New York Attorney General Announces Civil Lawsuit Against Trump and His Family | donald trump

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The New York State Attorney General has filed a civil lawsuit against Donald Trump and his family members, the culmination of a multi-year investigation financial practices of the Trump Organization.

Letitia James announced the costume in New York Wednesday in a move that is sure to increase the dismay of the former US president, his family and those around him over the difficult legal situation he finds himself in.

Announcing the trial to reporters in New York, James said: “The complaint demonstrates that donald trump falsely inflated his net worth by billions of dollars to unfairly enrich himself and deceive the system, thus deceiving us all. He did this with the help of the other defendants.

The New York lawsuit represents an escalation of the grave legal danger that Trump already faces on many fronts, including a possible indictment for his retention of classified records after his tenure in power and multiple investigations into his attempts to reverse his defeat in the 2020 elections.

A statement said James’ lawsuit was filed “against Donald Trump, the Trump Organization, senior management and the entities involved for engaging in years of financial fraud to obtain a multitude of economic benefits.”

“The lawsuit alleges that Donald Trump, with the help of his children Donald Trump Jr.Ivanka Trump and Eric Trump, and senior Trump Organization executives, falsely inflated his net worth by billions of dollars to trick banks into lending money to the Trump Organization on more favorable terms than would have otherwise offered to the company, to satisfy maintenance of loan covenants, induce insurers to provide insurance coverage for higher limits and lower premiums, and to receive tax benefits, among others.

Trump, Donald Trump Jr, Ivanka Trump and Eric Trump were all fallen during the state investigation.

Former Trump Organization chief financial officer Allen Weisselberg and Trump Organization comptroller Jeffrey McConney were also named by James on Wednesday. In another criminal investigation, in New York, Weisselberg, 75, pleaded guilty to tax evasion.

James alleged that the defendants in his investigation made more than 200 false and misleading asset valuations in financial statements between 2011 and 2021.

Trump properties involved in the New York civil lawsuit include Mar-a-Lago in Florida (which the lawsuit says Trump valued at up to $739 million when it should have been closer to $75 million) and a number of golf courses.

Regarding the Trump Tower, on Fifth Avenue in Manhattan, James said: “Mr. Trump said his apartment was over 30,000 square feet, which was the basis for the apartment’s valuation.

In reality, the apartment was less than 11,000 square feet, which Mr. Trump was well aware of. And based on this inflated area, the value of the apartment in 2015 and 2016 was $327 million.

“To date, no apartment in New York has ever sold for a price close to this amount.

“The tripling of the size of the apartment for assessment purposes was intentional and deliberate fraud. Not an honest mistake.

James also said investigators believe “the conduct alleged in this action also violates federal criminal law, including misrepresentation to financial institutions and bank fraud.”

She said, “We are referring these criminal violations we have discovered to the United States Attorney for the Southern District of New York and the Internal Revenue Service.”

Ahead of James’ announcement, Bloomberg News reported that “members of Trump’s inner circle” expected the lawsuit, with one calling it “a fundraising opportunity for James, a Democrat facing re-election in November.”

Trump has consistently accused James of being politically motivated. He also claimed that the attorney general, who is black, is racist.

James detailed the relief she is looking for. The measures include “again asking the court to permanently ban Mr. Trump, Donald Trump Jr, Eric Trump and Ivanka Trump to serve as an officer or director and any corporation or similar business entity registered or licensed in the State of New York”.

James also seeks to bar “Trump and his organization from making any commercial real estate acquisitions in New York State for five years. We prohibit Mr. Trump and the Trump Organization from applying for loans from any financial institution registered with the New York Department of Financial Services for five years.

“We call on Mr. Trump and the Trump Organization to return the financial benefits obtained through the persistent fraudulent practices, an estimated base of at least $250 million, and to appoint an independent monitor at the Trump Organization to oversee assessment compliance. and financial reporting disclosures. to lenders, insurers and tax authorities for at least five years.

In summary, James said: “I want to be clear. White collar financial crime is not a victimless crime.

She added: “Pretending you have money that you don’t is not the art of the deal. It’s the art of theft… No one is above the law.

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