Former President Donald Trump is touting his wealth ahead of New York Attorney General Letitia James’ $250 million lawsuit accusing him of inflating his net worth.
Last year, James filed a civil suit against The Trump Organization, the ex-president and three of his adult children, accusing them of misrepresenting business assets to obtain favorable loans and tax benefits. His daughter Ivanka Trump was removed from the list of defendants following an appeals court ruling in June.
The trial, scheduled to begin October 2, was temporarily paused last week after Trump sued New York State Supreme Court Justice Arthur Engoron, who is presiding over the case. Regardless, a hearing on motions for summary judgment from James and Trump is expected to proceed on Friday.
Trump wrote in a Truth Social post on Monday that James is “Trump-hating” and has “no case,” insisting that his “worth” is much more impressive than the attorney general says, and that he has “very little” debt.
Alex Wong
“It turns out that my Financial Statements show a WORTH which is substantially more than I showed the very well represented (by top flight law firms!) & highly sophisticated Financial Institutions and Banks,” Trump wrote. “Also shows that each statement has a Disclaimer Clause strongly telling these institutions to do their own analysis & to not rely on the Financial Statements presented.”
“Additionally, great liquidity – Very little Debt relative to Assets!” he added. “In other words, Trump Hating Letitia James has no case!”
Newsweek reached out for comment to the office of James via email on Monday.
Trump has repeatedly lashed out at James, a Democrat, for allegedly “hating” him and engaging in supposed “election interference” while he campaigns as the leading Republican candidate in the 2024 presidential election.
The former president has also hit out at suggestions that his net worth could be lower than he has claimed in the past, insisting in a fiery Truth Social post earlier this month that he has “BILLIONS OF DOLLARS MORE” than James “VICIOUSLY & FALSELY CLAIMED.”
James says that there is “undisputed evidence” showing Trump “presented grossly and materially inflated asset values” to banks and insurers each year from 2011 to 2021. The yearly discrepancies were from $812 million to $2.2 billion, according to the lawsuit.
Trump’s motion for summary judgment argues that “all this debate surrounding President Trump’s net worth is unnecessary” because the alleged inflation of assets may not have impacted the loans in question and “it is simply undisputed he was and is an extraordinarily successful multi-billionaire.”
In addition to the lawsuit from James and other civil court matters, the ex-president faces 91 felony criminal charges across four separate indictments, including a case in New York that also focuses on his alleged misrepresentation of assets.
Trump has pleaded not guilty to all charges, while claiming that all of his legal woes are part of an orchestrated “witch hunt” by his political enemies.