The New York Attorney General Letita James filed a lawsuit accusing Donald Trump and his 3 grown children and executives of his company of flagrantly manipulating property valuation to deceive lenders insurance brokers and tax authorities into giving them better rates on bank loans and insurance companies and to reduce their tax liability.
From 2011 to 2021 this 2-year investigation covered 23 properties is seeking $250,000,00. in damages in this 222-page civil complaint, ask the New York Superior Court to bar Trump, his children and executives of his Trump Organization from acquiring any commercial real estate or receiving loans from financial institution for 5 years,
He inflated the value of his apartment at Trump Towers from 11,000 square feet to 30,000 and then valued the apartment at 327 million. He valued 12 apartments from $750,000.00 each to $49 million even though they were under rent control, because the tenants could not be forced to move.
This started when Michael Cohen his personal attorney testified against him and went to prison for his part in the fraud. He inflated his Net Worth. The Attorney General is referring this case to the Internal Revenue Service, the same IRS that put Al Capone in prison in the 1930's when the FBI couldn't send him to prison for murder. She is also referring this case to the Attorney General of Southern District of Manhattan for criminal consideration. He is not the "Art of the deal" but the Art of the Steal.
No comments:
Post a Comment