U.S., New York prosecutors sue Trump and his sons
aNew York Attorney General Letitia James has filed a civil lawsuit in Manhattan District Court, …
accusing the Trump Organization of “numerous acts of fraud and misrepresentation” in the preparation of financial statements from 2011 to 2021. According to James, the former US president allegedly inflated his wealth by billions of dollars to help his company obtain favorable financial terms on transactions, including lower interest rates and cheaper insurance coverage. The more than two hundred-page complaint also names Trump’s adult children, Donald Jr, Eric and Ivanka.
According to AAA, the Trump Organization operates hotels, golf courses and other real estate around the world and has been under investigation by James for more than three years. The prosecutor, said the value of 23 assets was “fraudulently inflated” and that her office uncovered more than 200 examples of misleading valuations. These assets include properties such as Mar-a-Lago in Florida and Trump’s penthouse atop Trump Tower in Manhattan. The suit seeks to recover at least $250 million in alleged improper gains.
This allegation is one of the biggest legal blows to Trump, who is considering a run for reelection in the 2024 U.S. presidential election.