On Wednesday, New York Attorney General, Letitia James filed a lawsuit against Donald Trump, his family including three children and his businesses including the Trump Organization. The suit alleges that all of them were involved in a fraud that spanned several years and that Trump had enriched himself with financial benefits for the past decade.
The lawsuit, which is more than 200-pages long, alleges that fraud took place in many aspects of the businesses such as properties and golf courses. It stated that the Trump Organization had practiced deceitful methods that affected lenders, insurers and tax authorities. It said that misleading appraisals were used by the Trump Organization to inflate the value of his properties.
The lawsuit names the following persons:
Donald Trump
Donald Trump Jr.
Eric Trump
Ivanka Trump
Allan Weisselberg, former CFO of the Trump Organization
Jeff McConney, longtime executive of the Trump Organization.
According to the Office of the New York State Attorney General, it is seeking to permanently disbar Trump and his three children from serving as an officer or as a director in any corporation or business entity registered, incorporated or licensed in New York.
It also asks for Trump and his organization not to be allowed to enter into any real estate acquisitions for the next five years in New York. It also wants an award of approximately $250 million as this amount was allegedly earned through fraudulent practices.
The Office of the Attorney General (OAG) has referred the matter for criminal investigation to two federal agencies: The Internal Revenue Service (IRS) and the U.S. Attorney General.
The lawsuit also claimed that 11 annual statements had more than 200 false as well as misleading valuations of assets. The properties included those that were in New York and Florida.
New York Attorney General Letitia James began scrutinizing Trump and the Trump Organization from 2019. James’ office and Trump’s lawyers have had contentious exchanges as they often refused to comply with the office and provide them with the requested information. Former president Donald Trump himself has called it a witch hunt in the past as well as commented in the same vein recently on his platform Truth Social.
Trump sues Attorney General Letitia James to stop probe on Trump Organization’s Business Practices
