A New York judge on Tuesday found former President Donald Trump and his three adult sons liable for fraud in a civil court filed by New York Attorney General Letitia James. The judge, Arthur Engoron, said that James had presented “clear and convincing evidence” that Trump and his sons had engaged in a “pattern of persistent illegal conduct” by misrepresenting the value of their assets to banks, insurers, and investors.
The lawsuit, which was filed in September 2022, alleged that Trump and his sons had inflated the value of their assets by billions of dollars in order to obtain more favorable loan terms and insurance rates. James also alleged that Trump and his sons had misled investors about the value of their assets in order to sell them securities at a higher price.
The judge’s ruling is a major victory for James and her investigation into Trump’s business practices. It is also a significant setback for Trump, who has repeatedly denied any wrongdoing.
The judge’s ruling could have a number of consequences for Trump and his family. It could make it more difficult for them to obtain loans and insurance in the future. It could also lead to criminal charges against Trump and his sons.
The judge’s ruling is also a significant development in the ongoing legal investigations into Trump. It is the first time that a court has found Trump liable for fraud in a civil lawsuit. The ruling could embolden other prosecutors to pursue criminal charges against Trump.
The judge’s ruling is likely to be appealed by Trump and his sons. The appeal process could take several years. However, the judge’s ruling is a major setback for Trump and his family. It remains to be seen whether the ruling will withstand the appeals process, but it is a significant development in the ongoing legal investigations into Trump.
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