Trump Overstated Net Worth By Up To $2.2 billion, NY AG Says

The office of New York Attorney General Letitia James has alleged that former President Donald Trump overstated his net worth by hundreds of millions to over $2 billion each year between 2011 and 2021.

These claims were made in an August 4 filing seeking a partial summary judgment in the office’s 2022 lawsuit against members of the Trump family and Trump Organization executives. The lawsuit accuses them of orchestrating a fraudulent scheme related to property valuations and Trump’s personal financial statements.

In the filing, James’ office is seeking $250 million in damages and sanctions that could halt Trump Organization’s operations in New York and severely impact the business activities of Donald Trump, Eric Trump, and Donald Trump Jr. in the state.

The case is scheduled for trial in October, but James’ office is asking the judge to rule against the Trumps in one aspect of the case related to fraud. If granted, other claims, including allegations related to falsification of records and issuing false financial statements, will still be considered at trial.

The filing argues that there is ample undisputed evidence that Trump repeatedly presented inflated asset values in business transactions to defraud banks and insurers. A summary judgment motion contends that certain material facts are not in dispute, allowing the judge to make a decision based on them without a trial.

Trump’s legal team has not yet commented on this latest filing. Trump is facing multiple legal challenges, including surrendering to authorities in Fulton County, Georgia, where he faces charges related to efforts to overturn the state’s 2020 presidential election results. He is also facing charges in Manhattan and federal cases related to his financial records and his alleged interference in the peaceful transfer of power after the 2020 election. Trump has consistently maintained his innocence and accused prosecutors of political motives.

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