Former US president, Donald Trump lashed out at a New York judge for ruling that he lied about his wealth for years and said it was a ‘sad day’ for the justice system.
In a major slap for the former U.S. president, the ruling by Justice Arthur Engoron will make it easier for state Attorney General Letitia James to establish damages at a later October trial.
New York Prosecutors claim he charged inflated property valuations with lenders and diminished them with tax authorities.
Engoron ordered the cancellation of certificates that let some of Trump’s businesses, including the Trump Organization, operate in New York, and ordered the appointment of a receiver to manage the businesses’ dissolution.
The judge described how Trump, his sons Donald Jr. and Eric, the Trump Organization, and other defendants made up valuations and inflated Trump’s net worth to suit their business needs.
Trump took to Truth Social to say it was ‘a very sad day for the New York State System of Justice’.
He said: ‘Today’s Ruling about a Company that has done a magnificent job for New York State fails to acknowledge the fact that Murder and all other forms of Violent Crime have reached record levels in New York State.
‘Can you imagine ruling against me for having done business perfectly, and yet letting people go on a rampage on the sidewalks of New York?
‘This is the Judicial conduct that is forcing thousands of companies to flee New York for other environs, while virtually nobody comes back to the City or State.’
The civil trial begins in October and could run through the end of the year, as Trump continues to lead the GOP field for the Republican presidential nomination.