two sheds
Least noticed poster 2007
Trump will no longer send out his statements of worth
A fraud monitor says Trump 'does not intend to develop any estimations of value' from now on. Past net-worth statements earned him a $454M penalty.
www.businessinsider.com
It's the end of an error. Or, by New York Attorney General Letitia James' count, it's the end of at least 200 errors.
According to the latest report from his court-mandated fraud monitor, Donald Trump is officially through with boasting about his wealth in those wildly exaggerated net-worth statements he used to send out each year.
In fact, Trump is calling it quits on officially stating the value of even his individual properties, the report says. He is finished, in other words, with saying "I'm rich" in any financial document that could come back to bite him.
Trump's fraud monitor, Barbara Jones, revealed this new commitment to caution in a footnote to her latest report, made available in online court records last week.
Jones is the retired federal judge who has been monitoring Trump's real-estate empire, the Trump Organization, for almost two years, ever since the AG and state Supreme Court Justice Arthur Engoron found persistent fraud in a decade of those annual net-worth statements.
The bank typically lowered Trump's numbers by set percentages — adjustments they called a "Trump haircut" — in large part to account for what they presumed were his exaggerations.