this post was submitted on 31 Aug 2023
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politics

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founded 1 year ago
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Donald Trump fraudulently inflated his net worth by as much as $2.2 billion per year, New York officials said in court filings unsealed Wednesday ahead of his upcoming civil fraud trial.

The new estimates came in filings from the New York state attorney general’s office, which is suing Trump, some of his adult children and his business empire for falsifying his net worth in an effort to obtain favorable terms from banks and insurance companies. The trial is set to begin Oct. 2.

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[–] [email protected] 140 points 1 year ago (2 children)

This certainly explains why he needs broke ass dumbasses to pay his legal fees for him.

So much winning!

[–] [email protected] 57 points 1 year ago (1 children)

I love the poorly educated!

-Trump in 2016

There is a reason the GQP it trying to dismantle the education system in the US...

[–] [email protected] 21 points 1 year ago (1 children)

oh absolutely. ironically, he's just as dumb as his constituents.

[–] [email protected] 14 points 1 year ago

Professor Kelley told me 100 times over three decades that “Donald Trump was the dumbest goddam student I ever had.” I remember his emphasis and inflection — it went like this — “Donald Trump was the dumbest goddam student I ever had.” Dr. Kelley told me this after Trump had become a celebrity but long before he was considered a political figure. Dr. Kelley often referred to Trump’s arrogance when he told of this — that Trump came to Wharton thinking he already knew everything.

https://www.dailykos.com/stories/2017/10/12/1705902/-Former-Wharton-Professor-Donald-Trump-Is-the-Dumbest-Goddam-Student-I-Ever-Had

[–] [email protected] 17 points 1 year ago

Explains his having to get a bail bond, L, O, Fucking L.

[–] [email protected] 53 points 1 year ago (3 children)

Is there anything that Trump doesn’t fraudulently inflate about himself?

[–] [email protected] 57 points 1 year ago
[–] [email protected] 26 points 1 year ago* (last edited 10 months ago) (1 children)
[–] [email protected] 19 points 1 year ago (3 children)

Id heard he lied or whatever but 215? Shouldn't he at least make it believable? Like pretend there's muscle under there or something.

[–] [email protected] 16 points 1 year ago (1 children)

Apparently we're suppose to believe he's an inch taller but 10lbs lighter than Patrick Mahomes of the Kansas City Chiefs.

[–] [email protected] 2 points 1 year ago

Lmao damn, there's some perspective

[–] [email protected] 2 points 1 year ago* (last edited 10 months ago)

Shouldn't he at least make it believable?

Why bother? He's a serial bullshitter.

[–] [email protected] 1 points 1 year ago
[–] [email protected] 34 points 1 year ago (3 children)

So if he claimed it was 2.5 billion, but is inflated by 2.2 billion, his net worth is more like 300 million?

[–] [email protected] 35 points 1 year ago* (last edited 1 year ago)

In other words, substantially less than he inherited from his father.

[–] [email protected] 25 points 1 year ago

How dare you use woke math against him!

[–] [email protected] 2 points 1 year ago (1 children)

h, saying he falsely boosted it by between $812 million to $2.2 billion (or 17-39%) in each year from 2011 to 2021.

More like he's worth about 2.5B but he was telling banks he was worth 5.

[–] [email protected] 9 points 1 year ago (2 children)

Forbes counts 550m for truth.social, which is a ridiculously high valuation. The rest is mainly ties up in NY real estate, which is struggling. He's not poor by any means, but 2.5B is still a massive overvaluation most likely. Count his liabilities (1B in debts as of 2020) and I doubt he breaks a billion.

[–] [email protected] 6 points 1 year ago (1 children)

He's so leveraged and indebted to his Russian and Saudi overlords it's quite possible he's underwater

Thusly his motivation to peddle secret docs

[–] [email protected] 4 points 1 year ago

I feel like having someone indebted to foreign countries handling top secret documents is a national security issue, but what do I know I just make drawings.

[–] [email protected] 1 points 1 year ago (1 children)

NY real estate, which is struggling

Sorry, what did I miss? Isn't NY real estate the place where a 200sqft apartment costs millions of dollars?

[–] [email protected] 9 points 1 year ago (1 children)

Ok, so a couple of things make his portfolio worth less than you would think. To start, he doesn't own all of it outright, most of it is financed with debt and a large part of his portfolio is in commercial real estate, which is struggling to get back to pre-covid occupancy. Last but not least, he slaps his name on everything and many people do not want to be associated with him in any way, shape or form, so his luxury condos are also struggling with occupancy.

[–] [email protected] 1 points 1 year ago

Ok, thanks. I totally get the massive debts and his name being a liability (at least to the people who have enough money to buy what he's selling).

[–] [email protected] 33 points 1 year ago (1 children)

We need to know trump's actual net worth right before his first campaign launched.

[–] [email protected] 17 points 1 year ago (1 children)

I'm betting it isn't much higher than 50k

Seriously how did anyone think this guy was wealthy? I have a rat who has more business acumen than that idiot. That's been true since the apprentice days.

Wasn't there a guy once who managed to become a multi-millionaire by just claiming to already be a millionaire and getting favourable bank loans?

Why are the banks not checking this shit. What's the point in them.

[–] [email protected] 3 points 1 year ago

I'm betting it isn't much higher than 50k

lol if you hate the guy you could just go with negative numbers instead.

it's not uncommon for rich people to go into the negative millions when their investments go belly up.

[–] [email protected] 14 points 1 year ago

Any chance that some of the lenders might sue him as well, for falsifying his application?

[–] [email protected] 11 points 1 year ago

Everything trump does is done fraudulently. Because he’s a fraud.

[–] [email protected] 7 points 1 year ago
[–] [email protected] 7 points 1 year ago

Isn't this what Anna Sorokin went to jail for?

[–] [email protected] 5 points 1 year ago (1 children)

More indictments on the way?

[–] [email protected] 5 points 1 year ago (1 children)

This is a civil case, so no

[–] [email protected] 5 points 1 year ago

Sure but is financial fraud not a crime? Why not charge him criminally if he has been demonstrably fraudulent? I'm not a lawyer and I guess I don't really understand.

[–] [email protected] 1 points 1 year ago

To the surprise of no one.