[Photo Credit: Gage Skidmore]

Trump Erupts Over Report He’s Worth Significantly less Than He Claims

Donald Trump, a former president, reportedly vehemently denied the New York Attorney General’s assertion that he artificially inflated his net worth.

The assertion was made by the New York Attorney General Letitia James was part of the state’s lawsuit accusing Donald Trump, the Trump Organization, and Donald Trump Jr. and Eric Trump of commercial fraud.

“Since at least 2011, Defendants and others working on their behalf at the Trump Organization have falsely inflated by billions of dollars the value of many of the assets listed on Donald J. Trump’s annual statement of financial condition (‘SFC’), and hence his overall net worth for each of these years. Mr. Trump, and in some years the trustees of his revocable trust, submitted these grossly inflated SFCs to banks and insurers to secure and maintain loans and insurance on more favorable terms, reaping hundreds of millions of dollars in ill-gotten savings and profits.” James claimed in the memorandum.

“THE THING I HAVE IS A GREAT CASE BASED ON PHENOMENAL NUMBERS THAT SHOW A NET WORTH BILLIONS OF DOLLARS MORE THAN SHE VICIOUSLY & FALSELY CLAIMED, VERY LITTLE DEBT, BIG CASH, A POWERFUL DISCLAIMER CLAUSE, PAID OFF LOANS, NO DEFAULTS, ‘HAPPY’ BANKS, GREAT ASSETS. I WAS DEFAMED BY NYS – ELECTION INTERFERENCE!” Trump wrote in response on his truth Social Platform.

A $250 million punishment and a prohibition against the defendants operating businesses in New York are sought in the case.

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