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Trump Inflated Net Worth Up To $2.2b Per Year From 2011 To 2021 – Prosecutors

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Former US President Donald Trump looks on after delivering an update on “Operation Warp Speed” in the Rose Garden of the White House in Washington, DC on November 13, 2020. (Photo by MANDEL NGAN / AFP)

Donald Trump routinely overvalued his net worth by billions of dollars each year between 2011 and 2021, New York’s attorney general alleged on Wednesday.

In documents filed in support of an ongoing $250 million civil suit against the former president, state Attorney General Letitia James claimed that Trump and some of his associates submitted “grossly inflated” numbers to banks and insurers “to secure and maintain loans and insurance on more favorable terms.”

The scheme resulted in “hundreds of millions of dollars in ill-gotten savings and profits,” the documents alleged.

James’ lawsuit against the current Republican frontrunner in the 2024 presidential race dates back to last year, when she accused Trump, some of his children and the Trump Organization business of tax and financial fraud.

Trump and his children also stand accused of deflating the value of certain Trump Organization assets — including golf clubs, luxury hotels and other properties — to reduce taxes.

The trial is due to start October 2, with a preliminary hearing September 22, though James, a Democrat, is seeking to have the court resolve the case before it goes to trial based on the documents submitted Wednesday.

They allege Trump overstated his wealth each year between 2011 and 2021, including the years he was president, between 17 and 39 percent — amounting to $812 million and $2.2 billion each year.

“Based on the undisputed evidence, no trial is required for the Court to determine that Defendants presented grossly and materially inflated asset values,” to help them conduct “business transactions and defraud banks and insurers,” prosecutors argued.

In January, the Trump Organization was fined $1.6 million by a New York judge in a criminal tax and financial fraud case.

If James’ civil case against Trump goes to trial, it will be one more for the candidate to have to juggle while also zipping across the country on the campaign trail.

Trump is facing four criminal trials for actions allegedly taken before, during and after his presidency — state cases in New York and Georgia and two federal cases in Florida and Washington.

Trump has in the past denounced the case as a “witch hunt,” calling James, who is Black, “racist.”

 

 

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Iru Ekun arrests two suspected kidnappers, rescues abductees in Osun

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Operatives of the Iru Ekun Security Network have arrested two suspected kidnappers and rescued two abducted residents during a forest operation in Ora-Igbomina, Osun State.

The victims, who were reportedly abducted by gunmen on Tuesday and taken into a nearby forest, regained freedom after members of the local security outfit launched a coordinated search operation following distress reports from residents.

A third victim, however, remained in captivity as of Thursday, with efforts ongoing to secure the person’s release.

According to a statement issued by the outfit, the rescue operation followed intelligence received on June 9 that three residents had been forcibly taken away by armed men in the community, triggering fears among locals already worried about rising insecurity in rural areas.

Residents were said to have spent anxious hours hoping for the victims’ safe return before the intervention by the security operatives.

During the operation carried out on Wednesday, the outfit said its operatives tracked the suspects into a forest around Ora-Igbomina, where two suspected kidnappers were overpowered and arrested.

The security outfit disclosed that two victims were rescued unhurt and immediately evacuated to safety.

The team leader of the network claimed that the suspects confessed during preliminary interrogation to being nationals of the Republic of Niger.

The suspects were later handed over to officers of the Nigeria Police Division, Oke-Ila, Osun State, for further investigation and possible prosecution.

Founder of the outfit, Sunday Adeyemo, popularly known as Sunday Igboho, commended the operatives for what he described as discipline and professionalism during the mission.

He said the security network was created to complement the efforts of conventional security agencies, especially in rural communities where delayed emergency response often leaves residents vulnerable to attacks.

“Our duty is prevention and protection, not confrontation. Iru Ekun exists to bridge the security gap at the grassroots and ensure our people can farm, travel, and sleep without fear,” he said.

The incident comes amid growing concerns over kidnapping in parts of the South-West, particularly in rural communities across Osun, Oyo, Ondo, and Kwara states, where criminal gangs are increasingly exploiting forest routes to target residents and farmers.

Meanwhile, the security outfit said efforts to rescue the remaining victim were continuing, assuring residents that the search operation was being handled cautiously to guarantee the victim’s safety.

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Reps Pass State Police Bill, 288 Lawmakers Vote in Support

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The House of Representatives on Thursday passed the bill seeking to establish state police, with 288 lawmakers voting in support of the proposal and four opposing it.

The resolution followed voting during plenary presided over by the Speaker of the House, Tajudeen Abbas, a day after members of the Green Chamber devoted legislative time to debating the contentious bill.

Announcing the outcome of the exercise, Abbas said lawmakers adopted a manual voting process through a show of hands following the failure of the electronic voting system.

The proposed legislation seeks to strengthen Nigeria’s security architecture by creating an additional layer of policing at the state level while providing constitutional safeguards, operational frameworks, oversight mechanisms, and clearly defining the powers of federal and state policing authorities.

The passage of the bill marks a significant legislative step in the long-running national conversation on decentralising policing amid worsening insecurity in several parts of the country.

Before the voting, the House released the final print of the Constitution Alteration Bills seeking to provide a constitutional framework for the establishment of state police and other reforms.

In a statement issued earlier, the House spokesman, Akintunde Rotimi, said the proposed constitutional amendments reflected months of legislative work by the House Committee on Constitution Review.

Rotimi said the review process followed the receipt and consideration of constitutional amendment proposals from lawmakers, government institutions, professional bodies, civil society organisations, traditional institutions, and citizens.

According to him, the process also involved extensive stakeholder engagements, including zonal and national public hearings, expert sessions, consultative meetings, and town hall meetings held across the six geopolitical zones to ensure broad public participation.

“The bills represent the culmination of several months of rigorous legislative work undertaken by the House Committee on Constitution Review,” the statement read.

The House decision comes amid renewed concerns over insecurity, banditry, kidnapping, and violent attacks in parts of the country, with proponents arguing that state police would improve grassroots security and response time.

Meanwhile, the Senate has passed the state police bill for second reading and referred it to the Senate Committee on Constitution Review.

Senate President Godswill Akpabio, during plenary, said lawmakers would vote on the bill at a subsequent sitting.

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Oseni fulfils ₦5m pledge for Anfaani Central Mosque solar project

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Member of the House of Representatives representing Ibarapa East/Ido Federal Constituency,  Engr. Aderemi  Oseni, has fulfilled his earlier pledge towards the execution of a solar power project at the Anfaani Muslim Community Central Mosque in Ibadan South-West Local Government Area of Oyo State.

The lawmaker, who chairs the House Committee on Federal Roads Maintenance Agency (FERMA), released the pledged ₦5 million to facilitate the execution of the project, according to a statement issued on Wednesday by his media aide, Idowu Ayodele and made available to journalists in Ibadan.

The statement explained that the release of funds was in fulfilment of Oseni’s commitment to support the mosque’s solar power initiative, noting that the project would be executed at the discretion of the mosque’s central committee.

The media aide said the intervention underscored the lawmaker’s sustained commitment to faith-based institutions, community development and humanitarian service.

“The ₦5 million earlier pledged by Hon. Remi Oseni for the Anfaani Muslim Community Central Mosque solar project has now been fully released for the execution of the project,” the statement said.

“It is important to state that the implementation and handling of the project remain entirely at the discretion of the Central Mosque Committee in line with the leadership structure and priorities of the religious body.”

Oseni, who is also the All Progressives Congress (APC) senatorial candidate for Oyo South Senatorial District ahead of the 2027 general elections, described support for religious institutions as both a privilege and responsibility.

According to him, contributing to initiatives that strengthen worship centres and foster communal development remains an act of service to humanity.

“I had the honour and privilege of supporting the Anfaani Muslim Community Central Mosque with the sum of ₦5 million towards the execution of its solar power project. Supporting institutions devoted to worship and community development is always a blessing and profound responsibility,”

The APC chieftain was quoted as saying.

He added that opportunities to impact society positively should never be taken for granted.

“Whenever we are presented with opportunities to uplift faith-based institutions and contribute to the wellbeing of our communities, we must embrace them with sincerity and gratitude,” he said.

The lawmaker further prayed for continued peace, progress and prosperity across communities, expressing optimism that religious institutions would continue to serve as pillars of moral guidance and social development.

“May Almighty God continue to strengthen our religious institutions, bless our communities with peace, and prosper every effort geared towards the advancement of faith, unity and humanity,” he added.

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