Judge alleges tax fraud, undervalues Trump estate in ongoing witch-hunt.
OAN’s Sophia Flores
6:26 PM – Tuesday, September 26, 2023
A judge has found 45th President Donald J. Trump liable of fraud in New York City. Trump’s family was quick to come to his defense and call out the “corruption.”
On Tuesday, Judge Arthur Engoron refused to dismiss New York Attorney General Letitia James’s lawsuit against the former president.
She claims that Trump and his family business inflated their wealth on financial records in an effort to benefit from “better loan terms” and lower insurance premiums.
According to Judge Engoron, the GOP hopeful’s primary estate, Mar-a-Lago, is worth “around $18 million.”
Eric Trump, the former president’s son, responded to the news on the platform X, formerly known as Twitter, when it was revealed that Judge Engoron had placed a low valuation on Mar-a-Lago.
Eric Trump quickly refuted the judge’s assertion and provided images of other homes that are for sale in the same neighborhood as the famed Mar-a-Lago property.
All of the other properties that he included were much smaller and not close to the water, unlike his father’s home.
Trump’s eldest son, Donald Trump Jr., also pointed out an empty lot in the affluent neighborhood that is down the street from Mar-a-Lago and how it is currently on sale for $150 million.
The attorney general has had a lengthy history of claiming that the former president has committed money fraud. She first sued Trump in 2020.
At the time, James claimed that Trump was “exaggerating his wealth up by $3 billion.”
As part of his Tuesday ruling, Judge Engoron ordered that some of Trump’s business licenses be rescinded.
Doing so would make it nearly impossible for the Trump Organization to operate business in New York. Additionally, Trump would have to assign an independent, third party monitor to oversee Trump Organization operations.
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How did Donald Trump Jr. and others react to Judge Engoron’s decision to allow the lawsuit to proceed?
In the area with price tags ranging from $50 million to $100 million. He insinuated that the low valuation of Mar-a-Lago was politically motivated and aimed at tarnishing his father’s reputation and legacy.
Donald Trump Jr., the former president’s eldest son, also took to X to express his outrage at the ruling. He accused Judge Engoron and Attorney General James of being part of a “corrupt system” and claimed that they were working together to bring down his father.
The lawsuit filed by Attorney General James alleges that the Trump family artificially inflated the value of their properties in order to secure loans and obtain favorable insurance rates. The lawsuit also claims that the Trump Organization engaged in fraudulent practices such as submitting phony financial statements and inflating expenses.
Judge Engoron’s decision to allow the lawsuit to proceed is seen as a significant blow to the Trump family, who have repeatedly denied any wrongdoing. This marks yet another legal challenge for the former president, who has faced numerous lawsuits throughout his career.
The outcome of the lawsuit remains uncertain, but it has already sparked a heated debate. Supporters of the Trump family argue that it is politically motivated and designed to undermine their reputation, while critics argue that it is an important step towards holding them accountable for their actions.
Regardless of the outcome, this lawsuit serves as a reminder of the legal challenges that can arise for public figures, even after they leave office. It highlights the importance of transparency and integrity in financial dealings, and the potential consequences for those who engage in fraudulent practices.
As the legal battle unfolds, it is likely to continue to generate significant media attention. The Trump family’s response and defense will be closely scrutinized, and the outcome of the lawsuit will undoubtedly have implications for their future endeavors.
In conclusion, the judge’s decision to allow the lawsuit against Donald Trump to proceed marks a significant development in the legal challenges facing the former president and his family. While the outcome remains uncertain, the case highlights the importance of financial integrity and transparency for public figures.
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