Posted on 08/30/2023 6:09:27 PM PDT by thegagline
***Donald Trump “grossly” exaggerated his net worth on financial disclosure forms for a decade — cooking the books by as much as $2.2 billion in a single year, New York Attorney General Letitia James alleged i*** James’ office asked a judge to rule on parts of her $250 million lawsuit against the ex-president, his company the Trump Organization and kids Eric and Donald Trump Jr. over alleged “staggering” fraud.
For instance, Trump’s net worth in 2014 was placed at $5.77 billion on his disclosure form, when ***it was actually $2.2 billion less — or $3.55 billion, the filing claims.
The case is set for trial in October but James’ office argued the judge can at least rule on one of the fraud claims before then.
By allegedly lying on the forms for a decade, Trump, 77, received more favorable loan and insurance terms — “reaping hundreds of millions of dollars in ill-gotten savings and profits,” *** His net worth was actually between 17 and 39% — or $812 million to $2.2 billion — less than what he claimed on yearly statements of financial condition from 2011 through 2021***
To make a ruling on the one fraud claim, Manhattan Supreme Court Justice Arthur Engoron — who is overseeing the case — only needs to determine whether the statements of financial condition were misleading and whether Trump repeatedly used the forms for financial transactions, the AG said.
“The answer to both questions is a resounding ‘yes’ based on the mountain of undisputed evidence,” the filing claims.
***
He also claimed his Trump Tower triplex was 30,000 square feet when it was actually just under 11,000 square feet — placing the unit’s worth at $327 million, a price that no New York apartment has ever sold for, James argued in the suit. ***
(Excerpt) Read more at nypost.com ...
The AG is going to have her hands full as both sides of the contract and the “independent” experts will generally try protect their reputations during litigation. That said, there is often a weak link who could potentially flip for the state. Time will tell.
“.....New York Attorney General Letitia James alleged....”
enough said!
Turnabout is fair play.
Racist, Dumb and Jealous is no way to go through life.
The person who bought the apartment couldn’t tell it wasn’t 30,000 square feet instead of 11,000?
Got that? The Left claims that Trump minimizes his taxes, even though he inflates his own taxable net worth.
Right. A good way to get run out of Faber.
he can write anything he wants on the form...
it’s up to the banks to determine whether or not they believe him and weigh the risks.
Is it just me or does it seem like a particular “Perpetually Butt Hurt Race” is behind all these indictments?
So he overpaid his taxes?
Where did the ho get this info? And do we have her campaign info?
And Joe grossly understates his income.
I do not see Trump with a tape measure examining square footage. As for all the rest of the valuation, it all likely came from advisors.
But regardless of all that, lenders would need to do their own due diligence before agreeing to a loan as noted above.
It is interesting that the man is dealing with multiple billions. He’s not going to run out of legal fees.
This poses a problem for all of them.
Our Demonicrat overlords underreport their net worth by hiding millions of dollars off the books to avoid taxes and hide bribes.
But we're supposed to believe a racist, partisan, witch hunting, Soros funded, lying, good for nothing Dim?
And the Biden Cartel pays damn little..
GOT HIM NOW!!!
Burn dem short hairs but good!
/s
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.