NY Attorney General James Sues Donald Trump for Years of Alleged Financial Fraud

September 21 2022 MANHATTAN, New York – NY Attorney General has sued former president Trump, Don Jr, Ivanka Trump, Eric Trump and other executives, for years of alleged fraud. Leticia James is seeking $250M in penalties.

The lawsuit alleges that former president Donald Trump, with the help of his children Donald Trump, Jr., Ivanka Trump, and Eric Trump, and senior executives at the Trump Organization, falsely inflated his net worth by billions of dollars to induce banks to lend money to the Trump Organization on more favorable terms than would otherwise have been available to the company, to satisfy continuing loan covenants, to induce insurers to provide insurance coverage for higher limits and at lower premiums, and to gain tax benefits, among other things.

The lawsuit claims that from 2011-2021, Donald Trump and the Trump Organization knowingly and intentionally created more than 200 false and misleading valuations of assets on his annual Statements of Financial Condition to defraud financial institutions.

Lawsuit alleges that this conduct was in violation of New York Executive Law 63(12).

Attorney General is seeking to permanently bar Mr. Trump, Donald Trump, Jr., Ivanka Trump, and Eric Trump from serving as an officer or director in any New York corporation or similar business entity registered and/or licensed in New York state, bar Mr. Trump and the Trump Organization from entering into any New York real estate acquisitions for five years and award disgorgement of all financial benefits obtained through the persistent fraudulent practices, estimated to total $250 million.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

GIPHY App Key not set. Please check settings

Man Stabbed to Death After an Argument at Brooklyn Bodega

One Person Slashed another Shot at NYC Subway Stations in Two Separate Incidents Withing 1 Hour