Judge rules Donald Trump defrauded banks and insurers while building real estate empire | AP News

Judge rules Donald Trump defrauded banks, insurers while building real estate empire

"Former President Donald Trump pauses before ending his remarks at a rally in 

Summerville, S.C., Sept. 25, 2023. A New York judge ruled, Tuesday, Sept. 26, 2023, 

that the former president and his company committed fraud for years while building 

the real estate empire that catapulted him to fame and the White House. 

(AP Photo/Artie Walker Jr., File)

BY MICHAEL R. SISAK

Updated 6:40 PM EDT, September 26, 2023

"NEW YORK (AP) — A judge ruled Tuesday 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 in a civil lawsuit brought by New York Attorney General Letitia James, 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.Judge Arthur Engoron, ruling in a civil lawsuit brought by New York Attorney General Letitia James, 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.

Engoron ordered that some of Trump’s business licenses 

be rescinded as punishment, making it difficult or impossible 

for them to do business in New York, and said he would 

continue to have an independent monitor oversee the 

Trump Organization’s operations."Engoron ordered that some 

of Trump’s business licenses be rescinded as punishment, 

making it difficult or impossible for them to do business in 

New York, and said he would continue to have an independent 

monitor oversee the Trump Organization’s operations."

Judge rules Donald Trump defrauded banks and insurers while building real estate empire | AP News