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Evidence Suggests Trump “Fraudulently Valued” His Assets – Mother Jones


Politics

Evidence Suggests Trump “Fraudulently Valued” His Assets – Mother Jones


Former President Donald Trump pauses as he speaks at a rally Saturday, Jan. 15, 2022, in Florence, Ariz. AP Photo/Ross D. Franklin

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New York Attorney General Letitia James has escalated her investigation into former President Donald Trump’s business practices, telling a judge that she has evidence that the Trump Organization gave lenders and insurance companies incorrect information about the value of his properties for years and that she now needs the court’s help to force Trump and his adult children to cooperate in the probe. 

Trump has a long record as a self-promoter who has offered wildly different assessments of his own net wealth and the size of his various properties. For example, on 9/11 he claimed that after the Twin Towers fell, his 40 Wall Street tower was the tallest building in New York when it definitely wasn’t even close. But in the instances outlined by James, the alleged misstatements are potentially quite serious. They were made in annual statements of financial condition—a document regularly prepared by the Trump Organization to assure financial partners about the status of Trump’s company. James’ filing says that “the evidence to date indicates that banks and other financial institutions relied on Mr. Trump’s financial statements in considering whether to grant Mr. Trump and the Trump Organization access to credit and coverage.” If Trump knew he was giving incorrect numbers and deceiving his lenders and insurance companies into giving him better terms or more money than he deserved, it could amount to fraud.

It’s been no secret that James is interested in the inner workings of the Trump Organization—or that Trump and his children weren’t being cooperative. But in the filing late Tuesday night, James laid out what she knows in very specific detail. James’ office included at least 268 exhibits, most of which were sealed. Based on their descriptions, those documents seem to include emails and letters sent by Trump or his children…



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