AG Letitia James’ entire press conference read like a criminal’s grocery list from the Trump family.
“Mr. Trump also blatantly ignored legal restrictions at Mar-A-Lago. Mar-A-Lago was valued on the false premise that it sat on unrestricted property and could be developed for residential use. however, Mr. Trump knew that Mar-A-Lago was subject to a host of onerous restrictions and limitations,” James stated..
“Despite these significant restrictions,Mr. Trump valued the property based on the false premise that it was an unrestricted 18-acre plot of land that could be sold and used as a private home,” she said.
“The valuations represent that these restrictions don’t even exist. The club generated annual revenue of less than $25 million and should have been valued at more than — valued about $75 million. However, Mar-A-Lago was valued as high as $739 million,” James said.