Judge rules Donald Trump defrauded banks, insurers as he built real estate empire

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A judge has ruled that Donald Trump committed fraud for years while building the real estate empire that catapulted him to fame and the White House.

for years while building the real estate empire that catapulted him to fame and the White House.

Judge Arthur Engoron, ruling Tuesday in a civil lawsuit brought by New York’s attorney general, found thatand his company deceived banks, insurers and others by massively overvaluing his assets and exaggerating his net worth on paperwork used in making deals and securing financing. The decision, days before the start of a non-jury trial in Attorney General Letitia James’ lawsuit, is the strongest repudiation yet of Trump’s carefully coiffed imageNew York Attorney General Letitia James has sued former president Donald Trump and his three adult children, Don Jr., Eric, Ivanka and top executives at the Trump Organization for fraud.

Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly Beyond mere bragging about his riches, Trump, his company and key executives repeatedly lied about them on his annual financial statements, reaping rewards such as favorable loan terms and lower insurance premiums, Engoron found.

 

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