The New York Attorney General’s Office has filed a lawsuit against former President Donald Trump and several of his family members, associates and businesses, alleging “numerous frauds and misrepresentations” regarding financial statements.
Attorney General Letitia James said at a news conference Wednesday morning after the complaint was filed in New York Supreme Court that Trump “inflated his net worth by billions of dollars” and that his children, Donald Jr., Ivanka and Eric, they helped him.
“Mr. Trump and the Trump Organization repeatedly and persistently manipulated the value of the assets to induce banks to lend money to the Trump Organization on more favorable terms than would otherwise have been available to the company,” James said, “for to pay lower taxes. satisfy ongoing loan agreements and induce insurance companies to provide insurance coverage for higher limits and lower premiums.”
James said that during her office’s investigation, they interviewed 65 witnesses and reviewed millions of documents. He said the evidence showed Trump submitted “more than 200 false and misleading property valuations.”
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The misrepresentations included stating that Trump had cash on hand that he didn’t have and ignoring restrictions that would affect property values, James said.
“Claiming to have money you don’t have is not the art of the deal, it’s the art of stealing,” James said, referring to the title of Trump’s 1987 book.
The attorney general said she believes the allegations also support state and federal criminal laws, and her office is making referrals to the U.S. attorney for the Southern District of New York and the IRS. The SDNY US Attorney’s Office declined to comment on the matter.
James said the investigation began only after Trump’s former lawyer Michael Cohen told Congress that Trump made false statements to financial institutions.
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New York State Attorney General Letitia James speaks at a news conference in New York on August 3, 2021. (AP Photo/Ted Shaffrey)
Trump’s lawyer, Alina Haba, disputed the allegations against the former president.
“Today’s filing focuses on neither the facts nor the law — rather, it focuses solely on advancing the Attorney General’s political agenda,” Hamba said in a statement. “It is abundantly clear that the Attorney General’s Office has exceeded its legal authority by investigating transactions where absolutely no wrongdoing has occurred. We are confident that our judicial system will not tolerate this unchecked abuse of power, and we look forward to defending our client against each of the Attorney General’s baseless claims.”
New York Attorney General Letitia James said Wednesday that during her office’s investigation, they interviewed 65 witnesses and reviewed millions of documents, and the evidence showed that former President Donald Trump submitted “more than 200 false and misleading property valuations.” elements”. (AP Photo/Evan Vucci, File)
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James said that through the lawsuit, her office is asking the New York Supreme Court to permanently bar Trump and his children from serving as officers of any New York corporation and to bar Trump and the Trump Organization from participating in acquisitions of commercial real estate in New York or apply for loans to the state for five years.
James said that as far as a possible settlement of the case is concerned, her office’s doors are open.
Marta Dhanis is a New York-based reporter and field producer focusing on criminal justice and the courts. Follow her on Twitter: @MartaDhanis
