Trump found liable for fraud ahead of a trial in N.Y. attorney general’s $250M lawsuit
New York — A Manhattan judge found Donald Trump liable for wide-scale fraud Tuesday for lying about his net worth and stripped him of his New York business licenses in a stunning setback for the former president on the eve of state Attorney General Letitia James’ sweeping case against his family real estate empire.
In a 35-page order, State Supreme Court Judge Arthur Engoron ruled on James’ top fraud claim, finding that Trump, his sons, Eric and Don Jr., and multiple Trump Organization executives lied about the value of such assets as skyscrapers and golf courses for a decade and repeatedly used those fake figures in business transactions.
In another devastating development for Trump, the judge canceled his and his co-defendants New York business certificates and gave them 10 days to find an independent receiver to oversee their dissolution.
The ruling means the upcoming trial starting Monday — previously estimated to run three months — will be dramatically shortened. Engoron is expected to hear final pretrial arguments Wednesday.
Trump’s lawyers did not immediately respond to a request for comment. Engoron denied their motion to toss the whole case.
The AG ‘s office declined to comment. James’ office began investigating the case more than three years ago.
Trump last month brought proceedings against the judge and James in the 1st Department Court of Appeals seeking to delay the case, which the panel is expected to rule on this week. The AG has described Trump’s petition as a “brazen and meritless” attempt to evade accountability and undermine Engoron.
James’ lawsuit seeks to bar the Trumps from serving as head of New York-licensed businesses or doing business deals and taking out loans for five years.
Trump, who’s leading the Republican field in the 2024 presidential election, denies all allegations.
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