New York's attorney general on Wednesday asked a state judge to declare, even before the start of a trial, that Donald Trump committed fraud by submitting false statements to bankers and insurers and overstating his net worth by up to $2.23 billion.
She is seeking at least $250 million from Trump, his adult sons Donald Jr. and Eric, the Trump Organization and others, and to stop the Trumps from running businesses in New York.
The filing said Trump's reported net worth peaked at $6.1 billion in both 2018 and 2019, when he was U.S. president, but would have been no more than $4.2 billion had he arranged for "full blown professional appraisals" of his properties.
James said Trump should have valued his penthouse triplex in 2016 at $119.9 million instead of $327 million, and valued Mar-a-Lago in 2018 at $25.4 million, based on its restricted use as a social club, instead of $739.5 million.
James said Trump should have valued his penthouse triplex in 2016 at $119.9 million instead of $327 million, and valued Mar-a-Lago in 2018 at $25.4 million, based on its restricted use as a social club, instead of $739.5 million.
So basically the banks didn't do their job of appraising the item they insured, never had to actually pony up any real money, and this is Trump's fault?
Or they did, and it letitiia James that is wrong in the values . I'd put my money in the banks. Of course it is possible that they did not care that they were wrong. I suring valuable properties goes well for them. Overvaluation only bad when shit goes south.
It's worth noting she did actually name the crime here. Jewish lenders were prevailed upon to give lower rates to Trump based on his increased net worth.
You can’t make this shit up.
So basically the banks didn't do their job of appraising the item they insured, never had to actually pony up any real money, and this is Trump's fault?
Or they did, and it letitiia James that is wrong in the values . I'd put my money in the banks. Of course it is possible that they did not care that they were wrong. I suring valuable properties goes well for them. Overvaluation only bad when shit goes south.
It's worth noting she did actually name the crime here. Jewish lenders were prevailed upon to give lower rates to Trump based on his increased net worth.