Donald Trump Inflated Net Worth By $3.6B A Year, NY Attorney General Alleges In Latest Court Filing

New York Attorney General Letitia James has stepped up her case against former President Donald Trump, asserting that the former president exaggerated his net worth to a degree much higher than previously cited in legal documents.

What Happened: In a court filing on Friday, James' office contended that the deceit, orchestrated by the former president in collaboration with the Trump Organization, and his sons, Eric and Donald Trump Jr., allowed them to defraud lenders of substantial sums of money.

The recent disclosure suggests that Trump inflated his yearly assets by a figure that surpassed the earlier estimate of $2.2 billion, the New York Post reported.

Earlier allegations made by James' office were reportedly based on “undisputed evidence” of a series of financial misrepresentations spanning several years, including a false claim pertaining to the square footage of Trump’s penthouse in the Trump Tower.

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The latest filing submitted to the Manhattan Supreme Court revealed that the expert testimonies lined up for the October trial are expected to affirm an even greater discrepancy in the valuation of numerous assets, amounting to “billions more.”

The latest claims are based on what James' office called typical “methodologies” used in real estate transactions to ascertain property values. 

In response, Trump’s lawyers said in their own filing, “In the NY AG’s obsessive, compulsive attempt to 'get' President Trump, she even continues to unfairly drag his children Eric Trump and Donald Trump, Jr. along for the ride.” 

James' office is urging Manhattan Supreme Court Justice Arthur Engoron to issue a pretrial ruling in its favor based on allegations that Trump, his family and his company committed fraudulent activities and falsified financial records.

The lawsuit aims to levy hefty fines on Trump and impose stringent restrictions on his business ventures in New York.

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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.