Donald Trump and his family’s companies were found guilty of fraud on Tuesday in a civil lawsuit filed by state Attorney General Letitia James that accuses the former US president of illegally inflating his assets and net worth, according to Reuters.
Donald Trump in courtPhoto: Seth Wenig / UPI / Profimedia
The decision was issued by Judge Arthur Engoron of the New York state court in Manhattan.
James sued Trump in September 2022, accusing him of lying for a decade about his assets and net worth to get better terms on bank loans and insurance. Similar facts have been imputed to the Trump Organization.
She said Trump inflated his net worth by as much as $2.23 billion, and by one measure, as much as $3.6 billion, in annual financial statements to banks and insurers.
The attorney general said among the assets whose values were inflated were Trump’s Mar-a-Lago estate in Florida, his luxury apartment in Trump Tower in Manhattan, as well as various office buildings and golf courses.
