10:30am PDT, Oct 14, 2023
In late September, a New York judge ruled that Donald Trump and his adult sons — Donald Trump Jr. and Eric Trump — are liable for fraud for inflating the value of their family businesses in order to get better deals from banks and insurers. If the ruling stands, it would essentially gut the former president’s business empire. On Sept. 26, the judge also canceled the business certifications of the Trump entities that are defendants in the case including the Trump Organization, CNN reported.
The ruling comes as part of a lawsuit by New York Attorney General Letitia James, who is seeking $250 million in damages. Trump has denied the charges and said in a deposition that his financial statements were not fraudulent because they contained disclaimers, which the former POTUS called a “worthless clause.”
But the judge argued in turn, “The…