Over the past two years, former President Donald Trump has faced a slew of civil and criminal cases…and now a recently unsealed case in New York may be the most serious one yet.
The state’s Attorney General Letitia James is bringing a $250 million civil fraud suit against the 45th President, claiming he “grossly and materially” inflated asset values to defraud banks and insurers out of hundreds of millions in profits.
If found guilty, this could not only cost him major damages but also bar his family from running or directing businesses in New York for up to five years.
The newly unsealed court documents allege that President Trump purposely inflated his net worth by $2 billion between 2014-2015.
This was done by overvaluing assets such as Manhattan skyscrapers, golf courses and residential properties, and Mar-a-Lago compound in Palm Beach, Florida.
AG James claims to have hard evidence that these assets were actually valued at $4.5 billion instead of the estimated $6.7 billion reported by The Trump Organization at the time.
As part of her case she includes public statements made by President Trump accusing her of being racist and saying that a nuclear attack would have happened had he not chosen to serve as president instead of pursuing his lucrative career path.
State Supreme Court Judge Arthur Engoron is now tasked with deciding on whether a partial summary judgment should be passed before the case goes to trial.
A ruling against him could mean major financial repercussions as well as an indefinite ban on any real estate deals in New York City for himself or other members of his family business associates.
Of course, President Trump continues to accuse prosecutors on both sides (Democrat & Republican) conducting politically motivated witch hunts against him due to rising poll numbers ahead of potential 2024 presidential run.
However, solid evidence presented here may spell doom for his ambitions if found guilty this time around.
