Trump’s 'empire' may have always been a myth — and it appears that the clock is nearing midnight.
Perhaps we should put the word empire in quotes. The Trump Organization’sare eye popping. To name just a few examples from the suit: It alleged that Trump’s Manhattan penthouse was overvalued by 400%, that the Trump Organization valued rent-controlled 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, whereas the true value is approximately $75 million.
If the allegations in James’ suit are proven true, Trump didn’t accidentally misstate the value of some of his properties; he grossly, exorbitantly overvalued his properties. He did this, allegedly, to get favorable loans, insurance and tax treatment. He failed up, repeatedly, and ultimately landed in the most powerful office in the world.But there’s more to Trump’s alleged financial fraud than just getting bigger loans or paying lower taxes.
In many ways, his tale reflects a common American narrative of relentless pursuit of wealth and opulence. We all know the story of, the now-infamous fraudster and con artist who claimed to be a wealthy German heiress to infiltrate the elite circles of New York society, duping banks and lenders into funding her fabricated lifestyle.
Trump of course has never been convicted of any crime, and it could be argued that he is the elite circle, not an outsider; but James’ allegations imply that he got where he is today via fraudulent actions. Only in his case, he won the presidency and ushered in a precarious era of instability for 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 his tactic out of court will be to call the suit against him a political witch-hunt. We know his strategy in court will be to
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