Trump dismissive as New York attorney general accuses him of inflating his net worth by $2 billion

Donald Trump has vigorously defended himself against allegations made by the New York attorney general, Letitia James, who has accused him of inflating his net worth by a staggering $2 billion. The former president engaged in a closed-door testimony in April, during which he vehemently refuted the claims of fraud and inflated financial statements.

In his deposition, Trump asserted that his real estate empire was financially robust and dismissed the lawsuit brought against him as baseless. He underscored his contributions to the city’s skyline and lamented having to justify himself in such a manner. Trump further argued that the lawsuit lacked merit and urged for its dismissal, asserting that his financial statements were provided with a clear disclaimer urging third parties to conduct their own verifications.

Attorney General James, however, released a deposition transcript spanning 479 pages, revealing her claims that Trump had fraudulently overstated his net worth by up to 39% in some years. She contended that there was substantial evidence indicating that Trump and his company had deceived lenders, insurers, and other parties in various business transactions.

The legal battle now hinges on Judge Arthur Engoron’s determination of whether Trump’s annual financial statements were indeed false or misleading and whether they were used in business dealings. Trump’s lawyers have requested the case’s dismissal, emphasizing limitations on some allegations and asserting that the entities purportedly defrauded did not raise concerns about their dealings with Trump.

Trump’s tumultuous legal situation extends beyond this lawsuit, as he faces multiple indictments, including allegations of plotting to overturn the 2020 election results, hoarding classified documents, and falsifying business records. Amidst these challenges, he remains a frontrunner for the Republican presidential nomination in the upcoming election.

Throughout his testimony, Trump displayed a mix of verbosity, evasion, and assertiveness, occasionally delaying proceedings. His claims regarding the value of his properties, including Mar-a-Lago and a Miami golf course, were notably marked by “guesstimates,” suggesting potential inaccuracies in his financial disclosures.

Trump’s deposition also revealed his shift in focus during his presidency, where he claimed to have prioritized global affairs over his business interests. He cited his role in averting potential nuclear conflicts with North Korea as a reason for redirecting his attention away from his enterprises.

As the legal proceedings unfold, the fate of the lawsuit against Trump will be determined, potentially influencing his future business dealings and political aspirations. While Trump is not expected to testify in an eventual trial, his depositions may be presented as video recordings.

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More about Legal Battle

• New York Attorney General Letitia James
• Donald Trump’s Deposition Transcript
• Trump’s Legal Challenges
• Trump’s Business Empire
• Financial Fraud Allegations
• Nuclear Diplomacy with North Korea