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Transcripts For MSNBC Katy Tur Reports 20240707

street, new york city, that calculated the value of the property at $200 million as of august 2010. and $220 million as of november 2012. yet, in his 2011 statement, mr. trump listed 40 wall street with a value of $524 million. which increased to $530 million over the next two years. more than twice the value calculated by the professionals. so the case is a civil suit, important to note that, and meaning there is no potential for jail time and more for the potential of criminal hot water, and we will talk about that in a moment. but the penalties, they could be amount to a whopping $250 million. trump and his kids, they could be barred from doing business at any new york-based office for five years, and the family and the organization could be barred from borrowing funds from any new york state registered financial institution, and here is where it could get even bigger. for the family and for the former president. james said her office has referred the former president an

Transcripts For MSNBC Deadline White House 20240707

family and the trump business, the trump org of engaging in systemic bank, tax, and insurance fraud for decades. of manipulating the worth of their properties to deceive lenders, insurance companies, and government authorities, though reap billions of dollars of financial gain. here s some what she said. the pattern of fraud and deception that was used for their own financial benefit is astounding. inflating the values of assets by whatever means necessary. to increase mr. trump s purported net worth. and then that net worth was used to further enhance his financial standing, intentionally misstating his financials to obtain incredible economic benefit. it was a scheme that by its very nature became more profitable over time. it is all in stark violation of the law. the lawsuit, which seeks to bar the trumps from doing business in new york, as well as to fine them to the tune of $250 million reads, in part, quote, the number of grossly inflated asset values is staggering.

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