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Proven claim is he knowingly inflated his net worth and the value of his assets in order to deceive banks and other eventual business partners into giving him bigger benefits.
It’s like someone adding a zero to their paycheques and bank accounts, then getting a hundred year mortgage on a landmark property because the bank is convinced they’re a safe investment.
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Trump fraudulently over valued his properties when using them as collateral for loans. He claimed his own penthouse in Trump Tower was worth $600 million while others say it worth less than third of that. His son claims Mar a Lago is worth over a billion but independent contractors say approx 75 million tops.
At tax time Trump would claim they were worth much less.
All of these claims of his are well documented in loan agreements and tax filings.
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Leshaches
davidual
@hugo7
Does anyone have a good link to an explanation of the current fraud charges?
I didn't realise it was a civil case.
Why is fraud civil?
On what basis is NY bringing the case? Is it them who suffered the loss, or is it like R v xxxx?