New York Attorney General Letitia James has filed a lawsuit against former President Donald Trump and his company, the Trump Organization, alleging years of financial fraud.
The lawsuit claims that the defendants engaged in a pattern of financial misconduct over more than a decade. Specifically, the complaint asserts that Donald Trump inflated his net worth by billions of dollars. The Trump Organization is accused of fraud by misrepresenting the value of its assets.
The legal action further states that the Trump Organization utilized fraudulent appraisals to obtain loans and secure tax benefits. These alleged misstatements and fraudulent practices are detailed throughout the extensive lawsuit.
In addition to Donald Trump, the lawsuit names his children, Donald Trump Jr., Ivanka Trump, and Eric Trump, as defendants. The complaint highlights that Donald Trump personally guaranteed some of the allegedly fraudulent statements made by the company.
As a result of these allegations, Attorney General James is seeking $250 million in penalties. Moreover, the lawsuit requests that Trump and his children be barred from serving as officers or directors of companies operating in New York.
The attorney general’s office has been investigating the Trump Organization for the past three years. The lawsuit was officially filed in New York state court.
