US court finds Trump guilty of fraud
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A New York court found former US President Donald Trump guilty of fraud for allegedly inflating the value of his assets by billions of dollars when filing financial statements with banks and insurance companies. reports Bloomberg.
The lawsuit was filed by the New York State Attorney’s Office in September 2022, and the case will continue on October 2. The focus will be on allegations of falsifying corporate reporting and providing false financial data. The state is also seeking $250 million in damages from Trump.
Trump’s real estate company and his two adult sons are also defendants in the lawsuit. They were accused of artificially inflating the value of the ex-president’s largest assets between 2011 and 2021. in order to obtain more favorable conditions when cooperating with banks and insurers.
The agency notes that the former head of the White House will most likely appeal the court’s decision. Overall, it is one of six cases against Trump, including four criminal prosecutions, that will go to trial ahead of the 2024 presidential election.
Trump calls the charges brought against him politically motivated and accuses the administration of US President Joe Biden of persecuting his main opponent. The Republican currently leads the Democrat in popularity in the polls.
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