A New York judge found Donald Trump and his family business fraudulently inflated the value of his properties and other assets, in a major defeat for the former U.S. president that could severely restrict his ability to do business in the state.
The scathing decision by Justice Arthur Engoron of the New York State Court in Manhattan will make it easier for state Attorney General Letitia James to establish damages at a scheduled Oct. 2 trial.
The attorney general has said Trump inflated his net worth by as much as $2.23 billion, and by one measure as much as $3.6 billion, on annual financial statements. "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.
"He also seems to imply that the numbers cannot be inflated because he could find a 'buyer from Saudi Arabia' to pay any price he suggests."Engoron ruled three months after a state appeals court said some of James' claims were too old because statutes of limitations had expired in either July 2014 or February 2016.
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