New York AG Accuses Trump of Massive Fraud in New Lawsuit
The Trumps’ alleged fraud detailed in the suit spans decades, with many allegations related to the annual financial statements filed by Trump each year and used by his companies to secure enormous deals and loans.
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New York Attorney General Letitia James has filed a lawsuit on behalf of the State in Manhattan, accusing former president Donald Trump of misrepresenting his and his company’s net worth and misleading banks and others about the value of his real estate holdings and other business investments, the Associated Press reports. Two company executives and three of Trump’s children, Donald Jr., Ivanka, and Eric Trump, were also named as defendants in the suit.
The Trumps’ alleged fraud detailed in the suit spans decades, with many allegations related to the annual financial statements filed by Trump each year and used by his companies to secure enormous deals and loans. The suit alleges that Trump claimed his apartment in Trump Tower was three times larger than it is and valued it at $327 million, an astronomical claim and more than the sale-price of any previously sold apartment in New York City. The state has asked the court to ban Trump, his executives and children from running a company in New York, and requested a payment of fines of at least $250 million for the fraud.
