Judge revokes Trump’s NY business licenses, finds he committed fraud by inflating wealth

A Manhattan judge on Tuesday found Donald Trump committed fraud by exaggerating the value of his wealth — and canceled the former president’s New York business licenses, which could hamper his longtime company’s ability to operate in the Empire State.

“A discrepancy of this order of magnitude, by a real estate developer sizing up his own living space of decades, can only be considered fraud,” Engoron wrote. Justice Engoron found Trump liable for fraudulently inflating the value of his assets, including his triplex at Trump Tower.It means Trump could be stripped of control over some of his namesake properties – including Trump Tower in Midtown.“Today’s outrageous decision is completely disconnected from the facts and governing law,” Christopher Kise, a lawyer for Trump, said in a statement.

A non-jury trial is set to start Oct. 2 for Engoron to hear arguments on the other claims in the suit, before deciding on those allegations.

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