Trump told banks his 11,000-square-foot Trump Tower triplex was triple that size, New York AG says


New York Attorney General Letitia James took legal action Tuesday night to compel former President Donald Trump and two of his children, Donald Jr. and Ivanka, to appear for sworn testimony as part of her office's ongoing civil investigation of the Trump Organization's financial dealings. James had subpoenaed Trump in December and Don Jr. and Ivanka earlier in January, and Tuesday's motion was in opposition to attempts by the Trumps to quash those subpoenas.
"Thus far in our investigation, we have uncovered significant evidence that suggests Donald J. Trump and the Trump Organization falsely and fraudulently valued multiple assets and misrepresented those values to financial institutions for economic benefit," James said in a statement. "The Trumps must comply with our lawful subpoenas for documents and testimony because no one in this country can pick and choose if and how the law applies to them."
The office of the attorney general's (OAG) new filings includes several news fraud allegations, including that Ivanka Trump held an option to purchase an apartment in the wildly overvalued Trump Park Avenue building for $8.5 million, though Trump's financial statements valued it as high as $25 million.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
And Trump claimed on multiple financial statements that his gilded Trump Tower triplex, assessed at $127 million, was valued at $327 million, "based on the apartment having 30,000 square feet of space multiplied by a certain price per square foot," the attorney general's office said. "However, the actual size of Mr. Trump's triplex apartment was 10,996 square feet, and documents confirming that fact were signed by Mr. Trump himself in 2012," the report states. "In testimony to OAG, Trump Organization CFO Allen Weisselberg admitted that the value of Mr. Trump's apartment was overstated by 'give or take' $200 million."
"As the papers filed today make clear," each of the three Trumps "was directly involved in one or more transactions under review," James' press release says. "While OAG has not yet reached a final decision regarding whether this evidence merits legal action, the grounds for pursuing the investigation are self-evident."
The chances that James eventually pursues legal action are "pretty high," a source familiar with the investigation tells Rolling Stone. "The key thing here is this new information demonstrates that Trump and his family are personally implicated in this fraud." Trump and his lawyers have previously called the attorney general's investigation politically motivated persecution.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
6 charming homes in Rhode Island
Feature Featuring an award-winning home on Block Island and a casket-making-company-turned-condo in Providence
-
Team Trump brings the MAGA playbook to Albania's elections
TODAY'S BIG QUESTION The architects of the president's 2024 victory are looking east to extend their populist reach
-
Narco subs are helping fuel a global cocaine surge
The Explainer Drug smugglers are increasingly relying on underwater travel to hide from law enforcement
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff display
Speed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
How the US bond market works – and why it matters
The Explainer Donald Trump was forced to U-turn on tariffs after being 'spooked' by rise in Treasury yields
-
Who would win in a China-US trade war?
Today's Big Question Tariff pain will be higher for China but Beijing is betting it can weather the storm
-
Lesotho: the tiny African nation in the crosshairs of Trump's tariff war
Under the Radar US president imposes 50% reciprocal levy on the impoverished state: the highest of his so-called 'Liberation Day' tariffs
-
What is the job market's future after Trump's tariffs?
Talking Points Economic analysts are split on what the tariffs could mean for employees
-
Is this the end of globalisation?
Today's Big Question American-led post-war order is 'finally starting to crumble' but that could bring about 'a more inclusive world'
-
How could stock market slides affect you?
Today's Big Question Pensions, prices and jobs at risk as Donald Trump's 'Liberation Day' measures take hold