Trump Family, Trump Organization Sued by New York Attorney General for Decades of Alleged Fraud

On Wednesday morning, after a year-long investigation into the ex-president and the business he owns and runs with his children, the New York Attorney General Letizia James dropped a bombshell that is likely still echoing through the halls of Mar-a-Lago: a massive, unprecedented lawsuit against Donald Trump, Ivanka Trump, Donald Trump Jr., eric trump, and the Trump Organization, which have allegedly spent years lying to lenders and insurers, fraudulently inflating assets, and violating state criminal statutes.

In addition to allegedly With a $250 million fine, James hopes to stop the entire Trump family from ever running a business in New York again. “The number of grossly inflated assets is staggering and affects most, if not all, real estate holdings in any given year,” the lawsuit states. While Trump has long been suspected of inflating his own fortune for ego purposes, according to James, the lies her office uncovered were part of a larger, more organized conspiracy.

Per The New York Times:

The 220-page lawsuit, filed in New York State Supreme Court, sets out in new and surprising detail how Ms James said Mr Trump’s financial statements were a compendium of lies. The declarations, annual records that include the estimated value of his holdings and the company’s debts, have massively inflated the value of almost every one of his marquees — from Mar-a-Lago in Florida to Trump Tower and 40 Wall Street in Manhattan driven the lawsuit. The company also routinely disdained the assessments of external experts: After a bank commissioned an assessment that 40 Wall Street had found to be $200 million, the Trumps promptly valued it at well over double. Overall, the lawsuit alleges that 11 of Mr Trump’s financial statements contained more than 200 false and misleading valuations of assets.

Ms James, who has become one of Mr Trump’s main antagonists, is trying to extort a hefty price from the former President and his company. Her lawsuit asks a judge to appoint an independent observer to oversee the company’s financial practices while the Trumps are ousted from running their own family business; Ms. James also wants to prevent the family from acquiring real estate in New York for five years to prevent the company from reinventing itself in Florida and expanding its New York operations.

In announcing the action against the company on Wednesday, James said the ex-president not only “betrayed the system” but “all of us”. On Twitter her wrote: “There are no two laws for the people of this nation: The same standards must apply to former presidents as to ordinary Americans.”

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While James does not have authority to indict Trump on any criminal charges as it is a civil charge that Times notes that “a footnote in the complaint says that it has provided its findings to the United States Attorney’s Office for the Southern District of New York and finds that the conduct described in the complaint appears to violate federal law, particularly.” Bank fraud and false information about a bank.”

In a statement, Trump’s attorney Alina Habba insisted the allegations were politically motivated and “unfounded”.

https://www.vanityfair.com/news/2022/09/letitia-james-donald-trump-trump-organization-trump-children-lawsuit Trump Family, Trump Organization Sued by New York Attorney General for Decades of Alleged Fraud


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