Trump Criminal Trials, page-6725

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"...The seeds of the state’s case date back to 2019...."

2023

Ruling Confirms Trump Used Fraud to Hype Property Values
In 2019, ProPublica revealed stark inconsistencies between what the Trump Organization had reported to tax authorities and what it told lenders about the finances of one of its towers. A judge this week ruled the company had committed fraud.
Sept. 29, 2023

New York State Supreme Court Justice Arthur Engoron, having previously made a preliminary finding that Trump, his sons and some Trump Organization executives “had a propensity to engage in persistent fraud by submitting false and misleading Statements of Financial Condition,” granted a partial summary judgment in favor of the state of New York. “Even with a preliminary injunction in place,” his lacerating opinion noted, “and with an independent monitor overseeing their compliance, defendants have continued to disseminate false and misleading information while conducting business.”

Engoron canceled certificates for Trump entities controlling some of the former president’s properties, which they need to operate legally in New York. Trump could also be required to give up a portion of profits linked to the properties, depending on the outcome of a civil trial that is scheduled to start next week. An appeals court on Thursday said the trial can proceed without delay.

The seeds of the state’s case date back to 2019. In February of that year, former Trump lawyer Michael Cohen claimed in a congressional hearing that Trump had manipulated the values of his assets. “It was my experience that Mr. Trump inflated his total assets when it served his purposes, such as trying to be listed amongst the wealthiest people in Forbes,” Cohen testified, “and deflated his assets to reduce his real estate taxes.”

More:-
https://www.propublica.org/article/trump-fraud-ruling-property-valuation-michael-cohen