Judge Arthur Engoron, ruling Tuesday in a civil lawsuit brought by New York’s attorney general, found that the former president and his company deceived banks, insurers and others by massively overvaluing his assets and exaggerating his net worth on paperwork used in making deals and securing financing.
Those tactics crossed a line and violated the law, the judge said, rejecting Trump’s contention that a disclaimer on the financial statements absolved him of any wrongdoing. Engoron’s ruling, in a phase of the case known as summary judgment, resolves the key claim in James’ lawsuit, but six others remain.
Source: Real Estate Daily Report (realestatedailyreport.net)
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