Civil lawsuit in New York – Judge: Trump committed fraud with his company – News




Civil lawsuit in New York – Judge: Trump committed fraud with his company – News – SRF
























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  • According to a New York judge, former US President Donald Trump manipulated the goodwill of his Trump Organization for years and thereby committed fraud.
  • The ex-president, his sons and senior employees systematically overestimated the value of the company in annual reports.
  • In doing so, they tried to get loans and insurance contracts on more favorable terms.

This was stated in a preliminary decision by Judge Arthur Engoron. For example, Trump stated the size of his apartment in Trump Tower as around 2,800 square meters for years, even though it was only a good 1,000 square meters. As a result, the property was overvalued by up to $200 million.

Legend:

There are currently several legal proceedings against Donald Trump.

Reuters/Scott Morgan

The value of his Mar-a-Lago estate in Florida is said to have been inflated by 2,300 percent in financial documents. Engoron ordered the cancellation of some business licenses for the Trump Organization.

Always legal disputes

The civil trial against Trump brought by New York Attorney General Letitia James is scheduled to begin next Monday. Engoron’s decision concerns the main charge. The trial will also address further allegations and the sentence.

James wants to ensure that Trump has to pay $250 million in restitution and is no longer allowed to do business in New York. A final verdict is expected in December.

Trump has been fighting numerous conflicts with the US judiciary for decades. Even as a construction mogul, he was entangled in legal disputes. Even during his presidency from 2017 to 2021, he was repeatedly targeted by the judiciary.

Since the end of his presidency, Trump has struggled on several fronts with legal problems or investigations that could have legal consequences for the 77-year-old. Trump wants to run again in next year’s presidential election.


SRF 4 News, September 27, 2023, 1:00 a.m.;


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