New York AG Letitia James filed a motion to compel testimony from Donald Trump and two of his children, Don Jr. and Ivanka, in a series of new fraud allegations.
The filing says that the Trump Organization misrepresented values of a series of major properties to financial organizations and the IRS.
James alleged the Trump Organization “used fraudulent and misleading asset valuations on multiple properties to obtain economic benefits, including loans, insurance coverage, and tax deductions for years.”
The misrepresentations, for example, included the size of his personal apartment in Trump Tower, overstating its value by approximately $200 million.
“The valuations of Mr. Trump’s triplex apartment in Trump Tower since at least 2012 were based on the assertion that the triplex apartment was 30,000 square feet in size,” the statement said. “However, the actual size of Mr. Trump’s triplex apartment was 10,996 square feet, and documents confirming that fact were signed by Mr. Trump himself in 2012.”
The Hill, Axios, Rolling Stone
You can read more from the press release by AG James that outlined direct involvement of Trump, Don Jr. and Ivanka here.
