Among the allegations New York Attorney General Letitia James made against former President Donald Trump Wednesday is that It’s not nearly as rich as he claims. It’s an accusation that could threaten Trump’s brand and political future more than any criminal indictment.
This is not just academic. Trump’s whole show to us is that he can – well – sell. He has told us for years that he deserves our respect and admiration, and indeed our votes, because Financially very successful.
Trump’s whole show to us is that he can – well – sell.
But according to the lawsuit, Trump’s representations about his wealth, such as Many of his claimsIt may be nothing more than outright lies. James office Trump sued, three of his adult children and others on charges of fraud and misrepresentation based on years of alleged financial wrongdoing, in a case that could prove fatal to the Trump empire. (In response to James’ allegations, Trump’s lawyer said on Wednesday He “did nothing wrong.”)
Maybe we should put the word empire in quotation marks. Trump Organization Alleged exaggeration Eye popping. To name a few, here are a few examples of the lawsuit: it claimed that Trump’s Manhattan penthouse was overstated by 400%, that the Trump Organization valued rental apartments at $50 million when the true value was closer to $750,000, and that Mar-a- Lago was valued by the Trump Organization at $739 million, while the real value is close to $75 million.
If the allegations in James’ lawsuit are proven, Trump did not mistakenly miscalculate the value of some of his property; He grossly overestimated his property. He did so, allegedly, to obtain favorable loans, insurance, and tax treatment. He failed over and over again, eventually reaching the most powerful position in the world.
But there is more to Trump’s alleged financial fraud than just taking out more loans or paying lower taxes. Trump, like the average person, is allegedly inflating the value of his wealth to concoct a fictional story about himself and his financial prowess.
His story reflects, in many ways, the common American narrative of the tireless pursuit of wealth and luxury. We all know the story Anna Sorokin, a notorious swindler and con artist who claimed to be a wealthy German heiress to infiltrate elite circles in New York society, tricking banks and lenders into financing her fabricated lifestyle. She ended up getting some time in prison, was the inspiration for the Netflix series and is said to be on the decline Her reality TV show.
Trump, like the average person, is allegedly inflating the value of his wealth to concoct a fictional story about himself and his financial prowess.
Trump has of course not been convicted of any crime, and it can be said that he is an elite circle rather than an outsider; But James’ allegations indicate that he got to where he is today through fraudulent acts. Just in his case, he won the presidency and heralded the start of an unstable era of instability in our country.
Trump is no stranger to being a party to legal proceedings, and it’s not hard to guess how he will respond to the latest allegations. We know that his out-of-court tactic would be to invoke the lawsuit against him as a political stalker. We know that his strategy in court will be Delay, delay, delay.
Trump’s alleged fortune And his status as a billionaire is an essential part of his campaign narrative. We can trust him to run the country, because if we look at how well he has run his business, he begged us.
If the allegations are proven, Trump is a common person with an uncommonly large platform. But he, like scammers and scammers, depends on our interest and belief in prosperity. James’ suit could doom Trump’s business. But only our decision to walk away from him can bring down Trump.