Statements that can be a legal nightmare

The former president and his Trump organization are currently under scrutiny by the New York Attorney General. The investigations concern tax and insurance crimes, according to The New York Times.

A central aspect of the investigation is determining whether Trump has declared a lower value on his properties to obtain lower taxes. At the same time, he is being investigated for declaring a higher value of bank properties, in order to obtain better loan terms, NTB writes.

According to CNN, Trump is now in danger of being haunted by the above statements.

May give Trump more trouble

The “most favorable calculation method”

In 2007, Trump sued Tim O’Brian, author of the book “Trump Nation,” which is about Trump’s fortune. In this regard, Trump made a series of statements about how he calculated his wealth. According to CNN, Trump said at the time that to some extent he calculated his net worth based on “emotions” and that he used the “most favorable estimate” for some of his values.

When asked if he was exaggerating the values, Trump replied: “Not beyond reason.” It is further said that he said he gave his opinion on the value to a partner, letting him have the final say in the case and finally established the value.

The statements have now been given new life in connection with the ongoing investigation, and the prosecution is now trying to find out whether the “most favorable calculation method” was common practice, or whether the former president has actually committed a crime.

Plot: – Who goes there now?

– Very low price

As Børsen has previously written, the Seven Springs property, a 213-acre parcel of land in Westchester, on the outskirts of New York, is now central to two government investigations in the United States.

Among other things, the investigation covers a tax deduction that Trump received in 2015. The deduction was $ 21 million and was based on a professional appraisal where the property’s value was later set at $ 56.5 million.

Local authorities, on the other hand, believe that the plot is not worth more than 20 million dollars.

In the 2007 lawsuit, Trump was asked about the Seven Springs property, which from 2005 to 2006 nearly doubled in value, from $ 80 million to $ 150 million, according to CNN.

– The property was very low priced, in my opinion. Then it got very … it’s just gone up, Trump said according to CNN.

When asked if he had anything he could base this on, other than his own opinion, he replied:

– I don’t think so, no.

More properties

However, this is not the only Trump property where attention has been drawn to divergent values.

In 2007, Trump was also asked to explain why the office building located at 40 Wall Street in Manhattan, New York, was valued at $ 90 million by appraisers, while Trump estimated the value at $ 400 million.

“Everyone will understand that the price is 15 to 20 percent of the real value of the building,” Trump said.

In connection with the 2007 lawsuit, Trump said Allen Weisselberg, who has been Trump’s accountant for several years and is also one of the leaders of the Trump Organization, was responsible for calculating the property’s value.

“I think in the end, probably Mr. Weisselberg,” Trump was quoted as saying by Reuters.

Trump is also said to have singled out Weisselberg when determining the values ​​of the Mar-a-Lago residence in Florida and the Trump Tower in New York.

– Surprised if he gets in trouble.

The researcher at the Norwegian Research Center (Norce) and the American expert Hilmar Mjelde point out that Trump has long been under investigation in New York for his business.

– Full of pandemic

– Trump has always pushed the boundaries, both in business and in politics. It is not known what he or the company was guilty of, but for now it appears that the law will be on his heels for several years, he tells Dagbladet.

Mjelde points out that the former president has experience fighting in the judicial system and is good at backing down.

– Trump’s best defense letter is that it is always politically sensitive to prosecute a former president because it opens up to accusations of politicizing the judiciary, he says and adds:

– I would be very surprised if Trump ends up in bigger legal trouble.

“Absurdly high estimates”

Former Trump attorney and close associate for many years, Michael Cohen, said in 2019 when he explained to the congressional committee that the Trump Organization sometimes lied about the economy to avoid taxes or to obtain favorable loan deals, writes NBC News.

Cohen, who among other things was convicted of paying a lot of money to a porn star with whom Trump allegedly took a side jump, says he has no doubt that Trump has cheated on the tax.

According to Cohen, he and Weisselberg must have “sprouted” Trump’s asset values ​​for those who came up with a number that satisfied Trump’s ego, writes CNN.

In the book “Disleyal: A Memoir,” Cohen writes, among other things, that he presented “absurdly high estimates” of Trump’s values.

– Witch hunt

In addition to Cohen, the prosecution now hopes to secure Weisselberg as a witness in the case against Trump, according to the channel.

Weisselberg’s attorney does not want to comment on the case to CNN.

On Wednesday of this week, the New York Times wrote that the New York prosecution has sued Weisselberg. According to the main newspaper, Weissberg is not suspected of any crime, but the prosecution hopes the subpoena could lead to evidence against Trump in a possible criminal case.

CNN has also been unable to obtain a comment from Trump’s attorney on the case. However, the former president has taken a hard line against the ongoing investigation, and has previously referred to it as a “political witch hunt.” He has also said that Cohen’s claims of overvaluing his assets are lies.

In late February, a spokesman for the Attorney General’s Office in New York confirmed that Trump’s tax documents for the years 2011 to 2019 had been released. Trump and his lawyers have been trying to stop the extradition for 17 months, according to NTB. .