NY attorney general sues Donald Trump, family and company

by Sara Floyd Hello

Former President Donald Trump and his company New York’s attorney general is suing, by accusing business fraud involving some of their most prized assets, including properties in Manhattan, Chicago and Washington, D.C.

The former president’s eldest children as well as two long time executives for the Trump Organization, former CFO Allen Weisselberg and Jeffrey McConney, by Attorney General Letitia James the lawsuit, which follows a three-year civil investigation, also names Donald Trump Jr., Ivanka Trump, and Eric Trump.

“To unjustly enrich himself his net worth by billions of dollars Donald Trump falsely inflated, and thereby cheating all of us, cheated the system”, at the news conference James said.

On annual financial statements that were given to potential business partners, banks or tax officials she said her office has investigated what were the company’s fraudulent or misleading valuations for its properties.

The attorney general’s office has said the goal of the fraud was to burnish Trump’s billionaire image and the value of his properties when doing so gave him an advantage, for tax purposes while playing down the value of assets at other times.

James said “Of false we uncovered more than 200 examples and misleading asset valuations that were used on his statements”, All told.

“By Mr. Trump the pattern of fraud and deception that was used at the Trump Organization for their own financial benefit is astounding, inflating the values of assets by whatever means necessary to increase Mr Trump’s purported net worth.

To further enhance his financial standing, intentionally misrepresent his financial status to obtain incredible economic benefit and then that net worth was used.”

On his Truth Social platform Trump called the lawsuit “Another Witch Hunt”, in a post. On a ‘get Trump’ platform” he also denounced James as “a fraud who campaigned and said she filed the lawsuit because of “her really bad poll numbers.” (for re-election James is running; in early August she had a double-digit lead over her GOP challenger in a poll released.)

The lawsuit is “neither focused on the facts nor the law” but it is about “advancing the Attorney General’s political agenda”, Alina Habba, an attorney for Trump, said.

Habba said “Abundantly it is clear that the Attorney General’s Office has exceeded its statutory authority where absolutely no wrongdoing has taken place by prying into transactions”.

“For this unchecked abuse of authority we are confident that our judicial system will not stand, and we look forward to each and every one of the Attorney General’s meritless claims to defend our client.”

James is seeking to remove the Trumps from businesses engaged and wants an independent monitor appointed for no less than five years to oversee the Trump Organization’s compliance, insurers and tax authorities, financial reporting, valuations and disclosures to lenders.

To replace the current trustees of Trump’s revocable trust she is seeking, which controls his business interests, with independent trustees, to bar Trump and the Trump Organization from entering for five years into commercial real estate acquisitions, from serving as an officer or director in any New York corporation or similar business entity registered and/or licensed in New York State, permanently bar Trump and three of his adult children and from obtaining loans from banks in New York for five years.

“In years of illegal conduct, James said that this investigation revealed that to inflate his net worth Donald Trump engaged to deceive banks and the people of the great state of New York”.

“It’s the art of stealing. Claiming you have money that you do not have does not amount to the art of the deal. And there cannot be different rules in this country or in the state for different people. And former presidents are no different.”

A senior Trump Organization adviser and the former CFO, Weisselberg, In August, pleaded guilty to state tax-evasion charges in connection with accepting a free apartment and other benefits from the company.

He agreed to testify at a criminal trial against the Trump Organization before serving a five-month jail sentence, in a plea deal with the Manhattan District Attorney’s Office.

The DA’s office has been conducting a criminal probe into Trump and his company in parallel to the attorney general’s civil investigation, for several years.

In January, he raised questions internally with his staff about the viability of a criminal case against the former president when Alvin Bragg Jr. became district attorney. Bragg said the investigation was moving forward, however, after some public backlash.

“The Trump Organization, and its leadership is active and ongoing, Our criminal investigation concerning former President Donald J. Trump,”, Bragg said in a statement released Wednesday.

Source:- Latest Article