Former President of the United States Donald Trump has been exposed in a fraud case while the scandal case with the porno star is going on.
court in New York fined him 350 million dollars after the accusation of taking a large loan from the bank by inflating the value of his assets was proved. At the same time, Trump and his associates have also been banned from doing business in New York.
Local time on Friday (February 16) the federal court in New York announced the verdict. However, Trump’s lawyer said that he will appeal against this verdict.
According to the ruling, Donald Trump took huge loans from banks by overstating the value of assets held in the names of himself and his two sons in New York.
Meanwhile, before the election, the Federal Court’s ruling is a big blow to Trump’s finances, analysts believe. Heavy fines as well as bans on business. All in all, the billionaire Trump empire is in turmoil.
However, as always, the former US president has denied the allegations of fraud. His lawyers said they will appeal against the verdict. Legal experts say that if the verdict is appealed, the verdict will be stayed until the High Court reviews the case. And if Trump wants to avoid fines or seizure of personal assets during the appeal, he will have to pay the money within 30 days.
In 2022, this civil case was filed against Donald Trump and his business in a court in Manhattan, New York, on charges of fraudulently obtaining loans and insurance benefits from banks by inflating property values. After the investigation, the court started the trial by forming a charge sheet against Trump and his associates on a number of charges, including showing the excess value of the property in obtaining a loan from Trump’s company and obtaining income tax exemption by showing the lower price of the same property, business records, insurance fraud and conspiracy.
Defense lawyers asked the judge to fine Trump and bar him from doing business in New York.
Former US President Donald Trump has been formally charged with several criminal offences. This Republican candidate is campaigning extensively to compete in this year’s presidential election.
