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BBC reported that New York court judge Arthur Engoron ruled that former US President Donald Trump and his two sons, Eric and Don Jr., committed fraud by inflating the value of real estate and financial assets of the Trump Organization real estate corporation for many years.
The decision was made in connection with a lawsuit filed by New York Attorney General Letitia James in a civil case against Mr. Trump. In the lawsuit, Ms. James accused the former US President and his two sons of business fraud by submitting excessive figures to banks and insurance companies.
In addition, the Trump family also deceived tax authorities, banks and insurance companies for many years by regularly declaring false values of the group's assets to enrich themselves.
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| Former President Donald Trump speaks in Columbia, South Carolina, January 28, 2023. Source: VNA |
The New York Attorney General said that Mr. Trump's corporation inflated its net worth by billions of dollars between 2011 and 2021 to secure and maintain loans and insurance on favorable terms, resulting in millions of dollars in illegal profits.
In January, the Trump Organization was fined $1.6 million by a New York judge in a financial fraud and tax fraud case.
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