A Donald Trump property fraud lawsuit in New York has returned a damning ruling: EPIC FAIL!
Current Events :
Earlier this week, ‘The Donald,’ Don Jr., and Eric Trump were all found liable for fraud in a New York state court that’s being called a devastating rebuke of the Trump Organization and its years of shady business practices.
On Tuesday, Justice Arthur F. Engoron agreed with New York Attorney General Letitia James and ruled that the Trump klan lied about the value of their properties in order to secure cheaper loans. In fact, the Trump property fraud case discovered that the Trumps inflated their worth to banks and insurers by as much as $3.6 billion a year!
Engoron ordered several business licenses to be rescinded as punishment, which will make it difficult or impossible for Trump to continue to do business in New York. The judge added that he will have an ongoing independent monitor oversee Trump Organization operations.
According to The New York Times, the surprise decision was a major victory for Attorney General James, after the judge ruled that a trial was not needed to determine that Trump did fraudulently secure favorable terms on loans and insurance deals.
Now, Trump could be on the hook for a penalty upwards of $250 million.
Trump attorney Christopher M. Kise said he will likely appeal the decision and called it “outrageous” and “completely disconnected from the facts and governing law.” He also claimed the judge biasedly ignored an earlier appeals court ruling, as well as “basic legal, accounting and business principles.”
Trump took to social media to warn his followers that Justice Engoron is a Democrat and therefore “deranged.”
However, Ms. James remained above the fray and only issued a brief statement, saying, “We look forward to presenting the rest of our case at trial.”
In addition to the hefty fine, the Trump property fraud ruling includes the cancellation of business certificates that allow some of Trump’s New York properties to operate. Additional penalties to come could terminate his control over a flagship commercial property in Lower Manhattan, a golf club in Westchester County, as well as his prized Trump Tower in Midtown Manhattan.
The hits just keep coming for Donald Trump, as his real estate empire, political future, and attempts to remain out of jail continue to crumble by the day.
OK WASSUP! covers Current Events:
Trump property fraud ruling is a huge loss.
In fact, I heard it reported that Trump (and sons) tended to overvalue his properties by an average of about 2300%. And frankly, my guess is, that Most Americans really aren’t that surprised by this news , if they are surprised at all.
After all, we’re talking about Trump!