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submitted 10 months ago* (last edited 10 months ago) by MicroWave@lemmy.world to c/politics@lemmy.world

Donald Trump fraudulently inflated his net worth by as much as $2.2 billion per year, New York officials said in court filings unsealed Wednesday ahead of his upcoming civil fraud trial.

The new estimates came in filings from the New York state attorney general’s office, which is suing Trump, some of his adult children and his business empire for falsifying his net worth in an effort to obtain favorable terms from banks and insurance companies. The trial is set to begin Oct. 2.

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[-] FuglyDuck@lemmy.world 139 points 10 months ago

This certainly explains why he needs broke ass dumbasses to pay his legal fees for him.

So much winning!

[-] 0110010001100010@kbin.social 57 points 10 months ago

I love the poorly educated!

-Trump in 2016

There is a reason the GQP it trying to dismantle the education system in the US...

[-] FuglyDuck@lemmy.world 21 points 10 months ago

oh absolutely. ironically, he's just as dumb as his constituents.

[-] FlyingSquid@lemmy.world 14 points 10 months ago

Professor Kelley told me 100 times over three decades that “Donald Trump was the dumbest goddam student I ever had.” I remember his emphasis and inflection — it went like this — “Donald Trump was the dumbest goddam student I ever had.” Dr. Kelley told me this after Trump had become a celebrity but long before he was considered a political figure. Dr. Kelley often referred to Trump’s arrogance when he told of this — that Trump came to Wharton thinking he already knew everything.

https://www.dailykos.com/stories/2017/10/12/1705902/-Former-Wharton-Professor-Donald-Trump-Is-the-Dumbest-Goddam-Student-I-Ever-Had

[-] Nougat@kbin.social 17 points 10 months ago

Explains his having to get a bail bond, L, O, Fucking L.

[-] TheJims@lemmy.world 54 points 10 months ago

Is there anything that Trump doesn’t fraudulently inflate about himself?

[-] wahming@monyet.cc 57 points 10 months ago
[-] spider@aussie.zone 28 points 10 months ago* (last edited 5 months ago)
[-] the_post_of_tom_joad@sh.itjust.works 19 points 10 months ago

Id heard he lied or whatever but 215? Shouldn't he at least make it believable? Like pretend there's muscle under there or something.

[-] nutlink@kbin.social 16 points 10 months ago

Apparently we're suppose to believe he's an inch taller but 10lbs lighter than Patrick Mahomes of the Kansas City Chiefs.

[-] ArtVandelay@lemmy.world 2 points 10 months ago

Lmao damn, there's some perspective

[-] spider@aussie.zone 2 points 10 months ago* (last edited 5 months ago)

Shouldn't he at least make it believable?

Why bother? He's a serial bullshitter.

[-] Amazed@lemmy.world 1 points 10 months ago
[-] ButtholeSpiders@startrek.website 34 points 10 months ago

So if he claimed it was 2.5 billion, but is inflated by 2.2 billion, his net worth is more like 300 million?

[-] FarceMultiplier@lemmy.ca 35 points 10 months ago* (last edited 10 months ago)

In other words, substantially less than he inherited from his father.

[-] IphtashuFitz@lemmy.world 25 points 10 months ago

How dare you use woke math against him!

[-] ForgetPrimacy@lemmygrad.ml 5 points 10 months ago

Minus the half billion he owes to Russia?

[-] macrocephalic@lemmy.world 2 points 10 months ago

h, saying he falsely boosted it by between $812 million to $2.2 billion (or 17-39%) in each year from 2011 to 2021.

More like he's worth about 2.5B but he was telling banks he was worth 5.

[-] Pringles@lemm.ee 9 points 10 months ago

Forbes counts 550m for truth.social, which is a ridiculously high valuation. The rest is mainly ties up in NY real estate, which is struggling. He's not poor by any means, but 2.5B is still a massive overvaluation most likely. Count his liabilities (1B in debts as of 2020) and I doubt he breaks a billion.

[-] Pretzilla@lemmy.world 6 points 10 months ago

He's so leveraged and indebted to his Russian and Saudi overlords it's quite possible he's underwater

Thusly his motivation to peddle secret docs

[-] CADmonkey@lemmy.world 4 points 10 months ago

I feel like having someone indebted to foreign countries handling top secret documents is a national security issue, but what do I know I just make drawings.

[-] Noughmad@programming.dev 1 points 10 months ago

NY real estate, which is struggling

Sorry, what did I miss? Isn't NY real estate the place where a 200sqft apartment costs millions of dollars?

[-] Pringles@lemm.ee 9 points 10 months ago

Ok, so a couple of things make his portfolio worth less than you would think. To start, he doesn't own all of it outright, most of it is financed with debt and a large part of his portfolio is in commercial real estate, which is struggling to get back to pre-covid occupancy. Last but not least, he slaps his name on everything and many people do not want to be associated with him in any way, shape or form, so his luxury condos are also struggling with occupancy.

[-] Noughmad@programming.dev 1 points 10 months ago

Ok, thanks. I totally get the massive debts and his name being a liability (at least to the people who have enough money to buy what he's selling).

[-] Snapz@lemmy.world 33 points 10 months ago

We need to know trump's actual net worth right before his first campaign launched.

[-] echodot@feddit.uk 17 points 10 months ago

I'm betting it isn't much higher than 50k

Seriously how did anyone think this guy was wealthy? I have a rat who has more business acumen than that idiot. That's been true since the apprentice days.

Wasn't there a guy once who managed to become a multi-millionaire by just claiming to already be a millionaire and getting favourable bank loans?

Why are the banks not checking this shit. What's the point in them.

[-] anonono@lemmy.world 3 points 10 months ago

I'm betting it isn't much higher than 50k

lol if you hate the guy you could just go with negative numbers instead.

it's not uncommon for rich people to go into the negative millions when their investments go belly up.

[-] athos77@kbin.social 14 points 10 months ago

Any chance that some of the lenders might sue him as well, for falsifying his application?

[-] Pratai@lemmy.ca 11 points 10 months ago

Everything trump does is done fraudulently. Because he’s a fraud.

[-] ElBarto@sh.itjust.works 7 points 10 months ago
[-] Blackmist@feddit.uk 7 points 10 months ago

Isn't this what Anna Sorokin went to jail for?

[-] donuts@kbin.social 5 points 10 months ago

More indictments on the way?

[-] _Sc00ter@lemmy.ml 5 points 10 months ago

This is a civil case, so no

[-] donuts@kbin.social 5 points 10 months ago

Sure but is financial fraud not a crime? Why not charge him criminally if he has been demonstrably fraudulent? I'm not a lawyer and I guess I don't really understand.

[-] Backspacecentury@kbin.social 1 points 10 months ago

To the surprise of no one.

this post was submitted on 31 Aug 2023
608 points (98.4% liked)

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