The Intelligence from The Economist

Empire State v real-estate empire: Donald Trump’s legal woes

Sep 23, 2022
Idris Kaloun, the Economist's Washington Bureau Chief, dives into Donald Trump's myriad legal challenges, including a sweeping lawsuit by New York's attorney general and allegations surrounding January 6th. Guy Scriven discusses the rapidly evolving cloud computing industry, spotlighting major shifts and key players like Amazon. Meanwhile, Charlotte McCann reflects on the cultural impact of 'The Joy of Sex' 50 years later, exploring how it reshaped views on sexuality amid significant social movements of the 1970s.
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ANECDOTE

Trump's Legal Troubles

  • Donald Trump faces multiple legal challenges, including an FBI raid on Mar-a-Lago and investigations into election interference.
  • New York's attorney general filed a lawsuit alleging fraud within the Trump Organization.
INSIGHT

Nature of NY Lawsuit

  • New York's lawsuit against Trump is civil, not criminal, but a referral to federal prosecutors was made for potential tax crimes.
  • The lawsuit alleges that the Trump Organization inflated asset values for financial gain, citing 200 instances in financial statements.
ANECDOTE

Examples of Inflated Valuations

  • Trump's apartment size was inflated in company documents, leading to an inflated valuation higher than any apartment sold in NYC.
  • Mar-a-Lago's value was also inflated, falsely assuming development rights Trump had signed away.
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