New York Prosecutors Find Evidence of Trump Tax Evasion: "Received Benefits by Misrepresenting Real Estate Values"

[Image source=AP Yonhap News]

[Asia Economy New York=Special Correspondent Joselgina] The New York State Attorney General's Office announced on the 19th (local time) that it has confirmed that former U.S. President Donald Trump and the Trump Organization manipulated asset values to receive benefits such as loans and tax advantages.

According to the Wall Street Journal (WSJ) and others, Letitia James, New York State Attorney General, submitted a document containing this information to the court the previous day. The document was included in the process of requesting the court to compel former President Trump and his children, Donald Trump Jr. and Ivanka Trump, to comply with the civil investigation subpoenas from the New York State Attorney General's Office. They are currently showing signs of non-compliance with the subpoenas.

According to the document, the New York State Attorney General's Office has secured multiple pieces of evidence that former President Trump and the Trump Organization falsely appraised asset values and submitted them to financial institutions to receive benefits such as loans, insurance coverage, and tax deductions.

Specific allegations and evidence were also included. The assets whose values were manipulated include New York State real estate known as 'Sevensprings,' the penthouse of Trump Tower in New York, and golf courses in Scotland. The actual area of the Trump Tower penthouse is 10,996 square feet, but former President Trump's side calculated it as 30,000 square feet, valuing the apartment at $327 million (approximately 389.5 billion KRW).

Additionally, former President Trump falsely reported that there were seven mansions on Sevensprings that do not exist and overvalued the golf course in Los Angeles. The New York State Attorney General's Office claims that through this, former President Trump's side received tax deductions worth millions of dollars from the Internal Revenue Service.

Attorney General James stated, "Former President Trump and the Trump Organization inflated multiple asset values and submitted false information to financial institutions to gain economic benefits," adding, "It is clear." However, former President Trump's side maintains that the claims are politically biased and baseless. WSJ reported that they did not respond to requests for comment regarding this matter.

This content was produced with the assistance of AI translation services.