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Judge finds Trump overvalued his real estate empire

In a landmark ruling, a New York judge has found that former President Donald Trump committed fraud by overvaluing his real estate empire.

The judge, Arthur Engoron, found that Trump’s company had repeatedly and persistently inflated the value of its properties on financial statements, in order to obtain loans and other benefits.

Engoron’s ruling is a major victory for New York Attorney General Letitia James, who filed the lawsuit against Trump in 2020. James has accused Trump of engaging in “repeated and persistent fraud” and of “cheating the system.”

Trump has denied any wrongdoing, and his lawyers have vowed to appeal the ruling. However, Engoron’s findings are likely to have a significant impact on Trump’s business dealings and his ability to obtain financing.

Here are some of the key findings from Engoron’s ruling:

  • Trump inflated the value of his Trump Tower penthouse apartment in New York City by between $114 million and $207 million.
  • Trump inflated the value of his Trump Park Avenue apartments in New York City by claiming that they were not subject to rent control, when in fact they were.
  • Trump inflated the value of his Seven Springs estate in Westchester County, New York, by hundreds of millions of dollars.
  • Trump inflated the value of his 40 Wall Street building in Lower Manhattan by hundreds of millions of dollars.
  • Trump fraudulently valued his golf courses in the United States and Scotland.

Engoron’s ruling is a major blow to Trump, and it is likely to have a significant impact on his business dealings and his ability to obtain financing. It is also a major victory for Attorney General James and her efforts to hold Trump accountable for his actions.