Trump New York Fraud Ruling Will Ramp Up Pressure on Lenders, Accountants, Expert Says

Published on February 16, 2024

Judge Arthur Engoron’s ruling in the long-running civil fraud trial of former President Donald Trump will also increase pressure on, and scrutiny of, lenders and appraisers in the commercial real estate market, a realtor has told The Epoch Times. The ruling not only imposes a $355 million penalty on President Trump but also bars him from operating businesses in New York for three years, suspends his sons Eric and Donald Jr. from doing so for two years and slaps each of them with $4 million fines. In his 92-page legal opinion, Judge Engoron directly and repeatedly contradicted the testimony of expert witnesses called by the defense to uphold the validity of representations on the Trump Organization’s statements of financial condition. These were the documents that representatives of the organization supplied to Deutsche Bank to establish the values of various Trump properties, such as the Mar-a-Lago resort, the Trump International Hotel and Tower, 40 Wall Street, the Trump National Doral Golf Club, the Old Post Office, and Trump International Golf Links Aberdeen, as part of the commercial loan application process....

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