New York Attorney General Letitia James has filed a lawsuit against former president Donald Trump, three of his adult children, and officials at his business, alleging that they engaged in fraudulent financial activities for over a decade. According to the National Review, Trump and his associates are accused of changing property appraisals to deceive lenders, insurance agents, and tax authorities to get higher interest rates on bank loans and insurance policies and to lower their tax obligations. They are charged with producing more than 200 false analyses of the business’s financial position.
James contends that Trump lied about the size of his apartment in financial papers, increasing the property’s size from 11,000 square feet to 30,000 square feet. She also claims that Trump inflated the amount of “anticipated income” from golf club dues and included money in the control of Vornado Partnership Interests as his own, despite having no access to the assets.
The complaint seeks $250 million in alleged illicit earnings and a five-year ban on all real estate transactions for Trump and his three adult children. Additionally, it asks for a lifetime restriction on Trump and his three kids holding leadership positions in any organization or company with a license to operate in New York.
On Wednesday, James stated at a press conference, “The complaint demonstrates that Donald Trump falsely inflated his net worth by billions of dollars to unjustly enrich himself and to cheat the system, thereby cheating all of us.” She also noted that she would file a criminal referral to federal prosecutors in Manhattan and a tax fraud referral to the IRS. Trump’s attorney, Alina Habba, responded to the suit, saying, “Today’s filing is neither focused on the facts nor the law – rather, it is solely focused on advancing the Attorney General’s political agenda.”
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