NEW YORK — While running his father’s family real estate empire, former President Donald Trump bloated his net worth by a staggering $2 billion, New York Attorney General Letitia James charged in asking a Manhattan judge to rule against the Trumps before their upcoming $250 million civil fraud trial, according to court filings unsealed Wednesday.
James asked State Supreme Court Judge Arthur Engoron to resolve one of the fraud claims facing the Trumps encompassing a chunk of the case slated for trial Oct. 2 by recognizing a “mountain of undisputed evidence” of rampant fraud.
“No trial is required for the Court to determine that (Trump) presented grossly and materially inflated asset values in (financial filings) and then used those (filings) repeatedly in business transactions to defraud banks and insurers,” the filing said.
The AG alleges Trump overstated his net worth by up to 39% by recording wildly inflated values for Trump-owned skyscrapers, golf courses and residential properties, including his Mar-a-Lago resort in Palm Beach, Florida.
The Trumps are accused in the suit of using the bogus financial statements to defraud banks, insurance companies and other business partners to the tune of “hundreds of millions of dollars in ill-gotten savings and profits.”
Trump claimed $6.7 billion