‘I AM WORTH MUCH MORE THAN THE FIGURES SHOWN’

Global Courant

Shortly after New York Judge Arthur Engoron found Donald Trump and his adult sons liable for fraud and revoked the Trump Organization’s corporate certification on Tuesday, the disgraced former president panicked about it in a long, all-caps rant about Truth Social that he seemed to have originally written yesterday.

Trump appears to be most offended because the ruling calls his alleged net worth into question. Part of the fraud committed by the Trump Organization is that it vastly overestimated the value of various properties in order to receive favorable contracts and bank loans. But, Trump emphasized, the ruling did not put a price on his “most valuable asset, my brand.”

Of course in capital letters.

Trump said in part: “1) I AM WORTH MUCH MORE THAN THE FIGURES SHOWN IN MY FINANCIAL STATEMENTS. 2) I DID NOT EVEN INCLUDE MY MOST VALUABLE ASSETS, MY BRAND.”

He continued: “3) THE BANKS WERE REPAYED IN FULL, SOMETIMES EARLY, THERE WERE NO DEFAULTS, THE BANKS HAD MONEY, WERE REPRESENTED BY THE BEST LAWYERS, AND WERE VERY “HAPPY.” THERE WERE NO VICTIMS!”

Trump concluded by doubling down on his claim that he is worth much more than the financial statements suggest, adding: “4) ON THE FRONT PAGE OF THE FINANCIAL STATEMENTS THERE IS A STRONG ‘DISCLAIMER CLAUSE’ THAT TELLS EVERYONE NOT TO APPEAR ON THESE FINANCIAL STATEMENTS TO BE TRUSTED. . THE DISCLAIMER CLAUSE TELLS ANYONE VIEWING THE DATA, INCLUDING FINANCIAL INSTITUTIONS, TO DO THEIR OWN RESEARCH AND ANALYSIS – IT IS A NON-CONFIDENCE CLAUSE, AND COULD NOT BE CLEAR.”

“CONSEQUENTLY I ARE WORTH MUCH MORE THAN SHOWN IN THE ‘FULLY DISCLAIMED’ FINANCIAL STATEMENTS, AGAIN ADDED NO VALUE TO MY BIGGEST ASSETS, BRAND, THE COMPANY HAS HUNDREDS OF MILLIONS OF DOLLARS IN CASH AND VERY LITTLE DEBT,” he insisted.

Trump on Truth Social

Trump on Truth Social

The ruling against Trump comes days before the former president’s civil case, filed by the New York District Attorney’s Office, is set to go to trial on October 2. Engoron found Trump and his sons “knowingly liable for continuing violations” and found that decades of financial statements filed by the Trump family were false.

Trump has repeatedly asserted that he has never inflated the true value of his homes, hotels and golf courses, and has denied claims that he has exaggerated his success and wealth. Engoran directly contradicted these claims, accusing Trump of overvaluing his Trump Tower apartment by as much as $207 million.

Attorney General Letitia James is searching $250 million in damages, to ban the Trump family from working as officers for a New York company, and to prevent the Trump Organization from doing business for five years.

The judge wrote: “A discrepancy of this magnitude, because a real estate developer has estimated his own living space for decades, can only be considered fraud.”

The Trump Organization’s corporate certificates, a commercial tower at 40 Wall Street and the family’s Seven Springs have all been canceled, and Engoron noted that a third party will “manage the dissolution” of the properties. It is unclear whether any of the rulings will apply to Mar-A-Lago and whether Trump will have the ability to transfer New York-based assets out of state.

The mail Trump panics after judge finds him liable for fraud: ‘I AM WORTH MUCH MORE THAN THE FIGURES SHOWN’ appeared first on DeWrap.

‘I AM WORTH MUCH MORE THAN THE FIGURES SHOWN’

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