Mar-a-Lago by a staggering 2,300% in one financial statement and falsely claimed that his penthouse at Trump Tower in New York was three times its actual size.
The judge dismissed Trump's claim that calculating the penthouse's area was subjective and ruled that such a significant discrepancy could only be considered fraud.
Implications Of The Ruling
The ruling resolves the key claim of fraud in the lawsuit, focusing the trial on six remaining claims and determining potential penalties.
The trial is scheduled to begin on October 2 and could extend into December. Attorney General Letitia James is seeking $250 million in penalties and a ban on Trump doing business in New York.
Judge Engoron's ruling also ordered the cancellation of business certificates for Trump entities, which includes the Trump Organization.
While this won't dissolve the company, it could lead to Trump losing control of iconic New York properties like Trump Tower and the Trump Building at 40 Wall Street.
Trump's Response And Future Legal Battles
Trump's legal team has called the ruling a miscarriage of justice and has indicated that they will appeal.
Trump himself condemned the decision, characterizing it as another political "witch hunt" led by a biased prosecutor. He also accused the judge of being "highly politicized."
This ruling adds to Trump's legal woes as he campaigns for a potential return to the White House in 2024. He currently faces 91 felony charges across four criminal cases, all of which he has pleaded not guilty to.
An appeals court is set to rule on Trump's request to delay the trial this week, and if it rules against him, he will continue to fight the case in court.
The full impact of Judge Engoron's ruling remains unclear, but it poses a significant challenge to Trump's business empire and political ambitions.
As Trump's legal battles intensify, he faces mounting legal and financial pressure that could shape his future in politics and business.
Final Words
A New York judge's ruling that Trump committed fraud by misrepresenting his wealth poses challenges to his business operations in the state.
Despite Trump's denials and accusations of bias, the judge's scathing decision upheld allegations of fraudulent property valuations.
This ruling sets the stage for a trial to determine potential penalties, adding to Trump's ongoing legal battles.
The future implications for Trump's political ambitions and business ventures remain uncertain as he faces mounting legal and financial pressures.
Suleman Shah
Author
Suleman Shah is a researcher and freelance writer. As a researcher, he has worked with MNS University of Agriculture, Multan (Pakistan) and Texas A & M University (USA). He regularly writes science articles and blogs for science news website immersse.com and open access publishers OA Publishing London and Scientific Times. He loves to keep himself updated on scientific developments and convert these developments into everyday language to update the readers about the developments in the scientific era. His primary research focus is Plant sciences, and he contributed to this field by publishing his research in scientific journals and presenting his work at many Conferences.
Shah graduated from the University of Agriculture Faisalabad (Pakistan) and started his professional carrier with Jaffer Agro Services and later with the Agriculture Department of the Government of Pakistan. His research interest compelled and attracted him to proceed with his carrier in Plant sciences research. So, he started his Ph.D. in Soil Science at MNS University of Agriculture Multan (Pakistan). Later, he started working as a visiting scholar with Texas A&M University (USA).
Shah’s experience with big Open Excess publishers like Springers, Frontiers, MDPI, etc., testified to his belief in Open Access as a barrier-removing mechanism between researchers and the readers of their research. Shah believes that Open Access is revolutionizing the publication process and benefitting research in all fields.
Han Ju
Reviewer
Hello! I'm Han Ju, the heart behind World Wide Journals. My life is a unique tapestry woven from the threads of news, spirituality, and science, enriched by melodies from my guitar. Raised amidst tales of the ancient and the arcane, I developed a keen eye for the stories that truly matter. Through my work, I seek to bridge the seen with the unseen, marrying the rigor of science with the depth of spirituality.
Each article at World Wide Journals is a piece of this ongoing quest, blending analysis with personal reflection. Whether exploring quantum frontiers or strumming chords under the stars, my aim is to inspire and provoke thought, inviting you into a world where every discovery is a note in the grand symphony of existence.
Welcome aboard this journey of insight and exploration, where curiosity leads and music guides.
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