Donald Trump routinely overvalued his net worth by billions of dollars each year between 2011 and 2021, New York’s attorney general alleged on Wednesday.
In documents filed in support of an ongoing USD250 million civil suit against the former president, state Attorney General Letitia James claimed that Trump and some of his associates submitted “grossly inflated” numbers to banks and insurers “to secure and maintain loans and insurance on more favorable terms.”
The scheme resulted in “hundreds of millions of dollars in ill-gotten savings and profits,” the documents alleged.
James’ lawsuit against the current Republican frontrunner in the 2024 presidential race dates back to last year, when she accused Trump, some of his children and the Trump Organization business of tax and financial fraud.
The new documents allege Trump overstated his wealth each year between 2011 and 2021, including the years he was president, between 17 and 39 percent — amounting to USD812 million and USD2.2 billion each year.
If James’ civil case against Trump goes to trial, it will be one more for the candidate to have to juggle while also zipping across the country on the campaign trail.
Trump is facing four criminal trials for actions allegedly taken before, during and after his presidency — state cases in New York and Georgia and two federal cases in Florida and Washington.
