Former President Donald Trump is currently facing a $250 million civil lawsuit in New York, which has the potential to impact his personal wealth and real estate empire-factors that significantly contributed to his rise to the White House.
The lawsuit, spearheaded by New York Attorney General Letitia James, alleges that Trump, along with his sons Eric Trump and Donald Trump Jr., and other key Trump Organization executives, engaged in a decade-long scheme. The accusation asserts that they utilized “numerous acts of fraud and misrepresentation” to artificially inflate Trump’s net worth, aiming to secure more favorable loan terms. A recent development in the case involved the judge issuing a partial summary judgment, stating that Trump had submitted “fraudulent valuations” for his assets. The ongoing trial will now determine additional actions and potential penalties for the defendants.
Despite the serious allegations, the former president maintains his innocence. His legal team argues that the inflated valuations were a result of Trump’s business acumen.