Latest News

‘Significant’ evidence suggests Trump Org misstated asset values for more than a decade, AG says

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

Those potentially misleading valuations “and other misrepresentations” were used “to secure economic benefits — including loans, insurance coverage, and tax deductions — on terms more favorable than the true facts warranted,” the office said in the filing.

AG Letitia James’ office said that of the more than 40 witnesses interviewed in the civil probe, Trump Organization Chief Financial Officer Allen Weisselberg and Controller Jeffrey McConney “played a role in crafting the financial statements at the crux of this investigation.”

This is breaking news. Please check back for updates.

Here are Tuesday’s biggest analyst calls of the day: Tesla, McDonald’s, Walmart, Petco & more

Previous article

Fortinet shares could gain 17% from here as cyber threats mount, Barclays says

Next article

You may also like


Leave a reply

Your email address will not be published.

More in Latest News