2023-09-26 21:26:32
New York
Guilty – Donald Trump systematically manipulated company value
A New York judge ruled on Tuesday that former US President Trump had deliberately overstated his assets in order to obtain better conditions for loans, for example.
Published26. September 2023, 11:26 p.m
Before the start of a civil trial once morest former President Donald Trump, a US judge accused him of years of fraud in setting up his real estate company.
REUTERS
Trump was found guilty by a New York judge.
The preliminary guilty verdict states that the former US president systematically manipulated the company’s value in order to obtain cheaper loans and insurance contracts.
New York Attorney General Letitia James is demanding $250 million in restitution in a civil lawsuit.
Former US President Donald Trump has followed suit Assessment of a New York judge manipulated the goodwill of his Trump Organization for years and thereby committed fraud. The ex-president, his sons and senior employees had it Value of the company in annual reports systematically overestimated in order to obtain loans and insurance contracts on more favorable terms, according to a preliminary decision by Judge Arthur Engoron on Tuesday.
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.
The value of his Mar-a-Lago estate in Florida is said to have been inflated by 2,300 percent in financial documents.
$250 million in restitution
The civil trial once morest Trump brought by New York Attorney General Letitia James is scheduled to begin next Monday. She 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 might have legal consequences for the 77-year-old. Trump wants to run once more in next year’s presidential election.
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(AFP/DPA/kle/sys)
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