Trump Facing Three Criminal Probes, 29 Lawsuits, And A $700 Million Loss
It is a tumultuous time for Donald Trump’s legal team, with the former president currently the subject of three criminal probes and 29 lawsuits.
To add to his woes, a new report shows that Trump’s net worth decreased by $700 million during his presidency, much of which has been attributed to the coronavirus pandemic.
Following the results of the US 2020 election, Trump alleged widespread electoral fraud had taken place and even sued several states. All of his claims were dismissed by top election officials.
Fulton County District Attorney Fani Willis is now investigating Trump for ‘the solicitation of election fraud’ after a phone call, leaked by The Washington Post, revealed he had asked Brad Raffensperger to ‘find’ enough votes to swing the state in his favour.
‘All I want to do is this. I just want to find 11,780 votes, which is one more than we have. Because we won the state,’ Trump is heard saying.
In a statement to local outlet WSBTV, Willis described the leak as ‘disturbing’. ‘Anyone who commits a felony violation of Georgia law in my jurisdiction will be held accountable,’ she said.
In Washington DC, District Attorney Karl Racine is currently working to determine whether Trump can face criminal charges for his alleged role in inciting the riots at the US Capitol on January 6 in which five people were killed.
Separately, Manhattan prosecutors are in the midst of a criminal investigation into Trump’s finances. Most recently, people familiar with the probe told The Wall Street Journal that investigators have turned their attention to whether he manipulated the value of his Seven Springs Estate to reap greater tax benefits.
As The Washington Post reports, now that Trump is a private citizen, his legal troubles are growing. This includes 29 lawsuits, some of which allege that he encouraged his supporters to march o the Capitol on January 6 and are seeking damages.
His actions on January 6 have also brought economic loss.
Using data from its Billionaire’s Index, coupled with information from financial disclosures, loan documents and filings with the Security Exchange Commission, Bloomberg estimates that Trump’s $3 billion net worth in February 2016 is now sitting at $2.3 billion.
While much of this has been attributed to the pandemic, many organisations and former lenders cut ties with Trump after the Capitol riots.
Deutsche Bank, which had been one of Trump’s most important lenders, announced it would no longer do business with the former president. He reportedly owes the bank more than $300 million in outstanding loans.
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