Once again, in a series of event that is becoming a habit to the international viewership, Mr. Donald J. Trump, the former president of the United States, loses against the American justice system.
Although the supply seems limitless, this particular case does stand out as the former president is ordered to pay $250 million dollars by the Attorney General of the state of New York, Letitia James, for financial wrongdoings centered around fraud.
In particular, Mr. Trump has overvalued his personal net worth by $3.6 billion on multiple occasions, mostly through inflating the value of the property held by himself and the Trump family, chief among which are Eric and Donald Trump Jr. who were personally involved in the case ruling.
Trump’s own apartment in Trump tower was valued at $327 million dollars, which was disputed by the Attorney General:
“No apartment in New York City has ever sold for close to that amount,” said Ms. James.
The Trump tower matter pales in comparison to the value claimed for Mar-a-Lago, Trump’s Florida estate and a club for the country’s wealthiest, which is said to be worth “well over” a billion dollars according to the Trump family, but was valued at $18 million.
Furious at the court ruling, Eric Trump tweeted:
“In an attempt to destroy my father and kick him out of New York, a Judge just ruled that Mar-a-Lago, in Palm Beach Florida, is only worth [approximately] “$18 Million dollars”… Mar-a-Lago is speculated to be worth [well] over a billion dollars making it arguably the most valuable residential property in the country. It is all so corrupt and coordinated.”
The financial wrongdoings and fraudulent claims were made in order to ensure higher loans, better insurance deals, and to lower their taxes, claimed the Attorney General, who is now seeking $250 million dollars for the false business records and financial statements.
The Trump Organization is ordered to cancel all its business licenses in the state of New York and recommend independent monitors to supervise the process within ten days.
The lawyers of the former president argued that the case be thrown out due to it causing no harm to the general public of the state of New York.
In a predictable fashion, Mr. Trump, who now faces 91 felony charges in 4 criminal cases while being the frontrunner in the Republican party’s primary race to the 2024 presidential election, has called this a “witch hunt”, and has sued judge Arthor Engoron.
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