Donald Trump Found Liable for Fraud by New York Judge
On September 26, 2023, a New York judge found Donald Trump and his adult sons liable for fraud. The judge also canceled the Trump Organization’s business certification in New York state. This ruling is a major victory for New York Attorney General Letitia James, who has been investigating Trump’s business practices for several years.
What Does This Mean for Trump and His Business Empire?
This ruling is a significant setback for Trump and his business empire. If the ruling is upheld on appeal, Trump could be barred from doing business in New York state. He could also face criminal charges.
How Did Trump Commit Fraud?
The judge found that Trump and his sons had repeatedly inflated the value of their assets in order to obtain loans and insurance coverage on more favorable terms. The judge also found that Trump had personally signed off on many of the financial statements, making him personally liable for the fraud.
What Are the Implications of This Ruling?
The implications of this ruling are far-reaching. If the ruling is upheld on appeal, it could have a significant impact on Trump’s ability to do business in the United States and around the world. It could also damage his reputation and make it more difficult for him to raise money.
What Happens Next?
Trump and his sons have vowed to appeal the ruling. The case is likely to go through several years of litigation before it is finally resolved.
Additional Information:
- The judge’s ruling is based on a civil lawsuit, not a criminal case. This means that Trump and his sons cannot be sent to prison if they are found guilty. However, they could be ordered to pay damages and could be barred from doing business in New York state.
- The ruling is a major victory for New York Attorney General Letitia James, who has been investigating Trump’s business practices for several years. It is also a significant setback for Trump, who has repeatedly denied any wrongdoing.
- The case is not over yet. Trump and his sons have vowed to appeal the ruling.
Conclusion:
The ruling by the New York judge that found Donald Trump and his adult sons liable for fraud is a major setback for Trump and his business empire. The ruling could have significant implications for Trump’s ability to do business in the United States and around the world. It could also damage his reputation and make it more difficult for him to raise money.