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New York’s attorney general, Letitia James, has filed a court document alleging that former US President Donald Trump and his company artificially inflated their asset values by up to $2.2 billion. The report comes as part of holding former US President Trump accountable for the trial of fraud in October 2023.
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According to SCMP, James argues that there is « undisputed » evidence of inflated values from 2011 to 2021, making a strong case for « summary judgment » in the 2022 lawsuit against Trump and his Trump Organization. The lawsuit accuses « persistent and repeated » fraud by them and the trial is set to commence on October 2. The state’s other claims, include falsifying business records and issuing forged documents of financial statements.
Trump is accused of shifting the valuation of his assets in a scheme to convince banks to lend money to the Trump Organization on more favorable terms. https://t.co/JkKFpfypB1
The trial is separate from the four criminal prosecutions Trump is facing at the moment. Though civil cases don’t carry the risk of imprisonment, losing the fraud suit could result in a substantial $250 million payout to the state, along with a ban on Trump serving as a director of any New York-based company.
