Former President Donald Trump was bragging about his wealth before New York Attorney General Letitia James filed a lawsuit accusing him of inflating his net worth.
Last year, James filed a civil lawsuit against the Trump Organization, the former president and his three adult children, accusing them of misrepresenting business assets to obtain favorable loans and tax benefits. His daughter Ivanka Trump was removed from the defendants’ list following the appeals court’s ruling in June.
The trial, originally scheduled to begin on October 2, was temporarily suspended last week after Trump sued New York State Supreme Court Judge Arthur Ngoren, who is presiding over the case. Regardless, a hearing on James and Trump’s summary judgment motions is expected to take place on Friday.
Trump wrote in a Truth Society post on Monday that James “hates Trump” and “has no case,” insisting his “value” is much more impressive than the attorney general says, and His debts are “very small.”
Alex Huang
“It turns out that my financial statements showed a much higher value than what I had shown (by top law firms!) and the value of highly sophisticated financial institutions and banks,” Trump wrote. “It was also shown that every Each statement contains a disclaimer, urging these institutions to conduct their own analysis and not rely on the financial statements provided.”
“Also, there is great liquidity – very little debt relative to assets!” he added. “In other words, it makes no sense for Trump to hate Letitia James!”
Weekly newspaper James’ office was reached for comment via email Monday.
Trump has repeatedly lashed out at James, a Democrat, saying he “hates” him and engaging in what he calls “election interference” while he is running as the leading Republican candidate in the 2024 presidential election.
The former president also slammed suggestions that his net worth may be lower than he has claimed in the past, insisting in a fiery Truth Society post earlier this month that his net worth was “more malicious” than James’ and falsely claimed billions of dollars more.”
James said there was “indisputable evidence” that Trump “significantly overstated the value of assets” to banks and insurance companies every year from 2011 to 2021. The lawsuit says the difference ranges from $812 million to $2.2 billion annually.
Trump’s motion for summary judgment argued that “all controversy surrounding President Trump’s net worth is unnecessary” because the alleged inflation may not have affected the underlying loans and “there is no doubt that he was and is Still a very successful billionaire.”
In addition to James’ lawsuit and other civil court matters, the former president faces 91 felony criminal charges in four separate indictments, including a case in New York that also involves him allegedly lying about his assets.
Trump has pleaded not guilty to all charges while claiming that all of his legal woes are part of a “witch hunt” orchestrated by his political opponents.
