Donald Trump ‘grossly’ exaggerated net worth – by as much as $2.2B in one year: NY AG

[mystery-ak]

 Donald Trump ‘grossly’ exaggerated net worth – by as much as $2.2B in one year: NY AG
By Priscilla DeGregory   
August 30, 2023 4:37pm

Former President 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 in court papers filed Wednesday.

The fresh claims came in documents in which 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.

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,” the Manhattan Supreme Court filing states.

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, the AG’s office said in the court docs.

For instance, Trump’s net worth in 2014 was placed at $5.77 billion on his disclosure form, when in reality 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.

more
https://nypost.com/2023/08/30/trump-exaggerated-worth-by-as-much-as-2-2b-in-one-year-ag/

[corbe]

   Does this mean he'll keep depending on his supporters to send $$$ to cover his legal fees and continue attacking Conservatives, asking for a Friend?

[DB]

It is up to the lender to determine what the borrower assets are worth.

[libertybele]

Ok, so we know that Trump is the King of Deception, what else is new?

[Bigun]

New York Attorney General Letitia James alleged in court papers filed Wednesday.

All I need to know. I wouldn't believe her if she told me water is wet.

[Kamaji]

Did he fail to provide the lenders will all requested information in connection with a financial due diligence of the requested loans?  If so, then he didn't commit fraud and it was up to the lenders to satisfy themselves through financial due diligence that he was an adequate credit risk and to price the loans accordingly.

[Hoodat]

It is up to the lender to determine what the borrower assets are worth.

Yep.

[roamer_1]

Did he fail to provide the lenders will all requested information in connection with a financial due diligence of the requested loans?  If so, then he didn't commit fraud and it was up to the lenders to satisfy themselves through financial due diligence that he was an adequate credit risk and to price the loans accordingly.

And EVERYBODY fluffs up their numbers for the bankers. 

[DB]

To clarify, hiding debt from a potential lender is fraud I believe. Otherwise, it is up to the lender to figure out how much your assets are worth to secure a loan.

[DefiantMassRINO]

A lot of people say a lot of things.

Prove it to a jury.