Africa Business News

New York’s attorney general alleged that Donald Trump routinely overvalued his net worth by billions of dollars each year between 2011 and 2021. State Attorney General Letitia James claimed that Trump and some of his associates submitted grossly inflated numbers to banks and insurers to secure and maintain loans and insurance on more favourable terms.The documents alleged that the scheme resulted in hundreds of millions of dollars in ill-gotten savings and profits. Trump and his children also stand accused of deflating the value of certain Trump Organization assets — including golf clubs, luxury hotels and other properties — to reduce taxes.