New York AG says Trump’s company misled banks, tax officials

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The New York attorney general’s office late Tuesday told a court that its investigators had uncovered evidence that President Donald Trump’s company used “fraudulent or misleading” asset valuations to get loans and tax benefits.

of its investigation of allegations that Trump’s company repeatedly exaggerated the value of assets to get favorable loan terms, or misstated what land was worth to slash its tax burden.

James’ office detailed its findings in a court motion seeking to force Trump, his daughter Ivanka Trump and his son Donald Trump Jr. to comply with subpoenas seeking their testimony. In the past, the Republican ex-president has decried James’ investigation and Bragg’s probe as part of a “witch hunt.” Although James’ civil investigation is separate from the criminal investigation, her office has been involved in both, dispatching several lawyers to work side-by-side with prosecutors from the Manhattan D.A.’s office.-- Listed his Seven Springs estate north of New York City as being worth $291 million, based on the dubious assumption that it could reap $161 million from building nine luxury homes.

-- Valued a Park Avenue condominium tower at $350 million, based on proceeds it could reap from unsold units, even though many of those apartments were likely to sell for less because they were covered by rent stabilization laws. One judge has previously sided with James on an earlier request to question another Trump son, Trump Organization executive Eric Trump, who ultimately sat for a deposition but declined to answer some questions.

 

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