AG Letitia James’ lawsuit, filed in state court docket in New York, is the end result of the Democrat’s three-year civil investigation of Trump and the Trump Group
New York’s legal professional basic sued former President Donald Trump and his firm on Wednesday, alleging enterprise fraud involving a few of their most prized property, together with properties in Manhattan, Chicago and Washington, D.C.
Legal professional Common Letitia James’ lawsuit, filed in state court docket in New York, is the end result of the Democrat’s three-year civil investigation of Trump and the Trump Group. Trump’s three eldest kids, Donald Jr., Ivanka and Eric Trump, have been additionally named as defendants, together with two longtime firm executives, Allen Weisselberg and Jeffrey McConney.
The lawsuit seeks to strike on the core of what made Trump well-known, taking a blacklight to the picture of wealth and opulence he’s embraced all through his profession — first as an actual property developer, then as a actuality TV host on The Apprentice and Superstar Apprentice, and later as president.
James, a Democrat, introduced particulars of the lawsuit at a information convention on Wednesday. The case confirmed up on a court docket docket Wednesday morning.
“Donald Trump falsely inflated his internet price by billions of dollars to unjustly enrich himself, and cheat the system, thereby dishonest all of us,” James mentioned on the information convention.
James’ workplace has spent greater than three years investigating fraudulent or deceptive valuations for its properties on annual monetary statements that got to potential enterprise companions, banks or tax officers.
The purpose, the legal professional basic’s workplace has mentioned, was to burnish Trump’s billionaire picture and the worth of his properties when doing so gave him a bonus, whereas enjoying down the worth of property at different occasions for tax functions.
“Right this moment’s submitting is neither targeted on the details nor the legislation — somewhat, it's solely targeted on advancing the Legal professional Common’s political agenda. It's abundantly clear that the Legal professional Common’s Workplace has exceeded its statutory authority by prying into transactions the place completely no wrongdoing has taken place. We're assured that our judicial system won't stand for this unchecked abuse of authority, and we look ahead to defending our shopper towards every one of many Legal professional Common’s meritless claims,” mentioned Alina Habba, an legal professional for Trump.