Donald Trump, his 3 children sued by New York AG for business fraud

NEW YORK — New York Attorney General Letitia James filed a lawsuit Wednesday accusing former President Donald Trump, his three grown children and executives at his company for giving lenders, insurance brokers and tax officials better rates on bank property valuations. was accused of molestation. To reduce loan and insurance policies and their tax liability.

The suit asks the Supreme Court of New York to restrain Trump, as well as Donald Trump Jr., Ivanka Trump and Eric Trump from serving as officers in any company in New York, and the Trump Organization from acquiring any commercial real estate. . Obtaining a loan for five years from a financial institution registered in New York.

It wants to recover more than $250 million in wrongful gains obtained through alleged deceptive practices, James’ office says. While the lawsuit itself is not a criminal trial, James (D) said he referred potential violations of federal law to the Justice Department and the IRS.

The extensive lawsuit is the result of more than two years of investigation by James and names 23 properties in the Trump Organization portfolio, including his Mar-a-Lago club in Florida, his Seven Springs estate in Westchester County, NY. The DC Hotel which it had taken on lease from the government till it was sold in May.

It adds to a deep list of legal challenges that Trump faced more than 18 months after leaving the White House and at a time when he remained actively involved in Republican politics and broadly suggested that he may be in 2024. Will run for president again.

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Status of major investigation related to Donald Trump

In addition to personally naming Trump and his three children, the suit names the Trump Organization and Alan Weiselberg, Trump’s longtime chief financial officer, who recently pleaded guilty to tax offenses and comptroller. Jeffrey McConkey.

Trump and his lawyers have dismissed James’ investigation as politically motivated and have repeatedly said that Trump and his family have not done anything illegal in the conduct of their business. Referring to statements made by James on the campaign trail in which he promised to investigate him, Trump described his investigation as a “witch hunt.”

This is a developing story. It will be updated.

O’Connell reported from Washington.

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