Former President Donald Trump walks to speak with reporters before departure from Hartsfield-Jackson Atlanta International Airport, Thursday, Aug. 24, 2023, in Atlanta.
Alex Brandon | AP
Former President Donald Trump‘s net worth was inflated by billions of dollars more than what the New York attorney general’s office recently believed to be the case, the AG said in a new court filing Friday.
Citing an analysis by valuation and accounting experts and taking into account other adjustments, the AG alleged that Trump’s net worth in any given year between 2011 and 2021 was overstated by $1.9 billion to $3.6 billion.
That is “still a conservative estimate,” New York Attorney General Letitia James alleged in the filing, because those valuation experts still accepted many of the assumptions used by the defendants in their annual financial statements.
James made the new claims in a filing opposing Trump’s request for a summary judgment in his favor in the AG’s sweeping civil fraud lawsuit against the former president, his adult sons and his businesses.
James is suing Trump and his co-defendants for allegedly defrauding banks, insurance companies and others to obtain better tax and loan terms for the Trump Organization. The prosecutor is seeking $250 million in damages.
Last week, James asked the court for partial summary judgment in the case, asserting that a “mountain of undisputed evidence” backed up her allegations.
In that filing, James wrote that “numerous deceptive schemes” used to inflate Trump’s total assets had a “staggering” cumulative effect of overstating his net worth by 17%-39% per year. That “translates to the enormous sum of $1 billion or more in all but one year,” the AG wrote.
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