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Donald Trump

New York judge rules Trump committed fraud while

building real estate empire
The ruling comes after New York Attorney General Letitia James accused Trump of overvaluing his assets
By Brooke Singman Fox News

Published September 26, 2023 5:34pm EDT

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A judge ruled Tuesday that Donald Trump and his company committed fraud while
building his real estate empire, after New York Attorney General Letitia James accused the
former president of overvaluing his assets.

Judge Arthur Engoron ruled Tuesday 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.

NEW YORK APPEALS COURT NARROWS NYAG CASE, DISMISSES IVANKA TRUMP AS A
DEFENDANT, CUTS STATUTE OF LIMITATIONS

Engoron ordered that some of Trump’s business licenses be rescinded as punishment,

making it difficult or impossible for them to do business in New York. The judge said he
would continue to have an independent monitor oversee the Trump Organization’s
operations.

The Trump campaign did not immediately respond to Fox News Digital's request for
comment.

Former President Donald Trump points to his supporters as he arrives at Atlantic Aviation CHS in North Charleston, S.C.,
Monday, Sept. 25, 2023. (AP Photo/Artie Walker Jr.)

The ruling comes out of James' lawsuit in which she alleged Trump "inflated his net worth
,

by billions of dollars" and said his children helped him to do so.

When Trump was president, James sued his administration dozens of times, challenging
policies on the environment, immigration, education, health care and other issues.

Former President Donald Trump, left, dropped a second lawsuit against New York Attorney General Letitia James Tuesday.
(AP)

Trump sued James in November and claimed she abused her position as attorney general
to "recklessly injure" him, his family and his businesses. Trump alleged James was
pursuing "a relentless, pernicious, public, and unapologetic crusade" against him "with the
stated goal of destroying him personally, financially, and politically."

NEW YORK AG SUES TRUMP OVER FRAUD ALLEGATIONS

In January, Trump voluntarily dismissed that lawsuit.

MANHATTAN, NEW YORK, UNITED STATES - 2023/07/10: Marquee at the main entrance to the Trump Tower building in
Manhattan. (Erik McGregor/LightRocket via Getty Images)

Trump was deposed as part of the lawsuit in April for the second time. During that
deposition, the former president and 2024 GOP frontrunner, answered questions. The first
deposition took place in August, but Trump invoked his Fifth Amendment rights.

Trump has denied any wrongdoing and has said the investigation is politically motivated
and a "witch hunt."

Brooke Singman is a Fox News Digital politics reporter. You can reach her at
Brooke.Singman@Fox.com or @BrookeSingman on Twitter.

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