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LINK Judge rules Donald Trump defrauded banks and insurers while building real estate empire | AP News

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Engoron ordered that some of Trump’s business licenses be rescinded as punishment, making it difficult or impossible for them to do business in New York, and said he would continue to have an independent monitor oversee Trump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

HankHunter13 7 Sep 27
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No one is surprised to hear Der trumpf lied about... well about everything.

Yes, but no banks were hurt. LOL

@DenoPenno don lardo's rationale has become the basis for much of the business world thinking in the last 60 years. No one got hurt, until they did - the whole basis for the 1929 collapse was buying on margin, it all worked great until it didn't. All the safe guards put in place (the Glass-Steagall Act) in the 1933 were slowly being removed under Bush and the last bit by Bill Clinton. First we had the Savings and Loan crisis and then the great recession. Some speculate that the even with the Glass-Steagall Act still in place the truly creative thinking behind the housing banking crisis of 2005-2008 would have still occurred.

@silverotter11 it does feel that they will all take us down one way or another simply because of their greed.

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