A New York judge on Tuesday found Donald Trump and two of his children, Donald Trump Jr and Eric Trump, responsible for “ frauds » financial « repeated » in the 2010s in the valuation of the assets of the Trump Organization, even before the civil trial in this case opened on Monday.
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This decision represents a major setback in this matter for the former American president, who dreams of reconquering the White House in November 2024 and taking his revenge on his successor Joe Biden. On the other hand, it facilitates the task of the Attorney General of the State of New York, Letitia James, who had filed a complaint against Donald Trump. She is seeking $250 million in fines and bans from running companies for Donald Trump and several of his relatives, including his two children who now run the Trump Organization. This decision will considerably reduce the extent of what she will have to prove, notes our correspondent in Washington, Guillaume Naudin.
In his decision, Judge Arthur Engoron believes that Donald Trump and his children are “ responsible ” of “ repeated violations ” of the law. He adds that documents submitted by the Attorney General show “ clearly ” of the ” fraudulent reviews » from Donald Trump for the group’s assets, a myriad of companies that range from residential real estate to luxury hotels and golf clubs.
The New York State Attorney General accuses the Republican billionaire and his children of having “ swollen » this heritage of billions of dollars to, among other things, obtain more advantageous loans from banks from 2011 to 2021. In her complaint, the attorney general cites several examples, including Donald Trump’s triplex inside the Trump Tower in New York, the value of which would have been declared on the basis of a surface area three times greater than reality (2,700 square meters compared to 1,000), which would have made it possible to value it at $327 million. “ Good faith measurements could vary by 10-20%, not 200% », writes judge Arthur Engoron.
The Trump Organization brings together a myriad of companies and ranges from residential real estate, with several skyscrapers in New York, to luxury hotels, residences or private clubs like Mar-a-Lago in Florida and golf clubs. In March 2023, the magazine Forbes estimated Donald Trump’s fortune at $2.5 billion.
For the former president, it is another example of the witch hunt of which he claims to be a victim. In his defense he explains that he always told the banks not to take his statements into account and that they even made money thanks to him. And he claims, as usual, to have done nothing wrong.
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(With AFP)