New York’s attorney general sued former US President Donald Trump and his company on Wednesday, alleging business fraud involving some of his most prized assets, including properties in Manhattan, Chicago and Washington, DC.
Attorney General Letitia James’ lawsuit, filed in New York state court, is the culmination of the Democrat’s three-year civil investigation into Trump and the Trump Organization. Trump’s three eldest children, Donald Jr., Ivanka and Eric Trump, were also named as defendants, along with two longtime company executives, Allen Weisselberg and Jeffrey McConney.
The lawsuit seeks to strike at the core of what made Trump famous, casting a black light on the image of wealth and opulence he has embraced throughout his career, first as a real estate developer, then as a reality TV host on The Apprentice and Celebrity Apprentice. and later as president.
James, a Democrat, announced details of the lawsuit at a news conference Wednesday. The case was filed in court Wednesday morning.
Trump ‘falsely inflated his net worth by billions’
“Donald Trump falsely inflated his net worth by billions of dollars to unjustly enrich himself and cheat the system, thereby deceiving us all,” James said at the news conference.
James’ office has spent more than three years investigating fraudulent or misleading valuations of his properties in annual financial statements that were given to potential business partners, banks or tax officials.
The goal, the attorney general’s office said, was to bolster Trump’s billionaire image, and the value of his properties in doing so gave him an advantage, while at other times he minimized the value of assets for tax purposes.
“Today’s filing is not focused on the facts or the law, it is focused only on advancing the attorney general’s political agenda,” said Alina Habba, a lawyer for Trump. “It is very clear that the Attorney General’s Office has exceeded its statutory authority by investigating transactions where no crime has occurred. We are confident that our judicial system will not tolerate this unchecked abuse of authority, and we look forward to defending it. our client against each and every one of the attorney general’s meritless claims.”