Donald Trump ‘grossly’ exaggerated net worth – by as much as $2.2B in one year: NY AG

The New York Post ^ | 08/30/2023 | Pricilla DeGregory

[thegagline]

There are generally two sides to a loan. The applicant is required to be honest in his representations regarding the assets, liabilities, encumbrances, and valuations etc. The lender is expected to engage in due diligence regarding the applicant’s financial and credit history, assets, liabilities etc. In addition, appraisers, forensic accountants, and underwriters are utilized during the due diligence process. Hence, the valuations were arrived at by both sides of the contract- Trump’s team one one side, the lenders on tne other.

The AG is going to have her hands full as both sides of the contract and the “independent” experts will generally try protect their reputations during litigation. That said, there is often a weak link who could potentially flip for the state. Time will tell.

[patriot torch]

“.....New York Attorney General Letitia James alleged....”

enough said!

[blueunicorn6]

Turnabout is fair play.

[WeaslesRippedMyFlesh]

Racist, Dumb and Jealous is no way to go through life.

[TakebackGOP]

The person who bought the apartment couldn’t tell it wasn’t 30,000 square feet instead of 11,000?

[PGR88]

Got that? The Left claims that Trump minimizes his taxes, even though he inflates his own taxable net worth.

[frank ballenger]

Right. A good way to get run out of Faber.

[kiryandil]

No one takes our clown "justice" system seriously any more - except for the people under the guns of the enforcers of the corrupt thugs who pretend that we have a justice system.

[sten]

he can write anything he wants on the form...

it’s up to the banks to determine whether or not they believe him and weigh the risks.

[OHPatriot]

Is it just me or does it seem like a particular “Perpetually Butt Hurt Race” is behind all these indictments?

[libertylover]

So he overpaid his taxes?

[FlingWingFlyer]

Where did the ho get this info? And do we have her campaign info?

[GMMC0987]

And Joe grossly understates his income.

[Owen]

I do not see Trump with a tape measure examining square footage. As for all the rest of the valuation, it all likely came from advisors.

But regardless of all that, lenders would need to do their own due diligence before agreeing to a loan as noted above.

It is interesting that the man is dealing with multiple billions. He’s not going to run out of legal fees.

This poses a problem for all of them.

[mountainlion]

Our Demonicrat overlords underreport their net worth by hiding millions of dollars off the books to avoid taxes and hide bribes.

[Governor Dinwiddie]

So they are going to give President Trump a tax refund? Sweet!   /sarc

[Tell It Right]

The IRS audited Trump every year. Every year. And still found nothing.

But we're supposed to believe a racist, partisan, witch hunting, Soros funded, lying, good for nothing Dim?

[CMailBag]

And the Biden Cartel pays damn little..

[TangoLimaSierra]

GOT HIM NOW!!!

[lightman]

Burn dem short hairs but good!

/s