Son of former President Donald Trump, Eric Trump, asserted that the judge in a New York fraud case significantly undervalued his father’s Mar-a-Lago resort.
What Happened: Eric Trump took to social media platform X (formerly Twitter), to voice his discontent, claiming that the Palm Beach property’s actual worth could well exceed a billion dollars, contrary to the judge’s valuation.
"In an attempt to destroy my father and kick him out of New York, a judge just ruled that Mar-a-Lago, in Palm Beach Florida, is only worth approximately '18 Million dollars'…Mar-a-Lago is speculated to be worth we'll over a billion dollars making it arguably the most valuable residential property in the country. It is all so corrupt and coordinated," Eric Trump wrote.
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In a separate post, Eric Trump also shared an unverified screenshot displaying property listings in Palm Beach, with apparent market values exceeding $35 million. "These homes are about 1/30 the size of Mar-a-Lago, not on the beach (let alone the beach and intercostal), don't span from one side of the Palm Beach Island to the other…it is a travesty of justice and embarrassment to the court," he wrote.
Why It Matters: Judge Arthur Engoron, in his court ruling, found that Trump had committed fraud by inflating the value of multiple properties, including Mar-a-Lago by at least 2,300%. He referenced a Palm Beach County Assessor’s appraisal from 2011-2021, which pegged the property’s value between $18 million and $27.6 million.
These allegations form part of a larger lawsuit filed by New York Attorney General Letitia James against Trump and his organization, accusing them of decades-long fraud. This $250 million lawsuit alleges that the Trump company manipulated asset values to obtain lower taxes and better insurance coverage.
Following the ruling, certain business licenses of Trump have been revoked, and an independent monitor has been assigned to oversee the Trump organization. The case is set to go to trial next week.
Photo by Joseph Sohm on Shutterstock
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