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Judge rules Donald Trump defrauded banks, insurers while building real estate empire

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Judge rules Donald Trump defrauded banks, insurers while building real estate empire

NEW YORK (AP) — A judge ruled Tuesday that Donald Trump committed fraud for years while building the real estate empire that catapulted him to fame and the White House, and he ordered some of the former president’s companies removed from his control and dissolved.

Judge Arthur Engoron, ruling in a civil lawsuit brought by New York Attorney General Letitia James, found that Trump and his company deceived banks, insurers and others by massively overvaluing his assets and exaggerating his net worth on paperwork used in making deals and securing loans.

Engoron ordered that some of Trump’s business licenses be rescinded as punishment, making it difficult or impossible for them to do business in New York, and said he would continue to have an independent monitor oversee Trump Organization operations.

If not successfully appealed, the order would strip Trump of his authority to make strategic and financial decisions over some of his key properties in the state.

Trump, in a series of statements, railed against the decision, calling it “un-American” and part of an ongoing plot to damage his campaign to return to the White House.

“My Civil rights have been violated, and some Appellate Court, whether federal or state, must reverse this horrible, un-American decision,” he wrote on his Truth Social site. He insisted his company had “done a magnificent job for New York State” and “done business perfectly,” calling it “A very sad Day for the New York State System of Justice!”

Trump’s lawyer, Christopher Kise, said they would appeal, calling the decision “completely disconnected from the facts and governing law.”

Engoron’s ruling, days before the start of a non-jury trial in James’ lawsuit, is the strongest repudiation yet of Trump’s carefully coiffed image as a wealthy and shrewd real estate mogul turned political powerhouse.

Beyond mere bragging about his riches, Trump, his company and key executives repeatedly lied about them on his annual financial statements, reaping rewards such as favorable loan terms and lower insurance costs, Engoron found.

Those tactics crossed a line and violated the law, the judge said, rejecting Trump’s contention that a disclaimer on the financial statements absolved him of any wrongdoing.

“In defendants’ world: rent regulated apartments are worth the same as unregulated apartments; restricted land is worth the same as unrestricted land; restrictions can evaporate into thin air; a disclaimer by one party casting responsibility on another party exonerates the other party’s lies,” Engoron wrote in his 35-page ruling. “That is a fantasy world, not the real world.”

Manhattan prosecutors had looked into bringing criminal charges over the same conduct but declined to do so, leaving James to sue Trump and seek penalties that aim to disrupt his and his family’s ability to do business.

Engoron’s ruling, in a phase of the case known as summary judgment, resolves the key claim in James’ lawsuit, but several others remain. He’ll decide on those claims and James’ request for $250 million in penalties at a trial starting Oct. 2. Trump’s lawyers have asked an appeals court for a delay.

“Today, a judge ruled in our favor and found that Donald Trump and the Trump Organization engaged in years of financial fraud,” James said in a statement. “We look forward to presenting the rest of our case at trial.”

Trump’s lawyers, in their own summary judgment bid, had asked the judge to throw out the case, arguing that there wasn’t any evidence the public was harmed by Trump’s actions. They also argued that many of the allegations in the lawsuit were barred by the statute of limitations.

Engoron, noting that he had rejected those arguments earlier in the case, equated them to the plot of the film “Groundhog Day.” He fined five defense lawyers $7,500 each as punishment for “engaging in repetitive, frivolous” arguments, but denied James’ request to sanction Trump and other defendants.

James, a Democrat, sued Trump and the Trump Organization a year ago, accusing them of routinely inflating the value of assets like skyscrapers, golf courses and his Mar-a-Lago estate in Florida, padding his bottom line by billions.

Engoron found that Trump consistently overvalued Mar-a-Lago, inflating its value on one financial statement by as much as 2,300%. The judge also rebuked Trump for lying about the size of his Manhattan apartment. Trump claimed his three-story Trump Tower penthouse was nearly three times its actual size, valuing it at $327 million.

“A discrepancy of this order of magnitude, by a real estate developer sizing up his own living space of decades, can only be considered fraud,” Engoron wrote.

On X in the wake of the ruling, Eric Trump insisted his father’s claims about Mar-a-Lago were correct, writing that the Palm Beach estate is “speculated to be worth well over a billion dollars making it arguably the most valuable residential property in the country.” He called the ruling and the lawsuit “an attempt to destroy my father and kick him out of New York.”

Under the ruling, limited liability companies that control some of Trump’s key properties, such as 40 Wall Street, will be dissolved and authority over how to run them handed over to a receiver. Trump would lose his authority over whom to hire or fire, whom to rent office space to, and other key decisions.

“The decision seeks to nationalize one of the most successful corporate empires in the United States and seize control of private property all while acknowledging there is zero evidence of any default, breach, late payment or any complaint of harm,” Kise said after the decision.

James’ lawsuit is one of several legal headaches for Trump, the Republican front-runner in next year’s election. He has been indicted four times in the last six months — accused in Georgia and Washington, D.C., of plotting to overturn his 2020 election loss, in Florida of hoarding classified documents, and in Manhattan of falsifying business records related to hush money paid on his behalf.

The Trump Organization was convicted of tax fraud last year in an unrelated criminal case for helping executives dodge taxes on perks such as apartments and cars. The company was fined $1.6 million. One executive, Trump’s longtime finance chief Allen Weisselberg, pleaded guilty and served five months in jail.

James’ office previously sued Trump for misusing his charitable foundation to further his political and business interests. Trump was ordered to give $2 million to charity as a fine while his own charity, the Trump Foundation, was shut down.

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Associated Press reporters Eric Tucker in Washington, D.C., Jill Colvin in Summerville, South Carolina and Bernard Condon and David B. Caruso in New York contributed to this report.

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How can a tax calculator simplify your tax filing process?

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Tax filing season can be a stressful time for many people. There’s a lot of paperwork to gather, and the tax code can be complex and confusing. However, a tax calculator app can help to simplify the tax filing process and make it less stressful.

Here are some of the ways that a tax calculator app can simplify your tax filing process:

  • Accurate calculations: A tax calculator app assist you to to appropriately calculate your taxes, deliberating all of your applicable income, deductions, and credit. This will let you to keep away from overpaying your taxes or making steeply-priced errors in your tax go back.
  • Easy to apply interface: Tax calculator apps are generally clean to apply and navigate, even for people without a tax revel in. This makes it easy to calculate your taxes and prepare your tax go back while not having to lease a professional tax preparer.
  • Convenience: Tax calculator apps are available from everywhere with a web connection. This approach that you could calculate your taxes at your convenience, from anywhere in the international.
  • Speed: Tax calculator apps can calculate your taxes in seconds, saving you time and trouble.
  • Tax making plans: Tax calculator apps also can assist you to plot your taxes and make informed choices approximately your finances. For example, you could use a tax calculator app to look how one of a kind tax deductions and credits will affect your tax liability.

In addition to these standard blessings, some tax calculator apps also provide capabilities which can make the tax filing manner even less complicated, together with:

  • Tax audit practice: Some tax calculator apps can help you to prepare for a tax audit by using reviewing your tax go back for capacity errors and omissions.
  • Tax coaching assistance: Some tax calculator apps can offer step-by way of-step commands and assistance with finishing complex tax forms.
  • Electronic tax submitting: Some tax calculator apps will let you to electronically file your tax return, saving you time and trouble.

Overall, a tax calculator app can be a precious device for taxpayers of all ranges of enjoy. By simplifying the tax filing procedure and making it extra efficient, tax calculator apps can assist taxpayers to save money and time.

Here are a few suggestions for selecting a tax calculator app:

  • Look for a comprehensive tax calculator app that can calculate all sorts of taxes, including profits tax, income tax, and property tax.
  • Choose an app with an smooth-to-use interface and accurate tax calculations.
    Make certain the app is up to date regularly with the cutting-edge tax laws and regulations.
  • Consider the usage of an app that offers additional capabilities which include tax audit preparation, tax education help, and digital tax submitting.

By following those guidelines, you could pick a tax calculator app that will help you to simplify your tax submitting procedure and make it less annoying.

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Live match blog – India vs Australia Final 2023/24 – Cricket Insights

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Live match blog - India vs Australia Final 2023/24 - Cricket Insights

Australia need 241! That’s the same total England and New Zealand made in the 2019 final.

The key to bowling on a slow pitch is to keep to your discipline and limit the damage. Australia chose to bowl knowing the margin of error was less than zero. They came face to face with that when Rohit Sharma was going bonkers at the start. And they survived it because their fielding has been unreal.

Travis Head pulled off a catch that may well rival the one Kapil Dev took in 1983.

India went 97 balls without a boundary; they managed just four since the end of the 10th over. They thought they were consolidating. But in came Pat Cummins, dismissing Virat Kohli. He is the first fast bowler to complete his full 10 overs in this World Cup and not concede a boundary. Later Mitchell Starc found reverse swing. In the knockouts he’s taken six wickets at an average of 14.

Adam Zampa saw the pitch being slow and he too took pace off, going down to 84 kph once. He gave away just one four in his 10 overs. Australia sized up the conditions and responded to them perfectly.

Head and David Warner and Cummins and Zampa were saving boundaries all over the place. The field placements were excellent too. They had an offside sweeper out for Rohit because they guessed he would try to hit them off their lines and lengths by making room to the leg side. They had deep third man very fine to Suryakumar Yadav because his V is behind the wicket, not in front, and along with that gave him no pace to play his ramps and scoops.

This game, if they win it, and there’s still a long way to go, especially if there’s no dew, was made back in the drawing board.

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Tim Henman suggests Carlos Alcaraz is the greatest of all-time in one key area

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Carlos Alcaraz in action


We may be a little too early to suggest Carlos Alcaraz could get into the discussion over who is the greatest male player of all time, but the Spaniad is certainly excelling in one key area.

Having lost his opening match to Alexander Zverev, Alcaraz knew only victory over previously unbeaten Medvedev would be enough to qualify for the semi-finals.

He achieved the feat in style, wrapping up a 6-4 6-4 victory to join the Russian in the last four on his debut in Turin.

Alcaraz’s superior sets record means he tops the group and will face Djokovic in a rematch of their unforgettable Wimbledon final, while Medvedev meets fourth seed Jannik Sinner, the only player yet to lose a match.

It was an impressive performance from Alcaraz after he lost his first match of the event against Alexander Zverev, as he continued an alarming slump in form that started with a defeat against Medvedev at the US Open.

Now the 20-year-old Spaniard is roaring back to his best, with his win against Andrey Rublev backed up by a victory against his great friend Medvedev.

During his commentary stint on the Alcaraz vs Medvedev match, former British No 1 Henman suggested the young Spaniard has separated himself from the greatest players the game has ever seen with his movement on the court.

“Is he the best mover to have ever played the game?” asked Henman.

“There have been some phenomenal movers, but from where I am sitting, I haven’t seen many quicker.

“We have had some great movers in the sport, but Alcaraz is right up there.

“There have been plenty of great movers in tennis, but his flexibility and control at the end of it is exceptional. His movement is just phenomenal.”

Novak Djokovic fans will argue their man has redefined how to move on a tennis court in the modern era, with his ability to slide on hard courts and contort his body into unnatural positions a skill that has helped him dominate the men’s game.

Roger Federer was also a divine mover when he was at his best, with his graceful presence on the court giving the impression that he was moving through the gears with relentless ease.

Rafael Nadal has also been a remarkable mover, with his dominance on clay courts helped by his sliding ability that has taken the sport on that surface to a while new level.

Now Henman may have started the ball rolling on a movement debate that will have no definitive answer, with Alcaraz admitting his movement was a big issue as he tried to find his feet on grass this summer.

The young Spaniard struggled on the surface in his first match at The Queen’s Club tournament in June, but quickly master the art of moving on grass as he lifted the trophy at that event and then went on to win Wimbledon.

“The most difficult part is to move well on grass,” said Alcaraz. “You need to be more careful than other surfaces, so for me to move on grass is the most difficult.

“The most comfortable (thing) is going to the net and playing aggressively all the time. For me it is similar to other surfaces with my style. Playing that style is comfortable and I like it.

“There are a lot of players who slice on grass. I am not one of them, so I have to think about the movement. I have to be focused on every movement and shot. For me it is more tiring when you are moving on grass. It is totally different, so you have to be really specific.”

Alcaraz’s youthful body allows him to be dynamic on court and that helps his movement, with the genius he can display on court helped by his ability to get to the ball quicker than his rivals.

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