Donald Trump's business empire in peril as civil fraud trial opens in New York

  • 📰 rapplerdotcom
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 86%

Business News News

Business Business Latest News,Business Business Headlines

Trump is accused by Democratic New York Attorney General Letitia James of inflating the value of his assets by billions of dollars to secure better loan and insurance terms

and his family business are set to stand trial in New York on Monday, October 2, in a civil fraud case that could deal a major blow to the former US president’s real estate empire.Republican presidential nomination, is accused by Democratic New York Attorney General Letitia James of inflating the value of his assets by billions of dollars to secure better loan and insurance terms.

The trial comes a week after the judge presiding over the case found Trump liable for fraud and will largely concern the penalties he must face. “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,” he said.Engoron canceled business certificates for companies controlling pillars of Trump’s empire – including Trump Tower and his golf clubs in New York – and said he would appoint receivers to oversee their dissolution.

James alleges Trump reaped hundreds of millions of dollars in ill-gotten savings by “grossly” inflating the values of his assets to get better deals from lenders and insurers.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Trump business empire under threat as New York fraud trial opensNew York, United States - Donald Trump faces fresh legal danger on Monday as a civil fraud trial against the
Source: MlaStandard - 🏆 20. / 55 Read more »

Trump business empire under threat as New York fraud trial opensNEW YORK, United States -- Former US president Donald Trump will appear in a New York court on Monday as a civil fraud trial against him and two of his sons kicks off, with the case threatening the Republican's business empire as he campaigns to retake the White House.
Source: manilabulletin - 🏆 25. / 51 Read more »