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Trump Faces Legal Setback As Judge Rules Fraudulent Property Inflation

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<img src=”https://storage.googleapis.com/prod-zenger-upload/image/20230927/feat_9c899aa9-744c-482b-b8ce-c8503368a67c.jpg” alt=”Following Justice Arthur Engorons summary judgment that declared that Donald Trump and his family business had fraudulently inflated property and asset values, Mary Trump, a psychologist, podcast host, and niece of the former president, offered her perspective. PHOTO BY MARKUS SPISKE/UNSPLASH “>

Following Justice Arthur Engorons summary judgment that declared that Donald Trump and his family business had fraudulently inflated property and asset values, Mary Trump, a psychologist, podcast host, and niece of the former president, offered her perspective.

Engoron’s summary judgment on Tuesday about Donald Trump and his family business’ actions places the former president at a disadvantage in the upcoming Oct. 2 trial. This ruling is connected to a civil case brought by New York Attorney General Letitia James.

Following Justice Arthur Engoron‘s summary judgment that declared that Donald Trump and his family business had fraudulently inflated property and asset values, Mary Trump, a psychologist, podcast host, and niece of the former president, offered her perspective. PHOTO BY MARKUS SPISKE/UNSPLASH 

The judge “ruled that Donald has been committing fraud for decades while building his marketing scam on the back of his father’s empire,” Mary Trump said in a post on X. “This, according to Joyce Vanceis New York’s corporate death penalty. Also, Donald is old.” 

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Vance served as the U.S. attorney for the Northern District of Alabama during the second term of the Obama presidency. 

Mary Trump highlighted the significance of the decision, given Donald Trump’s previous legal issues, including impeachment and allegations of rape.

“For the victims of Donald, this is finally some vindication. It’s been a long time coming, but after everything Donald has put this country through,” she added.

Mary Trump acknowledged the investigative reporting by The New York Times in 2018, which had raised questions about tax schemes and fraud involving Donald Trump during the 1990s.

Following Justice Arthur Engoron‘s summary judgment that declared that Donald Trump and his family business had fraudulently inflated property and asset values, Mary Trump, a psychologist, podcast host, and niece of the former president, offered her perspective. PHOTO BY MARKUS SPISKE/UNSPLASH 

Justice Engoron’s ruling found Trump, his sons, and others “liable as a matter of law for persistent violations” of New York state law, specifically citing false financial statements provided to lenders and insurers for around a decade.

Engoron found Trump and his sons and their other accomplices “to be liable as a matter of law for persistent violations” of New York state law. The financial statements the Trumps provided to lenders and insurers for about a decade were false and they repeatedly engaged in fraud, he added.

The judge ordered the immediate cancellation of any certificates that are e held by Trump, his two adult sons, the Trump Organization, and its underlying LLCs. Certificates refer to corporate licenses, without which the company can’t operate, get government contracts, and get loans, among other things.

He also ordered that “within 10 days of the date of this order, the parties are directed to recommend the names of no more than three potential independent receivers to manage the dissolution of the canceled LLCs.”

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James said in a post from her official handle on X, formerly Twitter, “We look forward to presenting the rest of our case at trial.” She is seeking a hefty $250 million in damages and the imposition of a lifetime ban on the Trump family, barring them from holding executive positions in any New York-based companies. 

Produced in association with Benzinga

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