The New York attorney general’s office has accused former US President Donald Trump of increasing his personal net worth to financial institutions by more than $2.2 billion (2 billion euros) in one year.
This accusation is part of a civil lawsuit that the New York prosecutor, Letitia James, filed against Trump, some of his children and the Trump Organization, alleging efforts for more than a decade to inflate the wealth of the businessman in order to attract favorable loans.
According to calculations presented by prosecutors, Trump routinely overstated his personal financial situation from 2011 to 2021, and overstated his personal financial situation by comparable levels while in office.
“Correcting these and other flagrant and obvious deceptive practices by defendants reduces Trump’s net worth by 17 percent to 39 percent each year, or $812 million to $2.2 billion, depending on the year. “, says the document, which indicates that the greatest disparity took place in 2014.
In a recently released statement of the case, Trump testified that he had “very little or no” involvement in the preparation of the financial statements. Meanwhile, his legal team responded with a court filing indicating that the case should be dismissed because the Trump Organization’s finances are not deceptive, reports CNN.
Donald Trump Jr. and Eric Trump currently serve as executive vice presidents of the Trump Organization and have prominent roles in their father’s corporate arm. Ivanka Trump was previously included in the lawsuit, but a state appeals judge threw it out.