A New York judge has ruled that Donald Trump committed "repeated" fraud by inflating the value of his real estate assets. The judge, Arthur Engoron, found that Trump and his company, the Trump Organization, routinely misled banks, insurers, and other lenders about the value of their properties in order to obtain loans and insurance at favorable terms.
The judge's ruling is a major victory for New York Attorney General Letitia James, who filed the lawsuit against Trump last year. James has accused Trump of engaging in a "bait and switch" scheme, inflating the value of his assets by billions of dollars on paper in order to secure loans and insurance, and then undervaluing the same assets when it came time to pay taxes.
Trump has denied all of the allegations against him, and his lawyers have vowed to appeal the judge's ruling. However, the judge's findings could have a significant impact on Trump's business empire, as it could make it more difficult for him to obtain financing and insurance in the future.
The judge's ruling could also damage Trump's reputation and make it more difficult for him to raise money for political campaigns.