Trump and his family businesses have been accused of inflating his net worth by $3.6 billion a year for a decade.
A court in New York (USA) found Donald Trump guilty of civil fraud and must now pay a fine of $354.9 million. As the investigation proved, the businessman and politician inflated the value of his own capital to deceive creditors. Reuters reported this on Friday, February 16.
“Trump has been accused of inflating his net worth by $3.6 billion a year for ten years, thereby deceiving bankers and forcing them to give him more favorable loan terms,” said report.
At trial, Trump denied wrongdoing and called the case a political vendetta by New York Attorney General Letitia James, an elected Democrat.
During his trial in November, Trump acknowledged that the value of some of his assets was inaccurate, but insisted that banks were required to conduct their own due diligence.
It can be recalled that the Federal Court of Appeals for the District of Columbia decided that former US President Donald Trump does not have presidential immunity in the federal case regarding the attack on the Capitol on January 6, 2021.
Earlier, the US Department of Justice published a 37-count indictment against Trump for mishandling classified documents.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.