Summary of This Suit Will Destroy The Trump Org

00:00:00 - 00:35:00

The New York State Attorney General has filed a civil enforcement action against Donald Trump and the Trump Organization for a decade of fraud involving property valuations. The complaint alleges that Trump and the Trump Organization knowingly and intentionally created more than 200 false and misleading valuations of assets on his annual statements of financial condition in order to defraud financial institutions. Trump's longtime accounting firm cut ties with the Trump Organization in February of 2020. The withdrawn statements formed the backbone of the state's lawsuit. The complaint alleges that Trump and other defendants engaged in conduct meant to mislead mazors in connection with its work compiling the statements.

• 00:00:00 The New York State Attorney General has filed a civil enforcement action against Donald Trump and the Trump Organization for a decade of fraud involving property valuations. The complaint alleges that Trump and the Trump Organization knowingly and intentionally created more than 200 false and misleading valuations of assets on his annual statements of financial condition in order to defraud financial institutions. Trump's longtime accounting firm cut ties with the Trump Organization in February of 2020. The withdrawn statements formed the backbone of the state's lawsuit. The complaint alleges that Trump and other defendants engaged in conduct meant to mislead mazors in connection with its work compiling the statements.
• 00:05:00 The Trump Organization was investigated by the New York Attorney General for inflating the square footage of a penthouse in order to increase the value of the property. The AG is seeking dramatic remedies, including the discouragement of 250 million dollars in Trump organization profits, the cancellation of business certificates for Trump's corporate entities, and a five-year ban on Trump and his company from entering into any New York commercial real estate transactions.
• 00:10:00 The video alleges that the Trump Organization committed persistent acts of fraud, hiding key information from lenders, insurers, and other entities, and falsifying business records in order to increase Trump's reported net worth. The suit also alleges that Trump and his associates acted with intent to defraud, and that they altered, deleted, and prevented the making of true entries in business records in order to deceive.
• 00:15:00 The video alleges that the Trump Organization committed insurance fraud by inflating the value of Trump's properties, concealing information from insurance companies, and failing to disclose an investigation into Trump and his employees.
• 00:20:00 The Trump Organization is accused of conspiring to break the law, with the state alleging that they committed persistent and repeated fraud over the course of more than a decade. In response, the Trump Organization has filed a federal lawsuit requesting an injunction blocking the Attorney General's office from continuing its investigation. However, the Fifth Amendment is still a protection for those involved in a criminal case, as Trump has been known to invoke it in the past.
• 00:25:00 In a video titled "This Suit Will Destroy The Trump Org," a source with knowledge of the deposition says that Trump took the fifth more than 440 times declining to answer every question except one. This led to a high number of invocations of the Fifth Amendment. Witnesses who seek to invoke their Fifth Amendment rights must assert the privilege in response to particular questions asked or evidence sought. A preemptive blanket assertion of the fifth amendment in response to all anticipated questions is not permitted and any delay or failure to assert one's Fifth Amendment rights may result in a waiver of that privilege. Trump was asked a few preliminary questions but the vast majority of the deposition was conducted by his Deputy according to Trump attorney Ron fischetti. Trump repeated the same answer of invoking his Fifth Amendment right not to testify over and over again. They asked a lot of questions about valuations and golf clubs and all that stuff. Trump's attorney claimed that Trump actually wanted to answer the questions but had to be be talked out of it by his attorneys. Trump wanted to testify and it took some very strong persuasion by me and some others to convince him. Now after this deposition Trump posted the following on Truth social: "very professional meeting have a fantastic company with great assets very little debt and lots of cash
• 00:30:00 The video discusses how invoking the Fifth Amendment right in a civil context can have serious consequences for someone, such as the Trump Organization, their kids, and other randos. The legal basis for the New York state civil enforcement action against Trump, his kids, and others is explained.
• 00:35:00 This video provides an overview of 80,000 Hours, a non-profit organization that focuses on helping people find the most impactful careers they can. The organization provides a free career guide and newsletter, which can help people learn about what makes for a high impact career. If you're thinking about your career, or would like to improve your current career path, then you should consider subscribing to the newsletter.