James accuses Trump, three of his adult children and the Trump Organization of lying for a decade about the value of his assets, in a “stunning fraud” designed to obtain better terms on bank loans and insurance.
On September 26, Judge Arthur Engoron of the New York state court in Manhattan found “conclusive evidence” that Trump inflated his fortune.
What is Trump accused of?
The judge detailed that the magnate overvalued properties such as his Mar-a-Lago estate in Florida, his penthouse in Manhattan’s Trump Tower and several office buildings and golf courses.
Engoron also ordered the cancellation of certificates that allow some of Trump’s companies, including the Trump Organization, to operate in New York.
James is seeking at least $250 million in damages. He also wants a ban on Trump and his sons Donald Jr. and Eric from running businesses in New York, as well as a five-year ban on commercial real estate activity for Trump and the Trump Organization.