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    United States: Donald Trump accused of overvaluing his wealth every year between 2011 and 2021

    The former tenant of the White House is accused of having “deliberately” manipulated the valuations of the assets of the Trump Organization group for ten years.

    Donald Trump, who wants to be re-elected president of the United States, has been accused since Wednesday by New York courts of having overvalued his assets by “billions of dollars” each year from 2011 to 2021, as part of a complaint in civil for fraud of 2022.

    New York State Attorney General Letitia James sent hundreds of pages of accusatory documents to the local Supreme Court to support the civil complaint she filed in September 2022 to claim her children from Donald Trump and their group Trump Organization $250 million in damages for tax and financial fraud.

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    Letitia James, an elected magistrate from the Democratic Party, accuses the Republican billionaire and his children of having “deliberately” manipulated, upwards and downwards, the valuations of the group’s assets (golf clubs, luxury hotels and other properties) to obtain more advantageous loans from banks or to reduce their taxes.

    A civil trial is scheduled to be held in New York beginning October 2, following a preliminary hearing in state Supreme Court on September 22.

    Including when Trump was in the White House

    In the court documents revealed by Letitia James’ services, the prosecution estimates that Donald Trump overestimated his financial situation every year between 2011 and 2021 (including when he was in the White House from 2017 to 2021) “between 17% and 39%, or between $812 million and $2.2 billion” each year.

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    “Since at least 2011, defendants and others working for them at the Trump Organization have falsely inflated the value of their assets recorded on Donald J. Trump’s annual financial disclosure by billions of dollars,” prosecutors write yorkers.

    “Faced with this irrefutable evidence, the court does not need a trial to determine that the defendants have significantly inflated the value of their assets,” say the services of Letitia James in a court document.

    Last January, the Trump Organization had already been sentenced in New York, but under criminal law, to a maximum fine of $1.6 million for financial and tax fraud.

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    The civil trial this fall promises, if it takes place, to be more spectacular, before all the trials in 2024 which await Donald Trump, who hopes to return to the White House on January 20, 2025. In the case of the complaint of Letitia James, Donald Trump has often denounced a “ridiculous” case led by a “racist” African-American magistrate.

    Source: BFM TV

    This post is posted by Awutar staff members. Awutar is a global multimedia website. Our Email: [email protected]


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