New York attorney general has 'uncovered significant evidence' the Trump Organization committed fraud: report



New York Attorney General Letitia James on Tuesday offered new details about how the Trump Organization for years allegedly falsified the value of various New York City properties to secure favorable loan terms and reduce tax obligations.

CNBC reports that in a filing in a New York state court, James says her office has “uncovered significant evidence” suggesting that the Trump Organization’s financial statements for more than a decade relied on misleading valuations of its real estate assets. The filing asserts that potentially misleading valuations “and other misrepresentations” were used by the company owned by former President Donald Trump “to secure economic benefits — including loans, insurance coverage, and tax deductions — on terms more favorable than the true facts warranted."

The filing by James was made in response to the Trump Organization and Donald Trump’s appeal of a Manhattan state court judge’s order last month that Trump and two of his adult children, Donald Trump Jr. and Ivanka Trump, had to submit to interviews under oath by James' investigators.

She cited the example that Trump Organization financial statements from 2010 to 2012 “collectively valued” rent-stabilized apartment units that it owned at $49.59 million - a figure more than 66 times the $750,000 total value that an outside appraiser had assigned to those same units.

In another example, the company’s financial statements from 2012 through 2016, said that Trump’s triplex apartment in Trump Tower in Manhattan “exceeded 30,000 square and valued the apartment at up to $327 million based on those dimensions,” according to the filing.

But in 2017, the company’s statement “slashed the apartment’s value by two-thirds, sizing the residence at just under 11,000 square feet,” which is the figure specified in the offering plan for the building, the filing said.



from Alternet.org https://ift.tt/wgtpYLV
via sinceretalk

Comments

Post a Comment

Popular posts from this blog

PA GOP Senate candidate who says he 'started with nothing' actually grew up in a mansion

Image
David McCormick, who is Pennsylvania's presumptive Republican U.S. Senate nominee, has often suggested he grew up poor in a rural community. But a new report finds that his upbringing was far more affluent than he's suggested. The New York Times reported Friday that McCormick — a former hedge fund executive who lived in Connecticut as recently as 2022 — has been cagey with voters about his childhood. McCormick has tweeted that he was "raised in Bloomsburg working on his family's farm," said on a 2022 podcast that he " started with nothing " and told CBS News that same year that he " didn't have anything " growing up as the son of two schoolteachers. But according to the Times , McCormick's father, Dr. James H. McCormick , was appointed president of what is now Bloomsburg University by Gov. Milton Schapp (D) in 1973. He moved his family into Buckalew Place — the official mansion for presidents of the school that currently spans 5...
Read more

How misinformation could shape the Israel-Hamas war

Image
I wanted to interview Nicholas Grossman regarding the role of misinformation in the war between Israel and Hamas. In particular, I hoped to ask the professor of international relations at the University of Illinois, and senior editor of Arc Digital , about misinformation that arose from American reporting on an explosion at a hospital in Gaza. You know what? I ended up repeating a bit of misinformation! I asked him to lay out the facts about a blast that “killed hundreds, including kids,” and he said nuh-uh (not his words). In fact, Professor Grossman said, “there never were hundreds killed by an explosion at that hospital. Media reported that the hospital was destroyed by an Israeli airstrike killing 500, but that was based on something a Hamas-controlled agency said and was never supported by evidence.” Professor Grossman went on to say “what apparently did happen is something hit a nearby parking lot and caused a smaller explosion, most likely a rocket fired from Gaza towards I...
Read more

Trump was hit by glass fragments — not a bullet: report

Image
Law enforcement officials have claimed to two different sources that former President Donald Trump was not grazed by a bullet but rather by glass shards. The officials in question told both Newsmax's Alex Salvi and Axios' Juliegrace Brufke that Trump was hit by glass shards that may have erupted from the shattering of a teleprompter that was hit by gunfire. Earlier on Saturday, law enforcement sources confirmed that the person suspected of firing a weapon at a Pennsylvania Trump rally had been killed, as had at least one person in the crowd. Videos showed Trump grabbing his neck after apparent gunshots had been fired before Secret Service agents pulled him to the ground. They then took him away in an armored vehicle to a hospital where he was treated for injuries. The identity of the shooting suspect has not yet been released. from Alternet.org https://ift.tt/ILgqr53 via sinceretalk
Read more