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Donald Trump rails against New York AG Letitia James for $250M ‘vicious marketing campaign’ lawsuit

Former President Donald Trump revealed on Wednesday he had thought New York Attorney General Letitia James would settle her case against him, which he mentioned he had issues with as a result of he’s not responsible.

The remarks got here because the ex-president railed against James’ $250 million lawsuit, claiming Trump lied about his property values when making use of for loans to increase his actual property empire.

Speaking with Sean Hannity from his house in Mar-a-Lago on Wednesday, Trump doubled down on his assertion that his property values are excessive, pointing to the decadence of Mar-a-Lago.

That is when he revealed: ‘I truly by no means thought that she would carry a case, and he or she introduced it. And the rationale I believed was as a result of she did not have a case. 

‘I used to be of the impression that she needed to settle,’ he claimed. ‘But I had a drawback as a result of how do you pay one thing even when it is a small quantity of money when you’re not responsible.’

The former president additionally famous that in his mortgage functions, he places in a disclaimer telling collectors to appraise the values themselves — an obvious protection against the swimsuit. 

He then went on to seek advice from the lawsuit as ‘only a continuation of a witch hunt that started once I got here down the escalator of Trump Tower,’ and instructed that James had been after him since she first ran for office.

Former President Donald Trump revealed on Wednesday he had thought New York Attorney General Letitia James would settle her case against him

His remarks came in an interview with Sean Hannity from his Mar-a-Lago home

His remarks got here in an interview with Sean Hannity from his Mar-a-Lago house

‘She campaigned on it 4 years in the past, it was a vicious marketing campaign,’ Trump mentioned. ‘And she simply talked about Trump and “We’re going to get him, we’re going to indict him, we’re going to get him.”

‘She knew nothing about me,’ he claimed. ‘I by no means heard of her, however I noticed this lady, I noticed this assertion she was placing out with out realizing something.’

‘She mentioned, “We’re gonna get him,” her complete marketing campaign was primarily based on that,’ Trump continued. ‘Then she got here after us, we now have been going over this for years.’ 

‘We got here down the escalator and it began,’ Trump claimed.

The FOX News host then requested the previous president whether or not he ever stuffed out a mortgage application when he was operating the Trump Organization, to which Trump replied: ‘Well, you realize, we make loans, however I’ve little or no debt.’

He added: ‘They have demeaned me for years with these things, and now they discover out that I’ve little or no debt, very, little or no, a variety of money — we now have an amazing company and we now have among the many greatest belongings wherever on the planet. 

‘I went by way of, they had been demeaning me consistently these folks. There is one thing incorrect with them,’ he mentioned, apparently referencing Letitia James.

‘I actually consider that they hate our nation.’

Hannity seemed to offer the former president a defense at one point, noting that loaners have 'a fiduciary responsibility to determine what the value' of each property is

Hannity appeared to supply the previous president a protection at one level, noting that loaners have ‘a fiduciary accountability to find out what the worth’ of every property is

The former president then noted that he has a disclaimer on each of his loan applications saying the estimates were done by Trump Organization management, and creditors should get their own appraisals

The former president then famous that he has a disclaimer on every of his mortgage functions saying the estimates had been performed by Trump Organization administration, and collectors ought to get their very own value determinations

 At that time, Hannity appeared to supply Trump a protection — saying loaners have ‘a fiduciary accountability to find out what the worth’ of every property is.

In response, the previous president claimed that he has a disclaimer on every of his mortgage functions.

‘It principally says, “Get your own people, you’re at your own risk. This was done by management. So don’t rely on the statement that you’re getting.”

‘It principally says to an establishment: “You’re going to loan money, you’re going to have to go out and get your own appraisers, your own lawyers, everything.’

Trump added that he does not have a mortgage on most of his properties, but if he did, appraisers would come in and compare it with nearby homes. 

New York AG Letitia James announced Wednesday that her office is suing former President Donald Trump and his adult children

Trump quickly hit back against the Attorney General, accusing her of being 'racist'

Trump quickly hit back against the Attorney General, accusing her of being ‘racist’

Trump’s remarks on Hannity come just hours after he called James, who is black, ‘racist’ and accused her of bringing forward the lawsuit to help her ‘really bad poll numbers.’  

‘Another Witch Hunt by a racist Attorney General, Letitia James, who failed in her run for Governor, getting almost zero support from the public, and now is doing poorly against Law & Order A.G. candidate, highly respected Michael Henry,’ Trump wrote in a post on Truth Social. 

‘I never thought this case would be brought – until I saw her really bad poll numbers. She is a fraud who campaigned on a “get Trump” platform, despite the fact that the city is one of the crime and murder disasters of the world under her watch!’ 

In a follow-up post minutes later, Trump added: ‘Attorney General Letitia “Peekaboo” James, a total crime fighting disaster in New York, is spending all of her time fighting for very powerful and well represented banks and insurance companies, who were fully paid, made a lot of money, and never had a complaint about me, instead of fighting murder and violent crime, which is killing New York State.

‘She is a failed A.G. whose lack of talent in the fight against crime is causing record numbers of people and companies to flee New York. Bye, bye!’

At a news conference on Wednesday, James said her suit comes after she reviewed 'millions of documents' with a team of investigators

At a news conference on Wednesday, James said her suit comes after she reviewed ‘millions of documents’ with a team of investigators

She claimed that the president and his three adult children, Eric, Ivanka and Don Jr 'persistently' inflated the value of assets

She claimed that the president and his three adult children, Eric, Ivanka and Don Jr ‘persistently’ inflated the value of assets

James had said earlier in the day Wednesday that Trump and his children engaged in ‘numerous acts of fraud’ in a dramatic press conference as she announced the suit against the former president.

She cited documents that accuse Trump and his three adult children of pumping up property values when seeking lending to expand his real estate empire. 

‘Claiming you have money that you do not have does not amount to the “Art of the Deal. It’s the artwork of the steal,’ James mentioned, referencing Trump’s well-known e book. 

The New York Attorney General particularly named Trump and his three grownup youngsters, Don Jr., Eric, and Ivanka Trump, and mentioned they ‘persistently’ inflated the worth of belongings. 

She mentioned she reviewed ‘hundreds of thousands of paperwork’ with a crew of investigators, and informed reporters she was suing Trump for ‘violating the regulation as a part of his efforts to generate earnings for himself, his household and his company.’

James mentioned he did so ‘to cheat the system and to cheat all of us,’ and is searching for $250 million – whereas asking a choose to bar Trump and his grownup youngsters from serving on boards, acquiring lending within the state, or partaking in actual property purchases for a interval of 5 years. 

Trump would keep his monetary curiosity within the property even when a choose guidelines against him within the swimsuit.

And though her swimsuit is simply a civil matter, James mentioned she would refer proof she uncovered to different authorities. 

She said Trump inflated his net worth to 'deceive banks' when seeking lending to expand his real estate empire

She mentioned Trump inflated his internet price to ‘deceive banks’ when searching for lending to increase his actual property empire

James mentioned Trump’s monetary statements had been ‘significantly inflated, grossly exaggerated, and objectively false,’ and went on to element lots of these valuations that he claimed.

She accused them of making ‘greater than 200’ false and deceptive asset valuations.

Among his alleged misdeeds, she accused Trump of ‘intentional and deliberate fraud’ by tripling the dimensions of his Trump Tower penthouse condominium, thereby goosing its worth.

She Trump claimed the condominium was 30,000 sq. ft. ‘In actuality, the condominium had an space of lower than 11,000 sq. ft.’ Based on the inflated sq. footage, the condominium was valued at $327 million.

‘To this date, no different condominium in New York City has ever bought for that a lot,’ she mentioned.

Mar-a-Lago at $730M when it needs to be $75M, residences inflated by 65 instances and $127 M for a golf course dropping money: The breakdown of properties New York AG claims Trump inflated and the way he did it – as he claims SHE is the fraud

By Morgan Phillips, Politics Reporter For Dailymail.com

After a three-year probe into the previous president’s funds New York legal professional common Letitia James filed a civil lawsuit against Donald Trump on Wednesday for alleged ‘quite a few acts of fraud.’ 

Following a evaluate of ‘hundreds of thousands of paperwork’ with a crew of investigators, she informed reporters she was suing Trump for ‘violating the regulation as a part of his efforts to generate earnings for himself, his household and his company.’  James particularly named Trump and his three grownup youngsters, Don Jr., Eric, and Ivanka Trump, and mentioned they ‘persistently’ inflated the worth of belongings. 

The legal professional common, who’s operating for reelection in November, claimed the monetary profit from the scheme in whole was $250 million, together with curiosity financial savings and transaction earnings, and got here in monetary statements from 2001 to 2021. The former president, in flip, claimed James, who’s black, is ‘racist’ and he or she herself is the ‘fraud.’

Here’s a breakdown of the lawsuit’s greatest accusations: 

Trump claimed his Trump Tower penthouse condominium was thrice its precise dimension – and price a whopping $327 million

According to James, Trump claimed his penthouse in Trump Tower in Manhattan was 30,000 sq. ft when in actuality the place was solely a 3rd of that dimension – 11,000 sq. ft. Based on the inflated sq. footage, Trump valued the condominium at $327 million, a worth which James referred to as ‘absurd.’ 

‘To this date, no different condominium in New York City has ever bought for that a lot,’ she mentioned.

Trump valued Mar-a-Lago at practically 10 instances what it was price at $739 million

Trump’s Florida golf resort was valued at $739 million ‘primarily based on the false premise that it was unrestricted property and could possibly be developed for residential use,’ based on James. Her office identified that Trump donated the residential growth rights of the property and sharply restricted making any adjustments. She claims that the property ought to have been valued at $75 million and brings in about $25 million in income per year. 

Trump valued his Park Avenue primarily based on the models’ market worth, although they had been lease stabilized and price far much less at a complete of $84.5 million

The Trump Organization acquired a valuation for Trump Park Avenue, a 32-story rental constructing with 120 residences and eight penthouses, in 2020 at $84.5 million. 

On a 2020 assertion of Trump’s monetary situation he listed the property being price $135.8 million. 

James’ crew discovered that in 2011 and 2012, Trump ‘ignored authorized restrictions’ listed 12 rent-stabilized models within the constructing by what they might be price in the event that they could possibly be rented out at market worth. Trump claimed the models had been price $50 million, over 65 instances the $750,000 these models had been appraised at in 2010. 

Trump valued his Seven Springs property practically ten instances what it was appraised for only some years prior at as much as $291 million

In 1995 Trump bought his 213-acre property in Westchester County, New York  for $7.5 million. Two a long time later in 2006 it was discovered to be price $30 million, however Trump’s statements of monetary situation from 2011 to 2021 discovered the property to be price $261 million and $291 million.  

In 1995 Trump purchased his 213-acre estate in Westchester County, New York for $7.5 million

In 1995 Trump bought his 213-acre property in Westchester County, New York for $7.5 million

Trump tears into ‘racist’ New York Attorney General Letitia ‘Peekaboo’ James after she recordsdata swimsuit against him 

‘Another Witch Hunt by a racist Attorney General, Letitia James, who failed in her run for Governor, getting almost zero support from the public, and now is doing poorly against Law & Order A.G. candidate, highly respected Michael Henry,’ Trump wrote in a post on Truth Social. 

‘I by no means thought this case can be introduced – till I noticed her actually dangerous ballot numbers. She is a fraud who campaigned on a “get Trump” platform, even supposing town is among the crime and homicide disasters of the world below her watch!’ 

Trump added in a followup publish: ‘Attorney General Letitia “Peekaboo” James, a complete crime preventing catastrophe in New York, is spending all of her time preventing for very highly effective and effectively represented banks and insurance coverage corporations, who had been totally paid, made a variety of money, and by no means had a criticism about me, as a substitute of preventing homicide and violent crime, which is killing New York State. She is a failed A.G. whose lack of expertise within the battle against crime is inflicting report numbers of individuals and firms to flee New York. Bye, bye!’ 

Trump listed the worth of 40 Wall Street at over $300 million what it was discovered to be price at $530 million

The Trump constructing at 40 Wall Street, the place Trump owns the bottom lease was valued at $220 million in 2012. The Trump Organization listed the property’s worth at $530 million in 2013. 

Trump informed Nevada tax authorities Trump International Hotel and Tower in Las Vegas was price far lower than what his monetary assertion confirmed at $108 million

 Trump owns a 50 p.c stake in a lodge condominium tower along with businessman Phillip Ruffin. In 2015 the Trump Organization submitted a $24,950,000 valuation to contest taxes they owed to Nevada, however the identical year his assertion confirmed the property to be price $108 million. 

Trump didn’t consider escalating lease bills for his Niketown valuation within the mid-$400 million vary

Trump owns two floor leases for a space that adjoins Trump Tower that for a few years he rented to Nike. In 2020 and 2021 Trump reported the worth of the property was within the mid-$400 million vary, whereas James’ office discovered the property to be price $225-$250 million vary, arguing that Trump had not factored in ‘escalating scheduled lease bills.’ 

Trump used ‘misleading methods’ to listing the worth of his golf and social golf equipment 

James’ office discovered that Trump used a variety of ‘misleading methods’ to estimate the worth of his 12 golf equipment. The first is a ‘fastened asset scheme,’ the place she says Trump valued the golf equipment primarily based on fastened belongings with out factoring in any depreciation. Others schemes listed concerned factoring the worth of memberships into the valuation whereas itemizing Trump’s legal responsibility for these memberships as zero. A ‘model premium scheme’ entailed the Trump Organization including a premium to inflate the worth of golf programs and golf equipment, typically as much as 30% for the ‘Trump Brand,’ whereas claiming that model premiums weren’t included. 

Trump valued his Turnberry golf course on a hard and fast asset scheme at $127 million though it has been working at a loss 

In 2017, Trump’s golf course in Turnberry, Scotland, was valued at practically $127million. But James insists it has operated as a loss since then, and says it was ‘false and deceptive’ of Trump to make use of a valuation of the course primarily based on a hard and fast asset scheme. 

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