The former President of the United States is accused of lying sometimes upwards and sometimes downwards in order to obtain favorable conditions from taxes or banks in order to obtain loans.
Donald Trump, who is seeking re-election as President of the United States, has been accused by New York courts since Wednesday, August 31, of overstating his assets by several “billions of dollars” each year from 2011 to 2021, according to a civil lawsuit Fraud from 2022.
New York State Attorney General (equivalent to regional attorney general) Letitia James sent hundreds of pages of accusatory documents to the local Supreme Court to support the civil lawsuit she filed in September 2022 seeking $250 million in damages of Donald Trump, his children and their Trump demanded tax and financial fraud organizing group.
A civil case from October 2nd
Letitia James, a Democratic judge-elect, accuses the Republican billionaire and his children of “intentionally” manipulating the valuations of the group’s assets – golf clubs, luxury hotels and other properties – up and down in order to obtain cheaper loans to require banks or to reduce their taxes. A civil trial is scheduled to take place in New York starting October 2nd, following a preliminary hearing in the state Supreme Court on September 22nd.
In court documents disclosed by Letitia James’ services, prosecutors estimate that Donald Trump overestimated his financial situation by “between 17% and 39%” each year between 2011 and 2021 – including when he was in the White House from 2017 to 2021. between $812 million and $2.2 billion” per year.
“Irrefutable evidence”
“Since at least 2011, defendants and others working for them at the Trump Organization falsely inflated the value of their assets listed in Donald J. Trump’s annual financial disclosures by billions of dollars,” prosecutors in York wrote. “Given this irrefutable evidence, the court does not need a hearing to find that the defendants have significantly increased the value of their assets,” said a court document from Letitia James Services.
Last January, the Trump Organization was sentenced in New York to a maximum fine of $1.6 million for financial and tax fraud – albeit under criminal law. This fall’s civil trial, if it takes place, promises to be more spectacular, ahead of all the trials in 2024 that await Donald Trump, who plans to return to the White House on January 20, 2025. In the case of Letitia James’ lawsuit, Donald Trump has often denounced a “ridiculous” case led by a “racist” African-American judge.