submitted "fraudulent valuations" for assets that were then used by himself, his eldest sons and his business to obtain better loan and insurance terms, a judge in New York decided Tuesday before ordering the cancelation of the company's business certificates in New York.
Eric Trump, who runs the Trump Organization's day-to-day operations, responded on X, previously known as Twitter, saying, "Today, I lost all faith in the New York legal system. Never before have I seen such hatred toward one person by a judge." Trial is currently scheduled to begin Oct. 2, although upcoming rulings may alter that schedule. Among other determinations, the trial will decide how much Trump will have to pay in penalties.
In total, Engoron wrote that the New York attorney general "submitted conclusive evidence" that the defendants overvalued their assets between $812 million and $2.2 billion.