In late September, a New York judge made a significant decision, finding that Donald Trump and his adult sons, Donald Trump Jr. and Eric Trump, were responsible for fraud. This ruling was based on their alleged manipulation of their family businesses’ values to secure more favorable terms from banks and insurers. If this ruling remains in place, it could have a substantial impact on the former president’s business empire. On September 26, the judge also revoked the business certifications of the Trump entities involved in the case, which include the Trump Organization, according to CNN.
This development is part of a lawsuit initiated by New York Attorney General Letitia James, who is pursuing $250 million in damages. Trump has vehemently denied these allegations and, during a deposition, argued that his financial statements were not fraudulent due to the disclaimers they contained. He referred to these disclaimers as a “worthless clause.”
However, the judge countered, stating, “The defendants’ reliance on these ‘worthless’ disclaimers holds no weight. The arguments put forth by Donald Trump in his sworn deposition have no basis in law or fact.”
Trump expressed his strong disapproval of the ruling on social media, claiming that his company had been unfairly tarnished by what he deemed a politically motivated “Witch Hunt.” He called for intervention from the highest courts in New York State or the federal system, stating, “THIS IS NOT AMERICA!”
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