New York Attorney General Letitia James Sues Donald Trump for Fraud

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New York Attorney General After Years of Investigating Trump Organization Business Practices Letitia James Former President Donald Trump, his three eldest sons, sued the Trump Organization for fraud.

The civil lawsuit, filed in Manhattan’s Supreme Court on Wednesday, playing cards Will pay a $250 million fine, bar the family from doing business in New York in the future, and bar the former president and the Trump Organization from purchasing commercial property in New York for five years. The office said it has filed criminal charges with US prosecutors in Manhattan and the IRS.

“For too long, the powerful and wealthy in this country have acted as if the rules didn’t apply to them. It stands out,” James said. statement.

The lawsuit has the former president named in his children and filings to convince banks to lend money to the Trump Organization on more favorable terms and other financial and profitable gains. He claims to have inflated his net worth by billions of dollars with the help of some executives. Tax incentives.

“With the help of the children and senior executives of the Trump Organization, Donald Trump unfairly built his wealth by inflating his net worth by billions and cheated the system,” James said. The value is rooted in incredible fraud and illegality. Trump thought he could get away with the art of stealing, but today the act is over,” she added.

The lawsuit is the result of a three-year investigation into the Trump Organization and its executives. According to James’ office, the Trumps used “fraudulent or misleading asset valuations” to secure loans, insurance coverage and tax deductions, and everyone involved in the lawsuit (including Trump’s children). was “directly involved in one or more transactions”

Trump denied wrongdoing and said the James investigation was a politically motivated “witch hunt” by a “racist” Attorney General.according to ABC NewsJames, who is black, rejected a settlement offer from the Trump organization to settle the dispute last month.

https://www.essence.com/news/ny-attorney-gen-letitia-james-sues-trump/ New York Attorney General Letitia James Sues Donald Trump for Fraud

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