Law & Crime reports:
Long before its namesake became president, the Trump Organization calculated the value of rent-stabilized units at more than $49.5 million—more than 66 times higher than the $750,000 that an outside appraiser believed them to be worth, New York’s top prosecutor alleged.
New York Attorney General Letitia James’s (D) office made that allegation in an eye-popping footnote of an appellate brief seeking to uphold a judge’s order for former President Donald Trump and two of his adult children to sit for deposition in her longstanding tax probe.
The civil investigation, which has been running in tandem with a criminal one, has been looking into whether the Trump Organization fraudulently valued the company’s assets for tax benefits.
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Trump Organization Valued Rent-Stabilized Units More Than 66 Times Higher Than an Outside Appraiser Did: NYAG https://t.co/flxH3CpHwa via @lawcrimenews
— Adam Klasfeld (@KlasfeldReports) March 29, 2022