A New York judge found Donald Trump and his family business fraudulently inflated the value of his properties and other assets, in a major defeat for the former U.S. president that could severely hamper his ability to do business in the state.
The scathing decision by Justice Arthur Engoron of New York state court in Manhattan will make it easier for state Attorney General Letitia James to establish damages at a scheduled Oct. 2 trial. Engoron also ordered the cancellation of certificates that let some of Trump's businesses, including the Trump Organization, operate in New York, and ordered the appointment of a receiver to manage the businesses' dissolution.
The judge described how Trump, his adult sons Donald Jr. and Eric, the Trump Organization and other defendants made up valuations and inflated Trump's net worth to suit their business needs. Trump also faces a slew of other litigation.
He has pleaded not guilty to charges in four indictments accusing him of trying to overturn his 2020 election defeat by Democrat Joe Biden, hoarding classified materials, and covering up hush money payments to a porn star.
The appeals court is expected to rule on the request for a delay this week.
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