Donald Trump liable for business fraud, rules New York judge in civil case against former president’s business

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Donald Trump has committed fraud by repeatedly misrepresenting his wealth by hundreds of millions of dollars, as ruled by New York judge.

The ruling was a part of the civil case against the former president and his family business. It said that he has defrauded banks and insurers for years.

Mr. Trump and other associates have argued that they have never committed a fraud. However, the ruling will be a big blow to Mr. Trump and can hamper his ability to do business in the state.

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New York Attorney General Letitia James had accused Trump, his two adult sons, and the Trump organisation of inflating their properties’ value by more than $2 billion, in order to suit the needs for their business.

James also claimed  that the defendants produced false financial statements and records to get better terms on their loans, insurance deals, and to pay less tax.

On Tuesday, Judge Arthur Engoron in the New York state court issued the decision after Ms. James requested a summary ruling before the case goes to trial. She argued that finding certain facts to be beyond disputes would speed up the trial.