According to a New York judge, former US President Donald Trump manipulated the goodwill of his Trump Organization for years and thereby committed fraud. The ex-president, his sons and senior employees systematically overestimated the value of the company in annual reports in order to obtain loans and insurance contracts on more favorable terms, according to a preliminary ruling by Judge Arthur Engoron on Tuesday.
For example, Trump has indicated for years that his apartment in Trump Tower was about 2,800 square feet, even though it was only more than 1,000 square feet. As a result, the property was overvalued by up to $200 million. Financial documents say the value of his Mar-a-Lago estate in Florida has been inflated by 2,300 percent.
The civil trial against Trump, filed by New York Attorney General Letitia James, will begin next Monday. She wants to ensure that Trump has to pay $250 million in restitution and is no longer allowed to do business in New York. A final decision is expected in December.
Trump has been waging numerous conflicts with the American judiciary for decades. Even as a construction magnate he was embroiled in legal disputes. Even during his presidency from 2017 to 2021, he was repeatedly targeted by the judiciary. Since the end of his presidency, Trump has been faced with legal problems or investigations on various fronts that could have legal consequences for the 77-year-old. Trump wants to run again in the presidential elections next year. (sda/dpa)
Soource :Watson
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
