A New York judge has ruled against Donald Trump and his adult sons, holding them responsible for fraudulent activities and revoking the Trump Organization’s business certification. The judge, Arthur Engoron, determined that the Trumps had provided false financial statements for approximately a decade.
Judge Arthur Engoron’s decision came just days before the civil case involving the New York attorney general’s office and the former president was scheduled to proceed to trial.
Engoron granted Attorney General Letitia James’ motion for summary judgment, finding Trump, his sons, and others legally liable for persistent violations of New York state law. He concluded that the financial statements submitted by the Trumps to lenders and insurers over the past decade were inaccurate and that they had repeatedly engaged in fraudulent activities.
This verdict represents a significant setback for Trump and a complete rejection of his claims that he did not overstate the values of his golf courses, hotels, residences at Mar-a-Lago, and Seven Springs on financial documents frequently used in business transactions.
In response to the ruling, Attorney General Letitia James stated, “Today, a judge ruled in our favor and found that Donald Trump and the Trump Organization engaged in years of financial fraud. We look forward to presenting the rest of our case at trial.”
The attorney general is seeking $250 million in damages, a prohibition on the Trumps serving as officers of any New York business, and a five-year prohibition on the company from participating in business transactions.
Furthermore, the judge has revoked the business certifications of the Trump entities named as defendants in the case, including the Trump Organization, and has appointed a receiver to oversee the dissolution of these corporate entities.
The lawsuit involves two New York properties: the commercial tower at 40 Wall Street and the Trump family estate at Seven Springs.
Among the allegations, Trump is accused of inflating the value of his triplex apartment at Trump Tower to three times its actual size, leading to an overvaluation ranging from $114 million to $207 million, according to Engoron’s ruling.
Engoron also criticized the defendants for their obstinate conduct and reliance on baseless arguments throughout the legal proceedings. He stated, “That is a fantasy world, not the real world.”
In an analogy, the judge likened Trump’s legal defense of fraudulent financial statements to a line from the comedy “Duck Soup”: “Well, who ya gonna believe, me or your own eyes?”
Trump condemned the ruling, accusing Judge Engoron of being influenced by Attorney General James. He also called for intervention from the highest courts in New York State or the federal system.
Trump’s attorney, Christopher Kise, criticized the decision as being disconnected from the facts and applicable law. He pledged that Trump and his family would pursue all available appellate remedies to rectify what he called a miscarriage of justice.
Eric Trump expressed his frustration with the New York legal system on X, formerly known as Twitter, and accused the judge and attorney general of attempting to destroy his family’s reputation and accomplishments.
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