Former President Donald Trump refuted New York Attorney General Letitia James’s claims that he inflated his net worth and engaged in financial fraud.
“In the NYS A.G. Letitia James case, I was targeted, given no jury, no extensions, no commercial division, no constitutional rights, no anything! The Democrat judge hates Trump with a passion,” he wrote on Truth Social.
“The thing I have is a great case based on phenomenal numbers that show a net worth of billions of dollars more than she viciously & falsely claimed, very little debt, big cash, a powerful disclaimer clause, paid off loans, no defaults, ‘happy’ banks, great assets. I was defamed by NYS—election interference!”
Ms. James has brought a case against President Trump and two of his children in a multimillion-dollar civil lawsuit and is seeking to bar him from doing business or engaging in real estate acquisitions in New York for five years.
She is also seeking to bar him and his children from serving in any high-level executive roles in any company in New York.
She is also seeking $250 million in penalties.
Summary Judgment and Testimony
On Wednesday, Ms. James urged the judge in a court filing to give a summary judgment on one of the seven claims she has brought against President Trump.
She argued that an “overwhelming amount of evidence” established that President Trump committed fraud and submitted false statements to bankers, inflating his wealth by somewhere between $812 million and $2.2 billion each year.
“While this is just the tip of a much larger iceberg of deception Plaintiff is prepared to expose at trial–which would result in carving off billions more from Mr. Trump’s net worth–it is more than sufficient to permit this Court to rule as a matter of law that each SFC from 2011 to 2021 was false or misleading,” Ms. James wrote.
Also on Wednesday, President Trump’s lawyers released, in a court filing, the nearly 500-page transcript of a seven-hour-long interview the former president gave when he was deposed for the case in April.
In the hours-long deposition, the former president was questioned about the management and dealings of the Trump Organization, where he detailed the value of several of his properties.
“I never got a default notice. I paid interest every quarter, every month even before it was due, if it came on a holiday,” he said, testifying that the banks and lawyers they worked with had profited and were satisfied with the deals.
By Catherine Yang
