Donald Trump's New York Fraud Case Proves He's Been 'Exaggerating His Net Worth' for Decades
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New York Judge Arthur Engoron, who is presiding over Donald Trump’s $250 million civil trial in the fraud case, confirmed what many critics suspected all along: he inflated his net worth. It’s a humblebrag that the former president has banked on for years in the public eye — he told everyone he’s a billionaire, but he’s actually worth far less.
The 35-page ruling noted that Donald Trump “continually lied on his financial statements and was able to get favorable loan terms and lower insurance premiums as a result,” according to NBC News. Even when he tried to legally defend his business practices, Engoron noted that his claims were based in “a fantasy world, not the real world.” He blasted Donald Trump for lying under oath, adding in the documents, “The defenses Donald Trump attempts to articulate in his sworn deposition are wholly without basis in law or fact.”
The former president has always boasted about his Trump Tower apartment in the gilded 5th Avenue building, but it should come as no surprise that it’s much smaller than he’s been telling everyone. It’s not over 30,000 feet, it’s about “a third of that size.” Engoron continued, “A discrepancy of this order of magnitude, by a real estate developer sizing up his own living space of decades, can only be considered fraud.”
Donald Trump and his sons, Donald Jr. and Eric, have been ordered to “dissolve numerous limited liability companies,” including the notable Trump Organization LLC, within 10 days. All three of them, and their companies, are liable for fraud, according to the judge, and now the unraveling of the New York City Trump empire begins.
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