Real Estate

NY AG probe suggests Trump business misstated asset values for years

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Former U.S. President Donald Trump speaks during a rally at the Iowa States Fairgrounds in Des Moines, Iowa, October 9, 2021.

Rachel Mummey | Reuters

The New York Attorney General’s Office has “uncovered significant evidence” suggesting that the Trump Organization’s financial statements for more than a decade relied on misleading valuations of its real estate assets, the office said in a court filing Tuesday.

Those potentially misleading valuations “and other misrepresentations” were used by the company owned by ex-President Donald Trump “to secure economic benefits — including loans, insurance coverage, and tax deductions — on terms more favorable than the true facts warranted,” the…



Source cnbc.com

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