The court ruled: Trump defrauded banks and insurance companies for years while building his real estate empire — voila! news
9/26/2023, 9:10:45 PM
Highlights: Manhattan Court Judge Arthur Engoron ruled Tuesday that Trump and his company defrauded banks and insurance companies for years while building his real estate empire. The judge added that beyond the exaggerated assessment, former President Trump and the executives of his company repeatedly lied in the company's financial statements and obtained favorable loan terms and lower insurance premiums. The decision is the worst blow to date to the former president's image as a wealthy and shrewd real estate tycoon — which also made him president of the United States.
Judge Arthur Engoron accepted the arguments of the New York State Attorney General's Office and found that the former president and his company overestimated his wealth and assets and exaggerated his net worth as well – among other things, repeatedly lied in the company's financial statements
Trump denies election bias charges against him: 'It's persecution'/Photo: Reuters
Manhattan Court Judge Arthur Engoron ruled Tuesday that Trump and his company defrauded banks and insurance companies for years while building his real estate empire. Judge Engoron, who accepted the New York Attorney General's arguments, ruled that the former president and his company overestimated his wealth and assets and exaggerated his net worth in all the paperwork used to execute transactions and secure financing.
Judge Engoron's decision is the worst blow to date to the former president's image as a wealthy and shrewd real estate tycoon — which also made him president of the United States. In the decision, the judge added that beyond the exaggerated assessment, former President Trump and the executives of his company repeatedly lied in the company's financial statements and obtained favorable loan terms and lower insurance premiums.
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