A New York judge ruled Tuesday that Donald Trump committed fraud against banks and insurers for years while building his wealth.
According to the Associated Press, Judge Arthur Engoron ruled on the civil case brought by New York Attorney General Letitia James.
The judge said that Trump, his company, and key executives lied about his wealth on his annual financial statements and was able to leverage favorable loan terms and lower insurance premiums.
In the news: Florida AG Ashley Moody Sounds Alarm On AI That Targets Teens With Sextortion
The judge said those tactics crossed a line and violated the law, rejecting Trump’s contention that a disclaimer on the financial statements absolved him of any wrongdoing.
Engoron will hold a non-jury trial starting Oct. 2 before deciding on those claims and any punishments he may impose.
James is seeking $250 million in penalties and a ban on Trump doing business in New York, his home state.
The trial could last into December, Engoron has said.
This is a developing story; check back for updates.
Android Users, Click To Download The Free Press App And Never Miss A Story. Follow Us On Facebook and Twitter. Signup for our free newsletter.
We can’t do this without your help; visit our GiveSendGo page and donate any dollar amount; every penny helps