NY AG sues Trump and kids over ‘shocking’ fraud
STORY: Former U.S. President Donald Trump and his adult children were indicted on Wednesday… New York State Attorney General alleges extensive fraud… Alleging the family inflated real estate values to obtain preferential loans and taxes Letitia James’ move Marking one of the biggest legal blows to date against the former president. “The pattern of fraud and deception used by Mr. Trump and the Trump Organization for their own financial gain is appalling.” The former president’s sons, Donald Trump Jr. and Eric Trump, and his The daughter of Ivanka Trump is also named as a defendant in the lawsuit. Then there’s the Trump Organization, a family-owned business that manages hotels, golf courses and other real estate around the United States. The worldAt question is how the company prepares Trump’s annual financial statement for the decade ending in 2021. James said Trump inflated his net worth by billions. This is the art of stealing. In a controversial three-year investigation, James said her office found more than 200 instances of misleading asset valuations of nearly two dozen assets. In one case, she said the former president tried to get him to work in special The apartments in the Trump Tower appear to be almost three times their actual size. “The tripling of the size of the apartments for valuation purposes was intentional and deliberate: fraud. Not an honest mistake. James also said Trump valued his Mar-a-Lago estate in Florida at as much as $739 million by pretending it could be developed for residential use knowing there were restrictions. The value should be closer to $75 million. “No one is above the law. James also wants Trump and his children to be permanently banned from running any company in New York…Trump and his organization are banned from real estate transactions for five years. In a social media post, the former Republican president Calling the lawsuit “another witch “Hunter” and launching a personal attack on James, a Democrat. Trump is considering running for president again in 2024. He is at the center of several investigations, including a court-sanctioned search of his Mar-a-Lago estate over the handling of records, and a Georgia investigation into overturning the 2020 election. He also denied wrongdoing. The lawsuit is civil, which means it does not involve criminal charges. However, James said she would refer the charges of criminal wrongdoing to federal prosecutors and the IRS.