Former United States President Donald Trump and his adult children, Eric and Donald Trump Jr., are facing a pretty massive problem as a New York Judge has determined that the family engaged in widespread fraud of banks and insurance companies that even involved his Mar-A-Lago golf estate in Florida.
According to a report from ABC News, Judge Arthur Engoron said that Donald Trump and the other defendants in the case have a “propensity to engage in persistent fraud.” The judge determined that Trump submitted “fraudulent valuations” for assets in order to obtain better loan and insurance terms.
These “fraudulent valuations” included his Mar-A-Lago resort, which the judge claims that Trump drastically overvalued by at least 2,300% compared to what it’s actually worth in reality.
“Engoron also found that Trump inflated the value of his Mar-a-Lago club by at least 2,300%, claiming the property assessed by the county between $18 million and $27.6 million was actually worth between $426,529,614 and $612,110,496,” ABC News reported on Wednesday.
This determination from the judge is a pretty major problem for Trump and the family ahead of the $250 million civil fraud trial set to begin next month in New York State. It will certainly be interesting to see how that trial plays out.