Key takeaways:
- New York Attorney General Letitia James’ office has alleged that former President Donald Trump routinely overstated his personal net worth to financial institutions by as much as $2.2 billion one year, or 38.5%.
- The lawsuit, which was filed in October 2020, seeks $250 million in damages from Trump, his three eldest children, and the Trump Organization.
- The case is scheduled to go to trial in October, and the outcome could have major implications for the former president and his family.
New York Attorney General Letitia James’ office has alleged that former President Donald Trump routinely overstated his personal net worth to financial institutions by as much as $2.2 billion one year, or 38.5%, according to a filing made public Wednesday.
The allegations were raised in an Aug. 4 filing seeking a partial summary judgment in the office’s 2022 lawsuit accusing members of the Trump family and Trump Organization executives of orchestrating an extensive, fraudulent scheme related to valuations of property and Trump’s personal financial statements.
The filing claims that Trump overstated his net worth by between $812 million and $2.2 billion each year between 2011 and 2021. The case is scheduled for trial in October, but the filing seeks to have the court declare that Trump and his company violated New York’s civil and business laws.
The lawsuit, which was filed in October 2020, seeks $250 million in damages from Trump, his three eldest children, and the Trump Organization. The lawsuit alleges that the defendants engaged in a pattern of persistent illegal conduct, including fraud and other violations of New York law.
The filing is the latest development in the ongoing legal battle between the New York Attorney General’s office and the Trump family. The case is scheduled to go to trial in October, and the outcome could have major implications for the former president and his family.
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