NY - $250m fraud against Former President Donald Trump, Trump Org., Eric, Donald Jr., Sept 2022, Trial 2 Oct 2023

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Thursday, April 13th:
*Deposition Hearing (@ am ET) - New York - Donald J. Trump, Ivanka Trump, Donald Trump, Jr. & Eric Trump & the Trump Organization is being sued by Letitia James, the New York attorney general & is leading a civil investigation (which cannot result in criminal charges) & has spent years looking at whether the company committed various acts of fraud over several decades. In the civil case, Ms. James has filed a lawsuit against Trump & three of his children accusing them of "astounding" fraud & deception. The lawsuit alleges that the family inflated their net worth by billions & is seeking $250m that was allegedly obtained through fraudulent means. It's also seeking bans on Trump & his children from serving in a leadership role in any New York business.
Trial set to begin 10/2/23.
The suit claims that Trump's Florida estate & golf resort, Mar-a-Lago, was valued as high as $739 million, but should have been valued at $75 million. Trump is also alleged to have overvalued assets such as his Trump Tower apartment; Trump Turnberry, his golf course in Scotland; and 40 Wall Street. Included in the 2011 valuation of Trump’s Westchester golf course in New York was the notion that new members would pay $200,000 in initiation fees, even though Trump instructed the club to reduce or waive those fees in a bid to increase club membership numbers, according to the lawsuit. The defendants are accused of skewing the worth of the Trump Park Avenue property, by putting a value on several units that was roughly six times more than what an outside firm calculated in an 2010 appraisal. James pointed to testimony from Donald Trump Jr., one of the defendants, that indicated the company was aware that the units were rent stabilized, which is the reason the appraiser had put them at the much lower value. Other Trump ventures – including his Doral golf resort in Florida, the Old Post Office property he leased for a hotel in Washington & Trump International Hotel & Tower in Chicago – are implicated in the lawsuit, with James saying that loans were extended for those properties because of inaccurate representations the Trump team made to banks. James also claimed that the Trump financial statements describes profits from real estate properties as being part of Trump’s liquid assets when they were in fact cash held by a real estate trust, Vornado Partnerships, in which Trump had a minority stake. Doing so contradicted both US accounting principles (known as generally accepted accounting principles or GAAP), according to the complaint. “All told, Mr. Trump, the Trump Organization & the other Defendants, as part of a repeated pattern & common scheme, derived more than 200 false & misleading valuations of assets included in the 11 Statements covering 2011 through 2021,” the lawsuit said.
The 220-page lawsuit arose from a three-year investigation & seeks multiple, corporation-crippling demands that will be decided by a Manhattan judge in October. James wants the company to pay back the $250 million Trump allegedly pocketed through misleading banks. She also seeks to ban Trump & his three eldest children — Donald Trump Jr., Ivanka Trump, & Eric Trump, who have all served as Trump Organization executives — from ever running a company in New York state again. New York Supreme Court Justice Arthur Engoron has warned Trump's side that the trial will start on time — on Monday, October 2, 2023 — "come hell or high water.
4/7/23 Update: Donald Trump’s new accounting firm struck a deal with the New York attorney general to hand over documents subpoenaed in the state. Whitley Penn LLP, the Texas-based firm Trump hired after he parted ways with longtime accountant Mazars USA LLP, reached the agreement with Trump & New York Attorney General Letitia James last week, according to an April 7 order signed by New York state court Justice Arthur Engoron.
4/11/23 Update: Former President Donald Trump is scheduled to return to New York City Thursday, 4/13/23 to sit for a second deposition as part of New York Attorney General Letitia James' $250 million civil fraud lawsuit. Trump did not answer many questions in the first deposition other than affirming he understood the ground rules and the procedures. When asked questions about his finances, Trump repeatedly invoked the Fifth Amendment and continued to do so for the next several hours.
 

The elder Trump's deposition is part of the discovery process of the case. Though he will likely be peppered with hundreds of questions on Thursday, it's unclear whether he'll provide any answers or cite his Fifth Amendment right against self-incrimination, as he did last August when he sat for a deposition before James' office a month before the suit was filed.

In a civil case, if a defendant asserts the Fifth Amendment, the jury can make what's known as an "adverse inference" and place weight against Trump for refusing to answer questions.

After Trump's first sit-down in August, the former president and his legal team have been able to glean more knowledge about the allegations against him because documents and other materials have been turned over to them.

Trump's three children named in the case were also deposed by the attorney general's office last year, with Ivanka and Donald Trump Jr., both providing answers to prosecutors, while Eric Trump invoked his Fifth Amendment right in 2020 in response to more than 500 questions.
 
thehill.com

Trump appears in New York for second deposition in fraud lawsuit

Former President Trump is in New York on Thursday for his second deposition in a fraud lawsuit spearheaded by New York Attorney General Letitia James (D). Trump is returning to New York after appea…
thehill.com



“I will be heading downtown to meet with a Racist who leaked that I would be there at 9:30 A.M.,” Trump wrote. “The leak makes it much more difficult for the Police and Secret Service to do their job. This civil case is ridiculous, just like all of the other Election Interference cases being brought against me. If I had a fair judge, this case would have never happened. MAGA!”



nypost.com

Trump raises fist before daylong deposition, calls NY AG Letitia James’ lawsuit ‘ridiculous’

Former President Donald Trump repeated his claim that Albany’s top prosecutor is “racist” — and that her lawsuit against him is “ridiculous” — before a day…
nypost.com nypost.com
 
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www.nbcnews.com

Trump spends 8 hours at New York AG's office for deposition in business fraud lawsuit

The $250 million suit accuses Trump of trying to inflate his personal net worth to attract favorable loan agreements.
www.nbcnews.com www.nbcnews.com

Donald Trump spent about eight hours at New York Attorney General Letitia James' office Thursday for a deposition in her $250 million lawsuit alleging fraud in the former president's real estate business practices.

Trump arrived at the Lower Manhattan office just after 9:30 a.m. ET, and his vehicle departed shortly after 6 p.m.

A spokesperson for the AG's office said that Trump spoke a lot and that James was present for part of that time. It was not immediately clear what questions Trump was asked.
 
JerseyGirl said:
www.nbcnews.com

Trump spends 8 hours at New York AG's office for deposition in business fraud lawsuit

The $250 million suit accuses Trump of trying to inflate his personal net worth to attract favorable loan agreements.
www.nbcnews.com www.nbcnews.com

Donald Trump spent about eight hours at New York Attorney General Letitia James' office Thursday for a deposition in her $250 million lawsuit alleging fraud in the former president's real estate business practices.

Trump arrived at the Lower Manhattan office just after 9:30 a.m. ET, and his vehicle departed shortly after 6 p.m.

A spokesperson for the AG's office said that Trump spoke a lot and that James was present for part of that time. It was not immediately clear what questions Trump was asked.
Click to expand...

That's a long time to go without two Big Macs.
 
www.rawstory.com

'Drop it': Trump argues Letitia James should let him walk after spending an 'interesting day' together

Donald Trump waited until almost noon of Friday to finally address his Thursday meeting with New York Attorney General Letitia James where he gave a deposition related to her investigation into the Trump Organization.The former president spent a reported seven hours speaking with investigators...
www.rawstory.com www.rawstory.com

"An interesting day spent with the Attorney General and her representatives. I strongly made my 'points,' they are IRREFUTABLE, and it is a case that should not go forward," Trump wrote.

He then added, " My company and overall value is actually far stronger and higher than shown in the so-called Financial Statement. The honorable thing to do would be 'DROP IT,' and spend all of this time, money, and energy on fighting Violent Crime in New York. It would make a big difference, and show real strength and courage by the A.G.!"
 
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More coming down:

The former president reduced his tax bill on the land listed as Seven Springs LLC by more than $3.5 million in 2015, when he first entered politics, and new filings show the property earned him less than $2,500 in the form of a vaguely labeled "rebate," although he valued the land at $50 million, reported The Daily Beast.

“There has been an enormous amount of valuation abuse," said Nancy Assaf McLaughlin, a national expert on conservation easements, who was speaking generally because she did not know the details of Trump's property. "People will come up with a ‘before value’ that exceeds anything a willing buyer would pay, using ‘subdivision development analysis’ and coming up with a hypothetical subdivision of lots."

“It has no relation to what somebody would actually pay you for that property on the open market," added McLaughlin, a law professor at the University of Utah. “Income tax deduction is inappropriately lucrative in those cases."

<modsnip: Not MSM or an approved source>
 
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<modsnip: Not MSM or an approved source>

Former President Donald Trump released a new video on Thursday in which he attempted to downplay an exclusive Daily Beastreport that a massive tax deduction that he received on one of his vacant properties may have been obtained fraudulently.

Trump said:

I had a done deal before running for president. They broke it. They treated me worse than they treated the Tea Party or the evangelicals. I could have easily made a very good deal with the IRS during my four years as president, but I thought it would be inappropriate to do so. Maybe a conflict of interest. I didn't want that. Besides, I already had a deal from before my presidency, a deal which they chose not to. So now I'm demanding the original deal without late changes and the rules and regulations. So that deal would be harder to make. Most people would say that after watching the Biden family take advantage of government, I should have made a deal during my term. To me, it was a conflict. I thought it was inappropriate, so I didn't do so. But this is the price you pay for being honest in the USA of today.

<modsnip: Not MSM or an approved source>
 
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www.thedailybeast.com

Michael Cohen Is Getting Dragged Into Yet Another Trump Case

The former fixer has been involved in four Trump cases. Now he’s being called into a fifth.
www.thedailybeast.com

Michael Cohen will be deposed by Trump’s attorneys on Friday, where he is expected to answer questions about whether he ever saw the tycoon fake the value of his many business properties.
 
sds71 said:
www.forbes.com

Ivanka Trump Ditches Attorneys In Fraud Suit, Splitting From Don Jr. And Eric

Ivanka Trump replaced the lawyers she shared with her brothers in the New York attorney general’s lawsuit on Friday, according to a court filing.
www.forbes.com www.forbes.com
Click to expand...

A sign of a split in the siblings’ defense strategies emerged on March 6, when one of the attorneys representing just Ivanka wrote to the judge, asking the him to delay the trial. The letter claimed, “The complaint does not contain a single allegation that Ms. Trump directly or indirectly created, prepared, reviewed or certified any of her father’s financial statements. The complaint affirmatively alleges that other individuals were responsible for those tasks.”

The break became clearer last week. On Tuesday, the attorneys representing just Ivanka, Figel and Kellogg, withdrew from the case. Three days later, Bennet Moskowitz of Troutman Pepper informed the courtthat he was taking over as Ivanka’s counsel and that Robert and Farina, the attorneys Ivanka shared with her brothers, were no longer representing her.

Moskowitz, who previously represented the estate of Jeffrey Epstein, is now Ivanka’s sole attorney on the case.
 
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