James’ lawsuit alleges that Trump and his company made numerous false claims in the financial statements submitted to banks. In a recent court filing, James’ office asserted that Trump had significantly overstated his wealth by up to $3.6 billion.

Among the accusations, it was claimed that Trump exaggerated the size and value of his Trump Tower penthouse in Manhattan, valuing it at an astonishing $327 million, nearly three times its actual worth. James pointed out that no apartment in New York City had ever sold for anywhere close to that amount.

Furthermore, Trump valued Mar-a-Lago at an excessive $739 million, over 10 times its more realistic estimated value, according to James. Trump’s valuation was based on the idea of potential residential development, despite deed restrictions prohibiting such development on the property while he resides there.

Trump has vehemently denied any wrongdoing and argued in sworn testimony for the case that the accuracy of his financial statements was irrelevant because they included a disclaimer stating they should not be relied upon.

He and his legal team have also contended that no one suffered harm as a result of the information in the financial statements. The banks he borrowed money from were fully repaid, business partners profited, and Trump’s own company thrived.

James’ lawsuit represents just one of the legal challenges facing Trump as he campaigns for a return to the White House in the upcoming presidential election. Since March, he has faced four indictments, including allegations of attempting to overturn the 2020 election results, mishandling classified documents, and falsifying business records related to hush money payments made on his behalf.

The trial could last into December.

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