Donald Trump submitted «fraudulent valuations» for real estate that were then used by himself and his business to obtain better loan and insurance terms, a judge decided.
Former President Donald Trump submitted «fraudulent valuations» for assets that were then used by himself, his eldest sons and his business to obtain better loan and insurance terms, a judge in New York decided Tuesday.
The judge’s determination came as he granted partial summary judgment in New York Attorney General Letitia James’ multimillion-dollar civil fraud lawsuit.
Judge Arthur Engoron cites «false and misleading square footage» of Trump’s Fifth Avenue apartment among other faulty valuations.
The judge immediately canceled all of the defendants’ business certificates in New York, and ordered that they must recommend no more than three potential independent receivers to manage the dissolution of the canceled LLCs within 10 days.
