2023-08-31 00:57:51
UNITED STATES
Trump reportedly ‘inflated’ his wealth by ‘billions of dollars’
The New York State Attorney General accuses Trump of “deliberately” manipulating the valuations of his assets. A civil trial is due to begin on October 2.
Updated31 August 2023, 02:57
Donald Trump on February 26, 2022 in Orlando.
Donald Trump, who wants to be re-elected president of the United States, has been accused since Wednesday by New York justice of having overvalued his assets by “billions of dollars” each year from 2011 to 2021, as part of a complaint to the civil for frauds of 2022.
New York State Attorney General (equivalent to regional Attorney General) Letitia James filed hundreds of pages of accusatory documents with the local Supreme Court to support the civil suit she filed in September 2022 to claim $250 million in damages from Donald Trump, his children and their Trump Organization group for tax and financial fraud.
Advantageous loans and tax cuts
Letitia James, an elected Democratic Party magistrate, accuses the Republican billionaire and his children of “deliberately” manipulating — up and down — the valuations of the group’s assets — golf clubs, luxury hotels and other properties — to obtain better loans from banks or to reduce their taxes.
A civil trial is due to be held in New York from October 2, following a preliminary hearing in the state Supreme Court on September 22.
In the court documents disclosed by the services of Letitia James, the prosecution believes that Donald Trump overstated his financial situation each year between 2011 and 2021 – including therefore when he was in the White House from 2017 to 2021 – “between 17 % and 39%, or between $812 million and $2.2 billion” each year.
“No need for a trial”
“Since at least 2011, the defendants and others working for them at the Trump Organization have falsely inflated the value of their recorded assets on Donald J. Trump’s annual financial statement by billions of dollars,” prosecutors write. yorkers. “Faced with this irrefutable evidence, the court does not need a trial to determine that the defendants have considerably inflated the value of their assets”, estimate the services of Letitia James in a court document.
Last January, the Trump Organization had already been sentenced in New York – but criminally – to a maximum fine of 1.6 million dollars for financial and tax fraud. The civil trial this fall promises, if it holds, to be more spectacular, before all the trials in 2024 awaiting Donald Trump, who hopes to return to the White House on January 20, 2025.
In the case of Letitia James’ complaint, Donald Trump has often denounced a “ridiculous” case led by a “racist” African-American magistrate.
(AFP)Show comments
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