YOURE FIRED!: New York judge pastes new charges on Trump and sons for lying about the net worth of his businesses. Trump has lost control of all of his assets in the state. He is out of business in NY.
Written on Sept. 27, 2023
(TSN): A New York Judge has ruled former Pres. Doanld Trump and his sons have committed fraud related to exaggerated valuations of his business assets. Judge Arthur Engoron cancelled the Trump organization's business license saying they falsified records for nearly a decade. Now the magnate faces broad liabilities that could lead to legal action in other states where he operated. As the Associated Press outs it, Trump's lies "catapulted him to fame and the White House."
New York Attorney General Letitia James brought the case to the court days ahead of the trial for another civil case she initiated. CNN reports that Engoron granted Attorney General Letitia James’ motion for summary judgment, finding Trump, his sons, and others “to be liable as a matter of law for persistent violations” of New York state law.
This case revealed The Trump Organization forged real estate and banking paperwork. Essentially, the allegation is that they cheated the state of New York by not paying correct amounts for business liabilities. Various assets Trump owned were not worth the billions he projected. Trump said that his Manhattan apartment in Trump tower was three times larger than it is. documenting it at over 30,000 sq. ft versus its actual 11,000 sq. ft. "A discrepancy of this order or magnitude by a real estate developer. . .can only be fraud," Judge Engoron said. Since the evidence of fraud was overwhelming the judge decided to go straight to the civil trial. The trial will determine fines and penalties for the fraudulent activity, which could add up to $235 million.
Further, the implication is that Trump did not pay the actual rates for a broad range of business operating expenses, Paul Henderson said on MSNBC. Ignoring the payment of rates and business insurance is a part of the harm. "This has opened the door" Henderson said, for retroactive pursuit of financial liabilities.
Susanne Craig, Investigative Reporter for the New York Times said that Trump is not longer in business in the state of New York. Until the trial is over a "receiver" will be in charge of Trump's properties.
