Former President Donald Trump shredded New York Attorney General Letitia James in a verbal broadside on Friday over her allegations that he substantially overvalued his assets in order to get more favorable insurance and loan deals.
James has filed a civil fraud lawsuit against Trump, sons Donald Jr. and Eric, and the Trump Organization. According to CNN, James said the figures her office utilized cut Trump’s net worth from between 17 and 39 percent each year, with the largest gap allegedly coming in 2014, when she said Trump’s assets were around $2.2 billion less than he claimed.
Trump railed at James, who campaigned on a platform of investigating and charging the former president and his company, on his Truth Social platform, as noted in a damning video posted by Eric Trump earlier this year.
“IN THE NYS A.G. LETITIA JAMES CASE, I WAS TARGETED, GIVEN NO JURY, NO EXTENSIONS, NO COMMERCIAL DIVISION, NO CONSTITUTIONAL RIGHTS, NO ANYTHING!” Trump posted in all caps.
“THE DEMOCRAT JUDGE HATES TRUMP WITH A PASSION. THE THING I HAVE IS A GREAT CASE BASED ON PHENOMENAL NUMBERS THAT SHOW A NET WORTH BILLIONS OF DOLLARS MORE THAN SHE VICIOUSLY & FALSELY CLAIMED, VERY LITTLE DEBT, BIG CASH, A POWERFUL DISCLAIMER CLAUSE, PAID OFF LOANS, NO DEFAULTS, ‘HAPPY’ BANKS, GREAT ASSETS,” he continued. “I WAS DEFAMED BY NYS – ELECTION INTERFERENCE!”
Currently, both sides in the suit are at a phase where they each want summary judgment by a court — that is, they each want a judge to side with them without having a trial. Trump’s team, meanwhile, has filed a request with the court to have the case tossed out, arguing the allegations happened too long ago for him to be sued.
James’ office, however, claims it can prove its case, according to CNN.
“Based on the undisputed evidence, no trial is required for the court to determine that defendants presented grossly and materially inflated asset values in the (statements of financial condition) and then used those SFCs repeatedly in business transactions to defraud banks and insurers,” the attorney general’s office noted in a filing.
“Notwithstanding defendants’ horde of 13 experts, at the end of the day, this is a documents case, and the documents leave no shred of doubt that Mr. Trump’s SFCs do not even remotely reflect the ‘estimated current value’ of his assets as they would trade between well-informed market participants,” the AG’s office added.
Trump’s lawyers argued: “The [statements of financial condition] at issue were simply not misleading. Therefore, the Defendants are entitled to summary judgment as a matter of law.
“The undisputed record further establishes his companies timely paid hundreds of millions of dollars in interest to their lenders and never defaulted on a loan or even been late on a loan payment during the entire 15+ year time period the NYAG has sought to scrutinize in this action,” the argued further.
Earlier this year, a video montage was released that could do serious damage to James’ case. It shows James vowing to bring down Trump when she was campaigning for the job.
She bragged that she would take on the sitting president of the United States if New Yorkers voted for her and she won.
Eric Trump shared the video of James promising to take down Trump on his Instagram page in January.
“This is not the United States Legal System – this is third-world prosecutorial misconduct. Promising to target a political opponent and their family before even entering office – it’s hard to believe this is America. Letitia James may go down as the most politically corrupt Attorney General in New York history,” he said in the caption of the video.
“Stay Tuned… we have sued her for her unethical behavior, and a judge will see every one of these videos, her viciousness and the pure malice of her actions and statements,” he added.