New York Attorney General's office accuses Donald Trump of inflating $2.2 Billion in a year
Also Read:‘Joe Biden will lead US to World War III,’ Donald Trump calls him 'mental catastrophe' This correction results in a decrease ranging from $812 million to $2.2 billion annually, depending on the specific year. Notably, the largest discrepancy of $2.2 billion occurred in the year 2014, according to the state's findings.
The report noted that the new allegations were made in a partial summary judgment motion made public Wednesday by New York Attorney General Letitia James, a Democrat. Lawyers representing the New York attorney general's office claimed in a civil fraud lawsuit against former President Donald Trump, his adult sons, and the Trump Organization that Trump artificially increased his net worth by up to $2.2 billion within a single year.
Also Read: US court sets date for Donald Trump's trial in plotting to overturn election results case In a recently disclosed deposition from the legal proceedings, Donald Trump stated that he had minimal, if any, involvement in the compilation of the financial depositions. In response, Trump's legal team submitted a court document advocating for the dismissal of the case.
They contended that the financial statements of the Trump Organization were not misleading. Also Read: Donald Trump endorses Vivek Ramaswamy as a possible Vice President candidate According to the attorney general's office, their team of valuation and accounting experts concluded that Donald Trump's net worth during any year from 2011 to 2021 should not exceed $2.6 billion.
This valuation contrasts with the publicly stated net worth of up to $6.1 billion. The attorney general's office further noted that if Trump's properties were accurately appraised by professionals, his net worth would likely be
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