/cloudfront-eu-central-1.images.arcpublishing.com/prisa/2N5DYCX2FE6SJOJSQMU3OYOHXU.jpg "Judge Rules Trump Organization Responsible for Fraud in Lawsuit Alleging Asset Inflation")
Headline: Judge Rules in Favor of NY Attorney General, Holds Donald Trump Responsible for Fraud
Sub-headline: New York judge refuses to dismiss lawsuit accusing Trump of inflating assets and net worth
Date: [Date]
By [Author Name]
[City], [State] – A New York judge has ruled against former President Donald Trump, refusing to dismiss a lawsuit brought forth by the state’s attorney general, Letitia James. The lawsuit alleges that Trump illegally inflated his assets and net worth in order to obtain favorable credits and economic benefits. Judge Arthur Engoron of the New York state court in Manhattan ruled that Trump, along with his family business, the Trump Organization, will be held responsible for fraud.
Attorney General James has been investigating the case since September of last year. Trump’s lawyers attempted to stall the proceedings with repeated requests for postponement, but Judge Engoron sided with the Prosecutor’s Office. A partial trial on the main charge of fraud has been granted against Trump, his sons Donald Jr. and Eric, the Trump Organization, and various associates. The trial for the remaining six crimes included in the case is scheduled for October 2. As part of the ruling, Engoron also ordered the termination of some of Trump’s business licenses and the appointment of an independent monitor to oversee the operations of the Trump Organization.
This isn’t the first setback for Trump, who was leading the 2024 Republican primaries with a 40-point advantage over his closest rival, Florida Governor Ron DeSantis. In December of last year, the Trump Organization was found guilty and had to pay a fine of $1.6 million. The recent lawsuit filed by James accuses Trump and his business of lying about the value of his assets for a decade, with the intention of obtaining more favorable loans and insurance coverage.
According to James, Trump allegedly inflated his net worth by up to $2.23 billion to $3.6 billion in annual statements provided to financial institutions during that period. Trump, however, claims that James is pursuing him for political reasons and refers to the case as a “witch hunt.” The attorney general specifically points to assets such as the Mar-a-Lago estate in Florida and the Trump Tower in Manhattan as examples of falsely inflated values. These assets are also connected to one of the charges against Trump involving the retention of classified documents after leaving the White House.
Judge Engoron stated in his ruling that James had successfully established responsibility for the false valuations of several properties, including Mar-a-Lago and the Manhattan penthouse. He criticized Trump for providing explanations that are “totally without legal or factual basis” in his statements. The trial for this civil case is set to begin on October 2 and could extend into December, coinciding with the start of the trial for the Stormy Daniels case, another legal battle Trump faces in New York.
Despite these legal challenges, Trump’s aspirations for a 2024 presidential campaign appear undeterred. This ruling adds to the mounting legal fronts that the former president is currently facing. As the trial dates approach, the outcome may have implications for his potential return to the White House.
[City], [State] – [Publication Name]