Trump Inflated Net Worth By More Than $2 Billion, New York Attorney General Alleges
- Oops!Something went wrong.Please try again later.
Former President Donald Trump overstated his personal net worth in his business dealings by as much as $2.2 billion per year, the New York Attorney General’s office said in a court filing.
Trump falsely boosted his net worth by between $812 million to $2.2 billion each year from 2011 to 2021, according to the Wednesday filing. The filing is part of a civil lawsuit New York Attorney General Letitia James filed against Trump and three of his children for what she alleges were deceptive business practices.
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 and to garner more tax breaks.
In one case, Trump allegedly inflated the value of his triplex apartment at Trump Tower by nearly tripling its actual square footage. The incorrect figure “inflated the apartment’s value by approximately $100-$200 million each year from 2012 to 2016,” the filing says.
Trump, who recently lost a civil rape lawsuit and has been indicted four times this year on felony charges, hit James with his own lawsuit in November for waging a “crusade” against him.
Trump withdrew that lawsuit in January, just one day after he was ordered to pay nearly $1 million for filing a frivolous lawsuit against his 2016 opponent, Hillary Clinton.
