There are reportedly 2.4 million cases involving fraud each year, but they seldom involve a former U.S. President.
On Tuesday, September 26, Judge Arthur Engoron of New York found Donald Trump liable for fraud. The ruling accuses Trump and his associates of deceiving banks by inflating the value of his assets and net worth with the intent to secure loans and investments. As a result, the Trump Organization, which possesses the commercial tower at 40 Wall Street and a compound in Sandy Springs, has been stripped of its business license.
“A discrepancy of this order of magnified, by a real estate developer sizing up his own living space of decades, can only be considered fraud,” Engron wrote.
“Exacerbating defendants’ obstreperous conduct is their continued reliance on bogus arguments, in papers and oral argument.”
An independent monitor will be assigned to observe the Trump Organization’s observations in New York. Also, Engron could strip Trump of the ability to make key strategic and financial decisions regarding some of his New York properties if the ruling is not successfully appealed. In a Truth Social post, Trump called the ruling “un-American.”
“My Civil rights have been violated, and some Appellate Court, whether federal or state, must reverse this horrible, un-American decision,” the former reality show host wrote.
“A very sad Day for the New York State System of Justice!”