Between 2011 and 2021, Donald Trump habitually overstated his net worth by billions of dollars, according to New York‘s attorney general. In documents filed in support of the ongoing $250 million civil suit, state Attorney General Letitia James claimed that Trump and some of his associates provided “grossly inflated” figures 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’ action against Trump, the current Republican frontrunner in the 2024 presidential election, dates back to last year when she accused Trump, some of his children, and the Trump Organization of tax and financial fraud.
To reduce taxes, Donald Trump and his children are also accused of inflating the value of various Trump Organization properties, such as golf clubs, luxury hotels, and other properties.
If James’ civil action against Trump gets to trial, it will be yet another thing for the candidate to deal with while traveling around the country on the campaign trail.
Trump is facing four criminal prosecutions for alleged activities performed before, during, and after his administration, including state lawsuits in New York and Georgia and two federal cases in Florida and Washington.
Trump has already condemned the investigation as a “witch hunt,” labeling James, who is Black, as “racist.”
