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Hyperbole or Fraud? The Question at the Heart of Trump Investigation.

On Wednesday, Alan S. Futerfas, a lawyer for Donald Trump Jr. and Ms. Trump, said in a statement that the attorney general’s court papers did not address the central arguments the family raised in their effort to block the questioning, which included several examples of Ms. James saying publicly that she would use her office to pursue a case against Mr. Trump and his business.

“In 160 pages of legal briefing, the attorney general’s office deliberately fails to address Ms. James’s repeated threats to target the Trump family,” the statement said.

Ms. James did not go quite so far as to accuse Mr. Trump of committing fraud, saying instead that his actions were either “fraudulent or misleading” and that the evidence she had uncovered “suggests” that the company misrepresented the value of its assets.

Mr. Trump’s lawyers are likely to argue that property valuations are subjective and can ebb and flow from year to year.

But in more than 100 pages, Ms. James laid out examples of what she said were misrepresentations about some of his high-profile properties, from his flagship building on 40 Wall Street in Manhattan to his golf clubs in New York, California and Scotland.

Along the way, her lawyers uncovered new examples of Mr. Trump’s well-known tendency to make exaggerated statements. In one instance, their filing said, Mr. Trump had claimed that 16 lots on his golf course in Los Angeles should be valued higher than others, because they were in a “more prestigious ZIP code.” But when one of Mr. Trump’s associates looked to confirm that, she found that the lots were in the same ZIP code as their neighbors.

And Mr. Trump seemed to have particular difficulty restraining himself when it came to the value of his own home. Not only did Ms. James say that he had claimed that his Fifth Avenue apartment was 20,000 square feet larger than it was; she also found that he had valued its price per square foot at colossal amounts: in 2012, at $6,666 per square foot and three years later, at $10,900. By comparison, residences nearby, including within Trump Tower itself, have sold for about a quarter of that higher price.

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