It’s worth noting how, despite the numerous rhetorical attacks from Trump on Adam Schiff during the former’s time in power, Schiff is still in a position of legislative importance, while Trump is… on Truth Social.
Now, the ex-president is facing a sweeping civil lawsuit from New York state Attorney General Letitia James, who is alleging a years-long pattern of financial misconduct at the Trump family business centering on deceptive valuations of upwards of nearly two dozen company assets, including Mar-a-Lago. James alleges the false statements of value provided for a quarter of a billion dollars to the Trump business operation, which she wants returned, alongside other proposed penalties — if she is successful in court — like bans on the targeted Trumps serving as officers or directors at any New York business.
“Donald Trump has never been more than a grifter,” Rep. Adam Schiff (D-Calif.) said Wednesday. “Swindling his customers, his contractors, and the country. But justice may be finally catching up with him. To vindicate the interests of all those he defrauded. And to protect a country he divided and endangered.” In James’s case, she cites over 200 examples of misleading valuations from the Trump family business. In one instance, a bank-ordered appraisal pinned the value of a Trump property at 40 Wall Street in Manhattan at $200 million, and a subsequent valuation from the Trump company more than doubled the previous appraisal’s conclusion. The differences in valuation between third party findings and the Trump company’s separate assertions get even more dramatic. Apartment space owned by the company on Park Avenue in New York was pinned by an independent appraisal at $750,000, and in 2011 and 2012, the Trump company claimed values of almost $50 million.
As for Mar-a-Lago, the value of the infamous southern Florida property was presented as though development that was restricted by agreements into which the Trump company entered was actually still a possibility. Trump reacted to the revelation of James’s legal action with predictable antagonism, falsely claiming that she’s focusing on these issues instead of violent crime in New York. The attorney general and her team can deal with two categories of concern at once. James also addressed how what Trump and his adult children with prominent ties to the business stand accused of doing impacts everyday folks. “Trump’s crimes are not victimless,” James said. “When the well-connected and powerful break the law to get more money than they are entitled to, it reduces resources available to working people, small businesses, and taxpayers.” James also provided information from her investigation to the IRS and Manhattan U.S. Attorney’s office, further expanding Trump’s potential exposure. Trump’s lies are meeting accountability.
Donald Trump has never been more than a grifter.
Swindling his customers, his contractors, and the country.
But justice may be finally catching up with him.
To vindicate the interests of all those he defrauded. And to protect a country he divided and endangered.
— Adam Schiff (@RepAdamSchiff) September 21, 2022