How Screwed Are Donald Trump and His Adult Children, and Other Questions You Might Have About the “Staggering” Fraud Lawsuit Against Them

By now you’ve probably heard the news that on Wednesday morning the New York Attorney General Letizia James filed a huge lawsuit against it donald trump, his three eldest children and the Trump Organization, who accuse more than a decade of “harrowing” fraud that allowed the family to rake in hundreds of millions in ill-gotten gains. In a 222-page filing, James accused the defendants of systematically lying about the value of their wealth for years to guarantee bigger loans, better insurance rates and lower tax bills. For example, while 40 Wall Street, a downtown building owned by the Trump Organization, was valued at $200 million on a tax return in 2010, the next year the valuation had suddenly skyrocketed to $524 million . Overall, the complaint alleges that defendants made over 200 false and misleading assessments from 2011 to 2021, some of which were made during Trump’s presidency. “The pattern of fraud used by Mr. Trump and the Trump Organization has been amazing,” James told reporters, noting that it’s illegal for ordinary people to lie to banks to secure credit, whether for mortgages or to get around to send their children to college. “There can’t be different rules for different people in this country or in this state,” she said. The AG’s office is seeking $250 million in damages and a permanent ban on the ex-president. donald trump jr, Ivanka Trump, and Eric Trump from ever conducting a business in New York again, among other penalties.

At this point, you probably have questions. Luckily we have answers.

Exactly how did the scam alleged by James work?

To be honest, it was pretty simple: they (allegedly) just did shit, and pretty brazenly so. For example, Trump’s triplex in Trump Tower is 10,996 square feet. But in 2015, he said claims it was about three times that size to hit a utterly ridiculous valuation of $327 million. (“This price was absurd given the fact that at that time only one apartment in New York City had ever sold for even $100 million, at a price per square foot of less than $10,000, and that sale was in a newly constructed building “Ultra-tall tower,” James’ office said. “The 30-year-old Trump Tower had record sales at the time of just $16.5 million at less than $4,500 per square foot.”) On Trump Park Avenue, man treasured with his name on the door, per james, “12 rent-stabilized units at market price, inflating the value by 65 times.” At Mar-a-Lago, his Palm Beach for-profit club and home, Trump said the property was worth $739 million, although it was due to development constraints is actually worth about a tenth of that (and we’re guessing). , the ketchup stains that you can’t remove from the carpets). A Westchester golf club was rated by considering high entry fees that were never charged. The lawsuit contains numerous other examples of what the AG’s office calls false financial records, including one in which Trump allegedly inflated his fortune with financial statements filed with Deutsche Bank when he attempted to purchase the Buffalo Bills.

They say children shouldn’t have to pay for their father’s sins. Are Don Jr., Ivanka, and Eric being unfairly dragged into all of this? Are they really just innocent children that we should all give a rest?

[Author flashes the “give me a minute sign” while she catches her breath from laughing.]

In a word, no. In a few words: No! Come on! According to James, Trump’s three eldest children — all of whom served as executives at the firm — “knowingly participated” in the fraudulent schemes detailed in the complaint, which “required” both Trump and their support to pull off such a large sum of scale . In Vegas, for example, the lawsuit alleges Eric Trump used “the fraudulent valuation methods and assumptions” established by the AG to inflate the value of Trump Vegas each year from 2013 through 2016. Donald Trump Jr. was apparently involved in the Trump Park Avenue scam. Ivanka, the apple of the ex-president’s very creepy eye, was allegedly involved in securing loans to purchase properties in Florida and Chicago in 2012, loans made in part on false balance sheets. “In each of these transactions with Deutsche Bank, Ms. Trump was aware that the transactions involved a personal guarantee from Mr. Trump requiring him to provide annual financial statements and certifications,” the lawsuit reads.

You’ve spoken of Trump’s “grown children” but left out 28-year-old Tiffany. Has she been sued too?

She was not. Tiffany never worked for the Trump Organization, and while she may have felt left out of the family growing up, it’s obviously paying off for her now.

Where was Trump when he found out about the lawsuit?

This is not clear at this point; he most likely tried to intercept the mail before his housekeeper could open the penis enlargement pills he had ordered from China a week earlier, despite telling everyone that he had something PRIVATE and that they should NOT search his belongings.

How does this relate to the Manhattan District Attorney’s criminal case against the Trump Organization?

The cases are separate but have some overlap. Both offices launched parallel investigations into suspected fraud by the Trump Organization, and in 2021 the attorney general’s office joined the prosecutor’s office in criminal investigations. In July 2021, the Trump Organization and its longtime CFO Allen Weisselberg, were criminally charged by prosecutors for participating in a year-long scheme to provide non-tax benefits to corporate executives. Weisselberg pleaded guilty last month and, as part of the deal, must testify against the Trump Organization, which has pleaded not guilty, at a trial scheduled for October.

In her filing Wednesday, James said her lawsuit was based in part on Trump’s alleged instructions to Weisselberg to inflate his assets in financial statements. Weisselberg, along with another Trump Organization controller Jeffrey McConney, were also named as defendants.

If James’ lawsuit is a civil one, does that mean the Trumps don’t have to worry about jail time?

Not exactly! While it’s true that James’ office does not have the authority to prosecute the Trumps, she has referred her findings to federal prosecutors and the Internal Revenue Service and found that they not only allegedly violate a number of state criminal statutes, but “plausible” also broke federal criminal law.

In related news, Manhattan District Attorney Alvin Brag said Wednesday his criminal “investigations into former President Donald J. Trump, the Trump Organization and their leadership are active and ongoing.”

Does it overlap with the investigation of classified information?

You know, you wouldn’t believe it, but actually yes. In a suit, James’ office said It believes tax records seized during the FBI’s Mar-a-Lago raid may have been deliberately hidden from them. synergies!

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