New York Attorney General Letitia James has brought a $250 million fraud lawsuit against former president Donald Trump, his three oldest children, and The Trump Organization. The suit alleges more than 200 instances of fraud over ten years.
NY AG brings $250 million fraud lawsuit against Trump
After years of a civil investigation into the Trump Organization’s business practice, the 220-page lawsuit filed by the NY AG alleges there have been more than 200 instances of fraud over the course of a decade, NBC reported.
The lawsuit is seeking $250 million in penalties, as well as barring the Trump family from being in the office of any New York-based company for five years. James also wants to prohibit them from receiving loans from any New York registered financial institution for five years.
“For too long, powerful, wealthy people in this country have operated as if the rules do not apply to them,” AG Letitia James said in a statement. “Donald Trump stands out as among the most egregious examples of this misconduct.”
“With the help of his children and senior executives at the Trump Organization, Donald Trump falsely inflated his net worth by billions of dollars to unjustly enrich himself and cheat the system,” she added.
In previous court filings, James has stated her office has “uncovered substantial evidence establishing numerous misrepresentations” in the Trump organization’s financial statements to banks, insurers, and the IRS.
Response from Trump team
An attorney for The Trump Organization called the lawsuit by New York’s Attorney General the product of a “political agenda” and said she is looking “forward to defending our client” against the claims, Politico reported.
“Today’s filing is neither focused on the facts nor the law — rather, it is solely focused on advancing the Attorney General’s political agenda,” said Alina Habba, a Trump attorney who has represented the former president in New York-based Trump Organization litigation. “It is abundantly clear that the Attorney General’s Office has exceeded its statutory authority by prying into transactions where absolutely no wrongdoing has taken place.”
“We are confident that our judicial system will not stand for this unchecked abuse of authority, and we look forward to defending our client against each and every one of the Attorney General’s meritless claims,” Trump’s attorney added.
