Trump overstated net worth by up to $3.6 billion each year, NY attorney general alleges in new filing
Published Fri, Sep 8 20239:38 AM EDT Updated 4 Hours Ago
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Kevin Breuninger
Former President Donald Trump’s net worth was inflated by billions of dollars each year more than the New York attorney general’s office originally estimated, the office alleged in a new court filing.
Attorney General Letitia James’ office found that Trump’s net worth in any given year between 2011 and 2021 was overstated by $1.9 billion to $3.6 billion.
Her sweeping fraud lawsuit alleges Trump, his adult sons and his businesses made fraudulent financial claims to obtain better loan terms and manipulate taxes for the Trump Organization.
Former President Donald Trump’s net worth was inflated by billions of dollars more than what the New York attorney general’s office initially found to be the case, Attorney General Letitia James said in a new court filing Friday.
Citing an extensive analysis by valuation and accounting experts, James’ office found that Trump’s net worth in any given year between 2011 and 2021 was overstated by $1.9 billion to $3.6 billion.
This new, larger number is “still a conservative estimate,” James wrote in the Friday filing, because those experts accepted at face value many of the elements of Trump’s financial statements “that would otherwise be rejected in a full-blown appraisal review.”
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https://www.cnbc.com/2023/09/08/trump-overstated-net-worth-by-up-to-3point6-billion-per-year-ny-ag-alleges-in-new-filing.html
