May 30, 2024

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Donald Trump Found Liable for Fraud in New York Civil Case

2 min read
A New York judge has found Donald Trump and his family business liable for fraud, a major blow to the former president. The ruling could severely hamper Trump's ability to do business in the state and could also make it more difficult for him to obtain loans and insurance coverage in the future.
Donald Trump

Donald Trump Found Liable for Fraud in New York Civil Case

A New York judge has found former President Donald Trump and his family business liable for fraud, a major blow to Trump that could severely hamper his ability to do business in the state.

The ruling came in a civil lawsuit brought by New York Attorney General Letitia James, who accused Trump of inflating the value of his properties and other assets by billions of dollars in order to obtain favorable loans and insurance coverage.

In his ruling, Judge Arthur Engoron said that Trump and his company had engaged in a “persistent fraud” by providing false and misleading information about their assets. He also said that Trump had “personally directed” the scheme and had “knowingly and recklessly” made false statements.

The ruling is a major victory for James, who has been investigating Trump’s business practices for several years. It is also a setback for Trump, who has denied any wrongdoing.

Trump has not yet commented on the ruling, but his lawyers are expected to appeal.

How the Ruling Could Impact Trump

The ruling could have a significant impact on Trump’s business interests in New York. Judge Engoron ordered the cancellation of the Trump Organization’s business certificates, which means that the company will not be able to operate in the state unless it obtains new certificates.

The ruling could also make it more difficult for Trump to obtain loans and insurance coverage in the future. Lenders and insurers are likely to be more cautious about doing business with Trump given the judge’s findings of fraud.

What It Means for the Future

The ruling is a significant development in the ongoing investigations into Trump’s business practices. It is also a sign that the legal net is closing in on Trump, who is already facing multiple criminal investigations.

The ruling remains to be seen whether it will have any impact on Trump’s political career. Trump has already announced that he is running for president again in 2024, and he remains popular with many Republican voters.

However, the ruling is likely to damage Trump’s reputation and make it more difficult for him to raise money for his campaign. It could also make it more difficult for Trump to attract new business partners and investors.

The ruling by a New York judge that found Donald Trump liable for fraud is a major blow to the former president. The ruling could severely hamper Trump’s ability to do business in New York and could also make it more difficult for him to obtain loans and insurance coverage in the future. The ruling is also a sign that the legal net is closing in on Trump, who is already facing multiple criminal investigations.

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