NY Attorney General is suing Trump and his 3 adult children due to business fraud.
https://www.bloomberg.com/news/artic...torney-general
Donald Trump was sued for allegedly using fraudulent asset valuations at his real estate company, the culmination of a years-long probe by the New York attorney general into dealings by the former president and his family.
Attorney General Letitia James filed suit Wednesday in New York state court. In addition to Trump, the suit names the Trump Organization and three of the former president’s adult children -- Donald Trump Jr., Ivanka Trump and Eric Trump -- who are senior executives at the company.
The defendants “engaged in numerous acts of fraud and misrepresentation in the preparation of Mr. Trump’s annual statements of financial condition,” according to the complaint. The acts of fraud “were approved at the highest levels of the Trump Organization—including by Mr. Trump himself.” The suit was filed shortly before James began a press conference on Wednesday.
James said her suit is seeking around $250 million in disgorgement from the defendants. She is also asking that the Trump Organization be barred from engaging in any commercial real estate acquisitions in New York for five years and Trump and his children be prohibited from serving as officers or directors in any corporation in the state. She is further seeking the appointment of an independent monitor to oversee compliance, financial reporting and valuations at the Trump Organization as well as disclosures to lenders, insurers and tax authorities for at least five years.
Though her case is civil, James said she believed her investigation had uncovered federal criminal liability and had referred the matter to the Manhattan US attorney’s office.
https://www.bloomberg.com/news/artic...torney-general
Donald Trump was sued for allegedly using fraudulent asset valuations at his real estate company, the culmination of a years-long probe by the New York attorney general into dealings by the former president and his family.
Attorney General Letitia James filed suit Wednesday in New York state court. In addition to Trump, the suit names the Trump Organization and three of the former president’s adult children -- Donald Trump Jr., Ivanka Trump and Eric Trump -- who are senior executives at the company.
The defendants “engaged in numerous acts of fraud and misrepresentation in the preparation of Mr. Trump’s annual statements of financial condition,” according to the complaint. The acts of fraud “were approved at the highest levels of the Trump Organization—including by Mr. Trump himself.” The suit was filed shortly before James began a press conference on Wednesday.
James said her suit is seeking around $250 million in disgorgement from the defendants. She is also asking that the Trump Organization be barred from engaging in any commercial real estate acquisitions in New York for five years and Trump and his children be prohibited from serving as officers or directors in any corporation in the state. She is further seeking the appointment of an independent monitor to oversee compliance, financial reporting and valuations at the Trump Organization as well as disclosures to lenders, insurers and tax authorities for at least five years.
Though her case is civil, James said she believed her investigation had uncovered federal criminal liability and had referred the matter to the Manhattan US attorney’s office.
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