West News Wire: In a civil fraud complaint filed against former President Donald Trump, his adult sons, and the Trump Organisation, attorneys from the New York attorney general’s office asserted that Trump overstated his net worth by as much as $2.2 billion in only one year.
According to a CNN story, over the course of ten years, the attorney general’s office said that after correcting the alleged errors in Trump’s financial documents, his net worth was reduced by a range of 17–39% annually.
Depending on the year, this correction results in a reduction of between $812 million and $2.2 billion yearly. Notably, the state’s statistics show that in 2014, there was a $2.2 billion disparity, the greatest ever.
According to the story, Democrat Letitia James, the attorney general of fresh York, presented the fresh charges in a partial summary judgement request that was made public on Wednesday.
In a civil fraud complaint filed against former President Donald Trump, his adult sons, and the Trump Organisation, attorneys for the New York attorney general’s office said that Trump inflated his wealth by up to $2.2 billion in a single year.
Donald Trump claimed to have had little to no role in gathering the financial depositions in a newly made public deposition from the court procedures. In retaliation, Trump’s legal team filed a court petition arguing for the case’s dismissal. They argued that the Trump Organization’s financial statements weren’t deceptive.
The trial for the next $250 million case is set for October, commencing a protracted period that will include both civil and criminal prosecutions involving the former president. Although Trump won’t be required to attend the six-week civil fraud trial because it is a civil case, there is a chance he may decide to provide testimony in his own defence.
The financial ramifications are severe for Trump and his family. Letitia James, the attorney general, is pursuing a $250 million damage lawsuit. A permanent injunction barring Trump and his sons from serving as executives or directors of any company registered with the state of New York is another goal of hers. Additionally, she wants to stop them from making any new real estate purchases for a duration of five years.
The legal case claims that Donald Trump, along with his grown sons and the Trump Organization, profited by artificially increasing the worth of several assets. These assets encompass various properties such as Trump’s three-story apartment at Trump Tower, Mar-a-Lago, and a range of golf courses.