Former President Donald Trump is touting his wealth ahead of New York Attorney General Letitia James’ $250 million lawsuit accusing her of inflating his net worth.
Last year, James filed a civil suit against the Trump Organization, the ex-president and three of his adult children, accusing them of misrepresenting their company’s assets in order to obtain favorable loans and tax advantages. His daughter Ivanka Trump was removed from the list of defendants following an appeals court ruling in June.
The trial, which was scheduled to begin Oct. 2, was temporarily suspended last week after Trump sued New York State Supreme Court Justice Arthur Engoron, who is presiding over the case. Regardless, a hearing on James and Trump’s motions for summary judgment is expected to take place Friday.
Trump wrote in a Truth Social article Monday that James “hates Trump” and has “no case,” insisting that his “worth” is much more impressive than what the attorney general says and that he has “very little” debt.
Alex Wong
“It turns out that my financial statements show a VALUE that is significantly greater than what I have shown to very well represented (by leading law firms!) and highly sophisticated financial institutions and banks,” he said. Trump wrote. “Also shows that each statement carries a disclaimer strongly urging these institutions to do their own analysis and not rely on the financial statements presented.”
“Plus, great liquidity – Very little debt to assets!” he added. “In other words, there’s no reason for Trump to hate Letitia James!”
News week contacted James’ office for comment via email Monday.
Trump has repeatedly criticized James, a Democrat, for allegedly “hating” him and engaging in alleged “election interference” while campaigning as the leading Republican candidate in the 2024 presidential election.
The former president also denounced suggestions that his net worth may be lower than he has claimed in the past, insisting in a fiery Truth Social article earlier this month that he had “ BILLIONS OF DOLLARS MORE” that James “CLAIMED VICIOUSLY AND FALSELY”. “.
James claims there is “undisputed evidence” showing that Trump “presented significantly and materially inflated asset values” to banks and insurers every year from 2011 to 2021. The annual discrepancies were $812 million to $2 $2 billion, according to the lawsuit.
Trump’s motion for summary judgment argues that “all this debate around President Trump’s net worth is unnecessary” because the alleged asset inflation may not have impacted the loans in question and ” it is simply undisputed that he was and is an extraordinarily successful multi-billionaire. “
In addition to James’ trial and other civil court cases, the ex-president faces 91 criminal charges in four separate indictments, including a case in New York that also focuses on his alleged misrepresentation of assets.
Trump has pleaded not guilty to all charges, while claiming that all of his legal troubles were part of a “witch hunt” orchestrated by his political enemies.
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