New York Attorney General Files Fraud Lawsuit Against Donald Trump, His Children And Trump Organization

deadline.com:

New York Attorney General Letitia James filed a fraud lawsuit against former President Donald Trump, two of his children and his businesses, claiming that he falsely inflated the value of his net worth to secure more favorable loan and insurance terms.The lawsuit follows an investigation that stretched more than three years into the Trump Organization finances, as his former attorney Michael Cohen alleged that he routinely inflated the value of his assets.“These acts of fraud and misrepresentation grossly inflated Mr.

Trump’s personal net worth as reported in the Statements by billions of dollars and conveyed false and misleading impressions to financial counterparties about how the Statements were prepared,” the suit stated. “Mr.

Trump and the Trump Organization used these false and misleading Statements repeatedly and persistently to induce banks to lend money to the Trump Organization on more favorable terms than would otherwise have been available to the company, to satisfy continuing loan covenants, and to induce insurers to provide insurance coverage for higher limits and at lower premiums.”The lawsuit — read it here — was filed shortly before James announced the civil fraud allegations at a press conference, carried on CNN, MSNBC and Fox News.James also referred potential criminal charges to federal prosecutors in Manhattan and to the Internal Revenue Service.At the press conference, James said that she is seeking to bar Trump, Ivanka Trump and Eric Trump from operating a business in the state.She said that the Trump Organization statements of financial condition filed from 2011 to 2021 was personally certified as accurate by Trump or one of his trustees.Also named in the lawsuit was Allen Weisselberg, Trump’s