Tag

Asset Inflation

All articles tagged with #asset inflation

legalcriminal-justice2 years ago•2 min saved

"Michael Cohen's Testimony: A Combative Reunion with Trump in Fraud Trial"

Michael Cohen, former fixer for Donald Trump, will continue testifying at his fraud trial after a contentious first day. Cohen alleged that Trump instructed him and others to inflate his apparent fortune by selecting an arbitrary number and having executives increase the value of his assets to reach it. Trump, who sat in court, vehemently denies the allegations. The trial, focused on claims of conspiracy, insurance fraud, and falsifying business records, will determine the punishment. Cohen's testimony is central to the prosecutors' case against Trump, who has been accused of fraud by the judge. The trial is a bench trial, and if found guilty, Trump will not be sent to prison.

via The Guardian US|

#asset-inflation #donald-trump #fraud-trial

legalcriminal-justice3 years ago•4 min saved

"NY Prosecutors Accuse Trump of Inflating Net Worth by $2.2B"

New York Attorney General Letitia James has accused former President Donald Trump of inflating his family's real estate empire's net worth by $2 billion, according to unsealed court filings. James alleges that Trump and his co-defendants engaged in rampant fraud by presenting grossly inflated asset values in financial filings and using them to defraud banks and insurers. The fraud allegedly overstated the worth of Trump's assets by up to 39%, including properties such as Trump-owned skyscrapers, golf courses, and Mar-a-Lago resort. The attorney general's office claims a pattern of fraud spanning a decade and seeks to bar the Trumps from future commercial real estate contracts and loans if found liable. Trump's lawyers have requested summary judgment dismissing the case, arguing that the claims are time-barred and lack authority.

via New York Daily News|

#asset-inflation #civil-fraud-trial #donald-trump