New York AG’s office alleges Trump inflated his net worth by as much as $2.2 billion in 1 year

Trump Accused of Inflating Net Worth by $2.2 Billion in a Single Year, New York AG Claims

CNN: ‍New York⁤ Attorney General Alleges‍ Donald Trump⁤ Inflated Net Worth by ⁢$2.2 Billion

Lawyers for the ⁢New York attorney ​general’s office have made explosive allegations against former President Donald Trump, claiming that he inflated his net worth by​ as⁣ much as⁤ $2.2⁣ billion in just one year. These allegations are part of ⁣a⁤ civil ⁣fraud lawsuit filed against Trump, his adult⁤ sons, and the‌ Trump Organization.

The attorney general’s office further revealed that over a 10-year period, correcting the Trump financial statements​ for alleged misvaluations reduced his ⁤net worth by between 17-39% each year. This translates to a staggering $812 million‍ to $2.2 billion discrepancy, depending on the‌ year.⁣ The‍ largest disparity of $2.2 billion⁢ occurred in 2014.

These new allegations were made public by New ‍York ⁢Attorney General Letitia James, a Democrat, in a partial summary judgment motion. The motion sheds light ‌on the ongoing investigation into Trump’s⁢ financial practices.

Video of Trump’s deposition in the New York ⁢attorney general’s civil probe has‍ also been released. In the deposition, Trump invoked the Fifth Amendment and declined ​to answer questions. The deposition is part of Attorney General James’⁤ investigation into the Trump Organization’s business practices,⁣ which led to the lawsuit against Trump,⁣ his children, and executives of ⁤his business.

This latest development in​ the legal battle between Trump and the New York‍ attorney ⁤general’s office has captured public attention and raises further questions about the former president’s financial dealings.Video of Trump Deposition in New York AG’s Civil Probe Released

The New York Attorney‌ General’s office has released a video of former President Donald Trump’s deposition‌ in their civil probe. ‍The video⁣ provides a rare glimpse into Trump’s financial statements⁢ and ​the allegations of fraud against him. Here’s what you need to know:

Grossly Inflated Asset Values

According to the attorney general’s office, the evidence shows that Trump and‍ his organization presented grossly inflated asset values in their ⁢financial statements. These statements were then used to defraud ⁣banks and insurers in​ various business transactions. The attorney general’s ​office argues that the ​documents leave no doubt that Trump’s asset values do not reflect their true worth.

Trump’s Defense

Trump’s lawyers ‌have responded by filing a motion‍ to dismiss the⁢ case, claiming that the financial statements were not​ misleading. They ⁢argue that the case should ⁢be thrown out, as no parties were ⁢harmed by the alleged fraud.

The True Net Worth

The attorney​ general’s office has ‌determined that Trump’s net worth between ⁢2011 and ⁤2021‍ is​ likely no ​more than ‌$2.6 billion, significantly less than the stated⁣ net worth of up to $6.1 billion. ⁣They believe that‌ Trump’s properties were not ​accurately⁤ valued in professional appraisals.

False or Misleading Statements

The attorney general’s office is seeking a ruling that Trump and others ‍made false or misleading financial ‍statements from 2011 to⁣ 2021. They claim‌ that Trump benefited from inflating his assets, receiving favorable loan terms⁣ and insurance rates as a ⁣result.

Awaiting the Judge’s Decision

The judge is⁣ expected to rule on the motions just before the⁢ trial begins. The outcome of ⁣these motions will ⁤determine whether the case proceeds to trial or is dismissed.

Denial of Wrongdoing

Trump and his lawyers ⁣have denied any wrongdoing. They argue​ that the financial statements⁢ were ​not misleading and that the‍ Trump Organization‌ never ⁤missed a loan ‌payment. They believe the⁤ case should be dismissed since no parties were harmed.

Deposition Testimony

To support their argument, Trump’s lawyers point to deposition testimony from Rosemary Vrablic, the former head of private wealth management at Deutsche‍ Bank. Vrablic testified that Trump did not​ submit materially misleading⁢ statements to the lender. The bank made significant interest on the ​loans, further supporting Trump’s defense.

Insurer’s Perspective

David Miller, a former executive at Erie ​Insurance, ‌testified that insurer Zurich did not rely on asset valuations when dealing with Trump. ‍This testimony adds another layer ‌to the defense’s argument.

Upcoming Trial

The $250 million lawsuit is⁣ set to‍ go ⁢to trial in ⁤October. This trial is ‍just the beginning of several months of civil ⁤and criminal trials for Trump.⁤ While he is not required to attend the fraud trial, he may ⁣choose⁣ to testify in his defense.

Insight from Trump’s Deposition

During his deposition, Trump stated ⁣that the financial statements⁣ were primarily prepared by his former ‍CFO and that he had minimal involvement in creating them. This‌ insight into ​Trump’s role in the financial statements will be crucial in determining his level ⁣of responsibility.

Stay Tuned

As the⁣ trial approaches, all‍ eyes will be ‍on the courtroom to see how this case unfolds. The‌ outcome‍ could have significant implications for⁢ Trump and his ⁢reputation.Trump and his sons face a⁤ high-stakes lawsuit seeking $250 million and a five-year ban on ‍real estate transactions. ​The lawsuit alleges that ⁤they inflated the value of ⁢properties, including Trump Tower ⁣and Mar-a-Lago. This story has⁤ been updated with new developments.
Title: Trump Accused of Inflating Net‍ Worth by $2.2 Billion in a Single Year, New York AG Claims


Former President Donald Trump has once⁢ again found himself embroiled in controversy, this ⁢time facing allegations of inflating his net worth ​by ​a staggering $2.2 billion⁤ in a single ⁢year. The claims,​ made by the New York Attorney General ‍(AG), have raised concerns about potential ​financial misconduct and the accuracy of ‍Trump’s ⁣financial disclosures. This article delves into the ​allegations, their potential ‍implications, and ⁤the ⁣response⁤ from Trump’s camp.

The Allegations

According to the New⁤ York AG, Letitia James, an investigation​ into Trump’s financial ‌records revealed a significant discrepancy in his ⁣net worth. ⁢The⁤ probe focused on Trump’s⁢ financial statements submitted to lenders, tax authorities, and‍ potential investors between‌ 2011 and 2019. The AG alleges that Trump artificially inflated‌ his net ‍worth by ⁢$2.2 billion in ​2015, ⁢a ​move that potentially misled lenders ‌and investors.

The investigation claims that ⁢Trump’s alleged inflation of his net worth was achieved by manipulating the value of⁢ his assets, including real estate holdings, brand value, and other business ventures. By inflating⁤ his net worth,⁣ Trump could have secured more favorable loan terms, attracted ‌potential investors, and enhanced his⁢ public image as a successful businessman.

Implications and Potential Consequences

If the allegations against Trump are proven true, they could have serious legal and financial implications. Inflating⁤ net worth ⁣for personal⁤ gain ​could constitute fraud, potentially​ leading⁤ to criminal charges and hefty fines. Moreover, such actions undermine the integrity of financial markets and erode public trust ⁢in business leaders.

The investigation⁢ also raises questions about the accuracy of Trump’s financial disclosures‌ during‍ his presidency. ​Accurate financial disclosures are crucial for assessing potential conflicts of interest and ensuring⁣ transparency in public office. If ⁤Trump knowingly provided false information, it⁣ could further ‍tarnish his reputation and potentially lead to legal consequences.

Response from Trump’s Camp

Unsurprisingly, Trump has vehemently denied the allegations, dismissing them as politically motivated attacks. In a statement, Trump’s spokesperson, Jason Miller, ‍called the ‍investigation a “witch hunt” and accused the New York AG of pursuing ‌a biased agenda. Trump’s legal ‌team is expected to challenge the allegations in ⁢court, arguing that they lack merit and are part of a broader effort to⁣ undermine his legacy.


The allegations of Trump inflating⁢ his net worth by $2.2 billion in ‍a single year have once again⁣ thrust the former president⁣ into⁤ the spotlight. The investigation by the New York AG raises⁣ serious concerns‍ about potential financial⁣ misconduct and‍ the accuracy of Trump’s financial disclosures. If proven ‌true, the consequences could be severe, both legally and financially. As the legal battle unfolds, the public awaits the outcome, ⁣which⁢ could have far-reaching implications for ⁢Trump’s reputation and ⁤the broader perception of business ethics in the United States.

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