Donald Trump defrauded many people and organizations: Court

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A court in the United States (US) ruled that former US President Donald Trump defrauded many individuals and institutions while building a real estate empire. The court judge said that Trump had ordered the termination of some business licenses to make it difficult for the company to do business in New York.

Donald Trump defrauded many people and organizations: Court

In the United States (US), a verdict was issued by New York Attorney General Letitia James in the lawsuit against former US President Donald Trump. The court ruled that Trump defrauded numerous individuals and institutions during the years he built his property empire.

In the civil lawsuit, Judge Arthur Engoron ruled that the former president and his "Trump Organization" defrauded banks, insurers, and others by overvaluing his assets and overstating his net worth in contracts and financing documents.

In his 35-page decision, Engoron stated that Trump and the company and its executives obtained loans on favorable terms and low insurance premiums by constantly lying about their annual financial situation.

Noting that these tactics crossed the line and violated the law, Engoron said that Trump had ordered the termination of some business licenses to make it difficult for the company to do business in New York and that the company's operations would be audited by an independent monitor.

With his ruling, Judge Engoron has disposed of the most important of the charges in Attorney General James' case, but the other 6 charges in the indictment will be decided in a non-jury trial starting on 2 October. The trial may be extended until December.

250 MILLION DOLLARS DEMAND

In the indictment, Attorney General James claims that Trump overstated the wealth of his 3 eldest children and his company by 3.6 billion dollars, and asks the judge to prohibit Trump and his children from establishing a company in New York again and purchasing commercial real estate for 5 years and to impose a fine of 250 million dollars.

Letitia James had previously sued Trump for using her charity for political and business interests, and the former US President Trump, who was found guilty, was sentenced to pay 2 million dollars to a number of charities, and the Trump Foundation was shut down.

Source: Anadolu Agency

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