Donald Trump exaggerated his net worth and asset values to get better loans, a New York judge rules.
Donald Trump “repeatedly” misrepresented his wealth – by up to $3.6bn (£3bn) – to banks and insurers, a New York judge has ruled.
The decision resolves a key claim made by New York’s attorney general in her civil lawsuit against the former president.
“The documents here clearly contain fraudulent valuations that defendants used in business,” the judge wrote.
A trial to resolve the claims in the suit is scheduled to begin on Monday.
Attorney General Letitia James sued Mr Trump last September, accusing him and the Trump Organization of lying about his net worth and asset values between 2011 and 2021.
Ms James claimed the fraud was committed in order to get better terms on bank loans and pay less tax.
She earlier asked Justice Arthur Engoron of the New York state court in Manhattan to rule on her claims, saying that finding certain facts to be beyond dispute would speed up the trial.
As part of Tuesday’s decision, the judge also ordered the company to cancel its New York business certificates.
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