New York Judge Rules Trump Committed Fraud by Exaggerating Wealth
A New York state judge ruled on Tuesday that former President Donald Trump committed fraud by exaggerating his net worth on financial records. The ruling comes days before the trial is set to begin on a civil fraud lawsuit filed by New York Attorney General Letitia James.
The judge’s ruling narrows the scope of the trial and is a setback for Trump’s lawyers, who have been trying to fight some of the allegations against him. The judge also ordered sanctions of $7,500 each for Trump’s attorneys for making frivolous claims in their filings.
The lawsuit alleges that Trump fabricated the value of his apartment buildings, hotels, and other assets. In his ruling, the judge wrote that Trump’s lawyers were living in a “fantasy world” if they believed that rent-regulated apartments are worth the same as unregulated apartments, restricted land is worth the same as unrestricted land, and restrictions can “evaporate into thin air.”
The judge’s ruling is a significant victory for James and her investigation into Trump’s business practices. It remains to be seen whether the ruling will have any impact on Trump’s political future.