Tate Lawyers Say $7 Million Bugatti and $50 Million Yacht Were Rented to Fake Wealth
Updated
Updated · Forbes · Aug 25
Tate Lawyers Say $7 Million Bugatti and $50 Million Yacht Were Rented to Fake Wealth
3 articles · Updated · Forbes · Aug 25
Summary
New court filings say Andrew and Tristan Tate falsely projected themselves as “uberwealthy,” with lawyers arguing social-media displays of luxury were performance rather than proof of assets.
The filings say marquee status symbols — including a $7 million customized Bugatti, a $2.1 million Aston Martin and yachts — were rented or corporate-leased, while watch-collection valuations were speculation, not evidence of ownership.
Lawyers said the exaggerated image helped sell money-making courses such as $49.99-a-month Hustlers University and a $5,000 offshore tax and asset-management class by convincing followers the brothers had vast resources.
The defense lands as the brothers remain in federal custody in Miami fighting extradition to the U.K., where they face nearly 60 charges; they also face separate cases in Romania and a civil suit in England.