Former President Donald Trump 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.

The judge immediately canceled all of the defendants’ business certificates in New York, and ordered that they must recommend no more than three potential independent receivers to manage the dissolution of the canceled LLCs within 10 days.

The move severely restricts Trump’s ability to conduct business in New York going forward.

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.”

“We have run an exceptional company — never missing a loan payment, making banks hundreds of millions of dollars, developing some of the most iconic assets in the world. Yet today, the persecution of our family continues…” 

https://abcnews.go.com/Politics/donald-trump-submitted-fraudulent-valuations-assets-secure-loans/story?