Trump Organization Falsely Valued Assets, Says NY AG

⚖️ NY Attorney General Letitia James filed a motion Tuesday asking a judge to order former President Trump and two of his children to appear for sworn testimony as part of her office’s civil investigation into the Trump Organization's financial dealings.

• In the court filing and an accompanying public statement, James’ office accused Trump’s company of using "fraudulent and misleading asset valuations to obtain economic benefits" including loans, insurance coverage, and tax deductions.
• In one example, prosecutors allege the valuation of Trump’s Manhattan apartment in 2015-16 ($327 million) was based on the assertion it was 30,000 square feet, despite the actual size being 10,996 square feet.
• James said her office hadn’t reached a conclusion about whether to take legal action. Trump is also facing a criminal investigation that’s being separately conducted by the Manhattan DA’s office.
• A spokeswoman for the Trump Organization said James’ allegations were baseless. The former president has accused the Democratic AG of launching a "politically motivated attack" and filed a lawsuit last month seeking to block her probe. (Context: James had campaigned on a promise to investigate Trump and his business dealings.)

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