Donald Trump and his sons were found guilty of fraudulent inflation of property value to suit their business needs. The lawsuit was brought in by New York”s attorney general, Letitia James.

The decision was made by Justice Arthur Engoron of New York State Court in Manhattan. Mr. Engoron also ordered the cancellation of Mr. Trump”s businesses” certificates to operate in New York. The list include Trump Organization.

Mr. Engoron also sanctioned  Donald Trump”s lawyers for making “preposterous” legal arguments and thus feeding their clients” “obstreperous” conduct.

Donald Trump, his sons Eric and Donald Jr., Trump Organization and other defendants inflated the actual values of the former US President”s net worth tailoring it to be apt for their business needs. Ms. James found out that Mr. Trump and other defendants did this by massively deceiving banks and exaggerating the numbers  in papers.

Mr. Trump has planned to appeal Mr. Engoron”s decision. They rejected the allegation of committing the said fraudulent activities.

Lawyer for Trump, Christopher Kise said in a statement, “Today”s outrageous decision in completely disconnected from facts and governing law. President Trump and his family will seek all available appellate remedies to rectify this miscarriage of justice”.

As per report, it is found out that Mr. Trump and his executives lied about his image being a business mogul and attracted rewards like lower insurance premium towards them.

Mr. Engoron, in his 35 page long ruling stated that, “In defendant”s world: rent regulated apartments are worth the same as unregulated apartments; restricted land is worth the same as unrestricted land; restrictions can evaporate to thin air; a disclaimer by one party casting responsibility on another party exonerates the other party”s lies,”. He also added that such world is a fantasy world and is not real.

The new ruling can severely tamper with Mr. Trump and his family”s ability to do business in the US. Ms. James can sue Mr. Trump and other defendants and seek . Mr. Engoron has decided to conduct a trial on October 2 on the case.

The lawsuit has struck at several of Mr. Trump”s properties including Mar-a-Lago estate in Florida.  Eric Trump responded to the allegations regarding estate as corrupt and coordinated.

In an attempt to destroy my father and kick him out of New York, a Judge just ruled that Mar-a-Lago, in Palm Beach Florida, is only worth approximate “$18 Million dollars”… Mar-a-Lago is speculated to be worth we’ll over a billion dollars making it arguably the most valuable… pic.twitter.com/b0U6J5ykWJ

— Eric Trump (@EricTrump) September 26, 2023

The Trump family has allegedly exaggerated the actual value of the Mar-a-Lago estate.

Mr. Trump called the accusation against him as “ridiculous and untrue”. He also called Mr. Engoron “Deranged” judge.

This is not the first time Ms. James has sued Donald Trump and his family. She sued Mr. Trump and his three adult sons of lying about their property values for 10 years as an attempt to lure banks to provide better terms. She saught a penalty of $250 million which she claims to be the benefits gained from the alleged fraudulent activities.

Ms. James has also sued Mr. Trump”s charitable foundation, Trump Foundation, alleging misuse of the foundation to garner political and business interests. As a result, Mr. Trump was asked to pay $2 million to several charities as fine. Later, The Trump Foundation was closed.

As the former President is aiming to get back into the White House in 2024 and gearing up campaigns, lawsuits follow him wherever he goes. For the past six months, he has been indicted for four times.

In Washington DC and Georgia, he is accused of plotting to keel his 2020 election result. In Florida, he is accused of hoarding classified documents and now in Manhattan, he is accused of inflating his net worth for business gains, as per reports.

“This is Democrat Political Lawfare, and a witch hunt at a level never seen before” , Mr. Trump responded to the accusations.