On Wednesday, former President Donald Trump said that he believed New York Attorney General Letitia Jam would resolve her case against him. He stated that he was not guilty and had issues with this statement.
These remarks were made as James, the former president, lashed out at James’ $250 Million lawsuit. He claimed Trump had lied about his property value when he applied for loans to expand and improve his real estate business.
Trump doubled his claim that his property value is high when he spoke to Sean Hannity in Mar-a-Lago, Wednesday. He cited the deceit of Mar-a-Lago.
That is when he revealed: ‘I actually never thought that she would bring a case, and she brought it. The reason she brought it was that she didn’t have one.
‘I was of the impression that she wanted to settle,’ he claimed. ‘But I had a problem because how do you pay something even if it’s a small amount of money if you’re not guilty.’
The former president also noted that in his loan applications, he puts in a disclaimer telling creditors to appraise the values themselves — an apparent defense against the suit.
He then went on to refer to the lawsuit as ‘just a continuation of a witch hunt that began when I came down the escalator of Trump Tower,’ and suggested that James had been after him since she first ran for office.
Ex-President Donald Trump stated Wednesday that he thought New York Attorney general Letitia James would resolve his case against her
He spoke out during an interview from Sean Hannity’s Mar-a-Lago house.
Trump stated that she campaigned for it four years back, and it was a vicious effort. She just spoke about Trump, and she said, “We’re gonna get him. We’re gonna indict him. We’re gonna get him.”
He said that she didn’t know anything about me. He claimed that he had not heard of her before, but that he saw this woman.
Trump said that she had stated, “We’re going to get him,” and her entire campaign was built on this. “Then, she attacked us. We have been discussing this for many years.
Trump stated, “We went down the escalator. It started.”
FOX News asked Trump whether he had ever submitted a loan application while he was the president of the Trump Organization. Trump answered: ‘Well you know, I make loans, but have very little debt.
He added: ‘They have demeaned me for years with this stuff, and now they find out that I have very little debt, very, very little, a lot of cash — we have a great company and we have among the best assets anywhere in the world.
‘I went through, they were demeaning me constantly these people. He said that there was something wrong with them. This apparently refers to Letitia James.
“I truly believe they hate my country.”
Hannity offered Hannity a defense to the ex-president, noting that the loaners are ‘fiduciary responsible to decide the property’s value.
The ex-president also stated that there was a disclaimer in each of his loans applications that said the estimates had been done by Trump Organization management and that creditors should do their own appraisals.
At that point, Hannity seemed to offer Trump a defense — saying loaners have ‘a fiduciary responsibility to determine what the value’ of each property is.
The former President responded by claiming that each loan application he made was subject to a disclaimer.
It basically states, “Get your people. You’re at own risk. It was done by management. Don’t believe every word you hear.
It simply states that if you are going to borrow money, you have to get your own appraisers, lawyers and all the other necessary tools.
Trump said that although he didn’t own a mortgage on many of his properties, an appraiser would visit and assess it in comparison to nearby homes.
Letitia James, New York AG announced Wednesday that her office will sue former President Donald Trump’s adult children
Trump swiftly reacted to the accusation of the Attorney General that she was a racist.
Trump’s comments on Hannity came just hours after calling James, an African-American, a ‘racist,’ and accusing her, among other things, of bringing forward the suit to aid her’really low poll numbers.
‘Another Witch Hunt by a racist Attorney General, Letitia James, who failed in her run for Governor, getting almost zero support from the public, and now is doing poorly against Law & Order A.G. candidate, highly respected Michael Henry,’ Trump wrote in a post on Truth Social.
She said, “I had no idea this case would be brought” until I noticed her very poor poll numbers. She is a fraud who campaigned on a “get Trump” platform, despite the fact that the city is one of the crime and murder disasters of the world under her watch!’
In a follow-up post minutes later, Trump added: ‘Attorney General Letitia “Peekaboo” James, a total crime fighting disaster in New York, is spending all of her time fighting for very powerful and well represented banks and insurance companies, who were fully paid, made a lot of money, and never had a complaint about me, instead of fighting murder and violent crime, which is killing New York State.
“She is an inept A.G. who lacks talent to fight crime. Record numbers of New Yorkers are fleeing New York.” Bye, bye!’
James announced that she filed her suit after reviewing’millions” of documents and working with an investigative team.
She claimed that the president and his three adult children, Eric, Ivanka and Don Jr ‘persistently’ inflated the value of assets
James had said earlier in the day Wednesday that Trump and his children engaged in ‘numerous acts of fraud’ in a dramatic press conference as she announced the suit against the former president.
She provided documents proving that Trump, his children and grandchildren have been accused of raising property values in an effort to get loans to expand their real estate businesses.
It does not count as the Art of the Deal if you claim you have more money than you actually have. James was referring to Trump’s famous book, “It’s the art and the steal.”
Trump’s three adult children Eric Jr. and Ivanka Trump were specifically mentioned by the New York Attorney General. He said that they “persistently” inflated assets’ value.
According to her, she had reviewed “millions” of documents with an investigator team and said that she was going to sue Trump because he was trying generate profit for his family, himself and company.
James said he did so ‘to cheat the system and to cheat all of us,’ and is seeking $250 million – while asking a judge to bar Trump and his adult children from serving on boards, obtaining lending in the state, or engaging in real estate purchases for a period of five years.
Trump will keep his financial interests in the property, even if the judge decides against him.
James indicated that her civil suit was not hers, but she said that she would forward any evidence she finds to authorities.
She stated that Trump inflated his net worth when trying to get loans to expand his realty empire.
James stated that Trump’s financial statements are ‘greatly overinflated, grossly excessive, and objectively falsified’. James went on and detailed many of these valuations.
Elle accused them of fabricating’more 200′ misleading and false asset valuations.
She claimed that Trump committed ‘intentional, deliberate fraud’ in doubling the size of Trump Tower’s penthouse apartment and thereby putting it at a loss.
Trump stated that her apartment had a total area of 30,000 sq. feet. “In actuality, the apartment was less than 11,000 sq feet.” According to the overestimated square footage, it was estimated that the apartment cost $327million.
She stated that to this day, there has never been a New York City apartment for sale at such a high price.
Mar-a-Lago, $730M instead of $75M; apartments inflated 65 times. $127M for a losing golf course: How Trump broke down properties New York AG claimed Trump inflated and why – as she claims to be the fraud
Morgan Phillips, Politics Reporter For Dailymail.com
After a three-year probe into the former president’s finances New York attorney general Letitia James filed a civil lawsuit against Donald Trump on Wednesday for alleged ‘numerous acts of fraud.’
She told reporters that she had reviewed’millions upon millions of documents’ and was now suing Trump to prove that he violated the law. This is part of Trump’s efforts to earn profits for his family, company, and himself. James specifically named Trump and his three adult children, Don Jr., Eric, and Ivanka Trump, and said they ‘persistently’ inflated the value of assets.
In November’s election, the attorney general claimed $250 million in financial benefits from the scheme. That includes transaction profits and interest savings. The statements were for the period 2001-2021. According to the ex-president, James, a black man, was deemed a ‘racist’ while she claimed that James herself is a ‘fraud’.
Below is a list of some of the most serious allegations in this lawsuit:
Trump said that his Trump Tower penthouse apartment measured three times the actual dimensions and was worth $327 million.
James claimed that Trump’s penthouse at Trump Tower was 32,000 square feet, when it was actually only 11,000 square footage. Trump estimated that the square footage was inflated and valued it at $327million, which James called “absurd.”
She stated that to this day, there has never been a New York City apartment for sale at such a high price.
Trump paid almost 10x the value of Mar-a-Lago for $739 million
James stated that Trump’s Florida golf resort had a value of $739M. It was created on the false basis that it was unrestricted and could be developed to residential use. Her office noted that Trump had donated residential development rights and strongly restricted the possibility of making changes to the property. The property was supposed to be valued at $75million and generates approximately $25 million per year, according to She.
Trump valued Park Avenue using the market value of each unit, even though these units were rent stabilized and had a much lower total worth at $84.5million.
Trump Park Avenue is a condo building that has 120 apartments and eight penthouses. The Trump Organization was valued at $84.5 Million in 2020.
Trump listed the property as worth $135.8million in a 2020 financial statement.
James’ team determined that Trump “ignored legal restraints” listed 12 units of rent-stabilized in his building as to what they might be worth if it could be rented at market value. Trump claimed they were worth $50 Million, more than 65x the value of units valued at $750,000 in 2010.
Trump’s Seven Springs Estate was valued at nearly 10 times the amount it was appraised only for a few years before, which is up to $291 Million.
In 1995 Trump purchased his 213-acre estate in Westchester County, New York for $7.5 million. Two decades later in 2006 it was found to be worth $30 million, but Trump’s statements of financial condition from 2011 to 2021 found the property to be worth $261 million and $291 million.
Trump’s 213-acre Westchester County Estate in New York was purchased for $7.5million by Trump in 1995
Trump listed 40 Wall Street’s value at more than $300 million. It was actually worth $530 million.
In 2012, the Trump Building at 40 Wall Street was worth $220 Million. Trump is currently leasing ground-lease space in this building. According to the Trump Organization, it was valued at $530million in 2013.
Trump stated to Nevada tax officials that Trump International Hotel and Tower Las Vegas had a much lower value than his financial statements at $108million.
Trump and Phillip Ruffin own a 50% stake in the hotel condo tower. In 2015 the Trump Organization submitted a $24,950,000 valuation to contest taxes they owed to Nevada, but the same year his statement showed the property to be worth $108 million.
Trump failed to account for escalating rental expenses in his Niketown valuation, which was in the middle of $400 million.
Trump holds two ground leases in a building that borders Trump Tower. He rented the space to Nike for years. Trump stated that the property had a value in the middle of $400 million and 2021, while James’ office determined the property worth between $225 million to $250 million. James claimed Trump did not account for escalating rental expenses.
Trump used “deceptive techniques” to record the values of his golf, and other social club memberships.
James’ office discovered that Trump employed a variety of “deceptive techniques” to value his 12 clubs. First, a fixed asset scheme. She claims Trump valued clubs using only fixed assets and did not include depreciation. Other schemes included incorporating the membership value into the valuation and listing Trump’s responsibility for such memberships at zero. Trump Organization used a ‘brand premium program’ to raise the value of clubs and courses. This was often done up to 30% to the Trump Brand. However, it claimed that no brand premiums were included.
Trump believed that Turnberry’s golf course, which was operating at a loss for the past several years, could be valued on a fixed asset basis at $127 Million.
Trump’s Turnberry golf course, in Scotland, was worth nearly $127million. James says the course has been losing money since that time and claims Trump was misleading by using a fixed asset valuation.