For those that don't have access to the NYT who posted the original story
Trump Faces Questions About His Net Worth in Interview He Tried to Avoid
Letitia James, the New York attorney general, in New York on Feb. 17, 2022.
For decades, Donald Trump has boasted with impunity about a subject close to his heart and ego: his net worth.
“I look better if I’m worth $10 billion than if I’m worth $4 billion,” he once said when disputing his ranking on the Forbes billionaires list. In a court case, he acknowledged that when it came to describing the value of his brand, “I’m as accurate as I think I can be.” And when he described his self-aggrandizing style in his book, “The Art of the Deal,” he chose a phrase that has followed him ever since: “truthful hyperbole.”’
But now, Trump will face questions under oath about that pattern of embellishment in an investigation that may shape the future of his family real estate business. The former president and his eldest daughter, Ivanka Trump, are expected to be questioned later this month by the New York state attorney general’s office, which has been conducting a civil investigation into whether he and his company fraudulently inflated the value of his assets. His son, Donald Trump Jr., was interviewed last week, according to people with knowledge of the matter.
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The attorney general, Letitia James, has argued in court papers that “fraudulent or misleading” business practices reigned at the Trump Organization for years, and she has said her investigators must question the Trumps to determine who was responsible. Trump fought hard to avoid an interview, but a judge ordered him to face questioning, and investigators will seek to elicit answers that might reveal whether he approved any bogus valuations of his hotels, golf clubs and other assets.
Even a single misstep in the deposition could be costly for Trump, who is also the focus of a separate criminal investigation into the same issues. Although that investigation by the Manhattan district attorney’s office lost momentum early this year, prosecutors are planning to review Trump’s answers and any incriminating statements or clumsy comments could breathe new life into it.
Trump has derided James’ inquiry as a politically-motivated “witch hunt” and denied all wrongdoing.
The former president, who is no stranger to being deposed, will present unusual challenges and opportunities for James’ lawyers, according to accounts from people who have questioned him under oath in the past and a review of nearly a dozen depositions. He is quick to spar with his inquisitors and often struggles to restrain himself, once telling a lawyer that her questions were “very stupid.”
The deposition comes at a precarious moment for Trump, who is facing increasing legal scrutiny for his effort to overturn the 2020 election. Federal prosecutors investigating the Jan. 6 attack on the Capitol are asking witnesses about him, a House committee has uncovered new details about his conduct in the wake of the election and a district attorney in Georgia has convened a grand jury to look into possible election interference by Trump and his allies.
The interviews will mark the final stage of James’ three-year civil inquiry, teeing up one of the most consequential decisions of her tenure: whether to sue Trump and his company. James, facing the likelihood that a lawsuit would bring several more years of legal wrangling without victory assured, could first pursue settlement negotiations with the former president’s lawyers to extract a swifter financial payout.
If James does bring a lawsuit, and Trump loses at trial, a judge could impose steeper financial penalties on the former president and even restrict his business operations in New York, all in the midst of a 2024 presidential campaign that he has long hinted he will join.
James, a Democrat running for reelection, has assumed the role of Trump’s chief antagonist in New York. And in recent months, she has adopted an unusually aggressive legal strategy — including persuading a judge, Arthur F. Engoron, to hold the former president in contempt of court — as she battled to obtain his documents and testimony.
The depositions, while a victory for James, might not deliver a smoking gun. Trump could assert that he delegated the valuation of his assets to employees, and that he was not deeply involved, or he could invoke his constitutional right against self-incrimination, declining to answer at least some questions.
But people familiar with Trump’s approach to legal battles expressed doubt that he would keep quiet. Unlike in criminal cases, a jury in civil cases like the one James might bring can draw a negative inference from a defendant’s refusal to answer questions. And if Trump relies on his Fifth Amendment privilege — as his son Eric Trump did hundreds of times in an interview with James’ office two years ago — that could raise questions about what he might be seeking to hide and provide fresh fodder for his political opponents.
Trump himself has ridiculed witnesses for invoking their Fifth Amendment rights, once remarking that “You see the Mob takes the Fifth,” and that, “If you’re innocent, why are you taking the Fifth Amendment?”
James’ inquiry centers on whether Trump’s annual financial statements were a work of fiction — a vehicle for exaggerating the value of his real estate so that he could secure favorable loans and other financial benefits. James, who has said that Trump “got caught” using “funny numbers in his financial documents,” is examining whether Trump and his company used inflated valuations to mislead banks and the IRS.
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Trump Faces Questions About His Net Worth in Interview He Tried to Avoid (yahoo.com)
Trump Faces Questions About His Net Worth in Interview He Tried to Avoid
Letitia James, the New York attorney general, in New York on Feb. 17, 2022.
For decades, Donald Trump has boasted with impunity about a subject close to his heart and ego: his net worth.
“I look better if I’m worth $10 billion than if I’m worth $4 billion,” he once said when disputing his ranking on the Forbes billionaires list. In a court case, he acknowledged that when it came to describing the value of his brand, “I’m as accurate as I think I can be.” And when he described his self-aggrandizing style in his book, “The Art of the Deal,” he chose a phrase that has followed him ever since: “truthful hyperbole.”’
But now, Trump will face questions under oath about that pattern of embellishment in an investigation that may shape the future of his family real estate business. The former president and his eldest daughter, Ivanka Trump, are expected to be questioned later this month by the New York state attorney general’s office, which has been conducting a civil investigation into whether he and his company fraudulently inflated the value of his assets. His son, Donald Trump Jr., was interviewed last week, according to people with knowledge of the matter.
Sign up for The Morning newsletter from the New York Times
The attorney general, Letitia James, has argued in court papers that “fraudulent or misleading” business practices reigned at the Trump Organization for years, and she has said her investigators must question the Trumps to determine who was responsible. Trump fought hard to avoid an interview, but a judge ordered him to face questioning, and investigators will seek to elicit answers that might reveal whether he approved any bogus valuations of his hotels, golf clubs and other assets.
Even a single misstep in the deposition could be costly for Trump, who is also the focus of a separate criminal investigation into the same issues. Although that investigation by the Manhattan district attorney’s office lost momentum early this year, prosecutors are planning to review Trump’s answers and any incriminating statements or clumsy comments could breathe new life into it.
Trump has derided James’ inquiry as a politically-motivated “witch hunt” and denied all wrongdoing.
The former president, who is no stranger to being deposed, will present unusual challenges and opportunities for James’ lawyers, according to accounts from people who have questioned him under oath in the past and a review of nearly a dozen depositions. He is quick to spar with his inquisitors and often struggles to restrain himself, once telling a lawyer that her questions were “very stupid.”
The deposition comes at a precarious moment for Trump, who is facing increasing legal scrutiny for his effort to overturn the 2020 election. Federal prosecutors investigating the Jan. 6 attack on the Capitol are asking witnesses about him, a House committee has uncovered new details about his conduct in the wake of the election and a district attorney in Georgia has convened a grand jury to look into possible election interference by Trump and his allies.
The interviews will mark the final stage of James’ three-year civil inquiry, teeing up one of the most consequential decisions of her tenure: whether to sue Trump and his company. James, facing the likelihood that a lawsuit would bring several more years of legal wrangling without victory assured, could first pursue settlement negotiations with the former president’s lawyers to extract a swifter financial payout.
If James does bring a lawsuit, and Trump loses at trial, a judge could impose steeper financial penalties on the former president and even restrict his business operations in New York, all in the midst of a 2024 presidential campaign that he has long hinted he will join.
James, a Democrat running for reelection, has assumed the role of Trump’s chief antagonist in New York. And in recent months, she has adopted an unusually aggressive legal strategy — including persuading a judge, Arthur F. Engoron, to hold the former president in contempt of court — as she battled to obtain his documents and testimony.
The depositions, while a victory for James, might not deliver a smoking gun. Trump could assert that he delegated the valuation of his assets to employees, and that he was not deeply involved, or he could invoke his constitutional right against self-incrimination, declining to answer at least some questions.
But people familiar with Trump’s approach to legal battles expressed doubt that he would keep quiet. Unlike in criminal cases, a jury in civil cases like the one James might bring can draw a negative inference from a defendant’s refusal to answer questions. And if Trump relies on his Fifth Amendment privilege — as his son Eric Trump did hundreds of times in an interview with James’ office two years ago — that could raise questions about what he might be seeking to hide and provide fresh fodder for his political opponents.
Trump himself has ridiculed witnesses for invoking their Fifth Amendment rights, once remarking that “You see the Mob takes the Fifth,” and that, “If you’re innocent, why are you taking the Fifth Amendment?”
James’ inquiry centers on whether Trump’s annual financial statements were a work of fiction — a vehicle for exaggerating the value of his real estate so that he could secure favorable loans and other financial benefits. James, who has said that Trump “got caught” using “funny numbers in his financial documents,” is examining whether Trump and his company used inflated valuations to mislead banks and the IRS.
CONTINUED:
Trump Faces Questions About His Net Worth in Interview He Tried to Avoid (yahoo.com)
