New York Attorney General's Lawsuit Against Former President Trump
New York’s attorney general is seeking to bar former President Donald Trump, his children, and certain associates from doing business in the Empire State, and $250 million in restitution over allegations of fraud related to his business dealings over a decade.
“I’m announcing today that we are filing a lawsuit against Donald Trump for violating the law as part of his efforts to generate profits for himself, his family, and his company,” said State Attorney General Letitia James, a Democrat.
The lawsuit claims that Trump and his family repeatedly misrepresented the value of their assets, ranging from business to property, to secure funds from financial institutions, and further inflate their net worth.
The investigation, James said, found more than 200 recorded instances in which Trump, his children, and two close associates inflated the value of those assets between 2011 and 2021.
“Everyday people can not lie to their bank in order to get a favorable loan to buy a home,” James said. “And if they did, the government would throw the book at them. Why should it be any different?”
The lawsuit was filed in state court Wednesday, and referred additional criminal allegations to federal prosecutors, James said. Wednesday’s announcement did not include any criminal charges based on state law.
“We believe the conduct alleged in this action also violates federal criminal law, including issuing false statements to financial institutions, and bank fraud,” James said.
The lawsuit does not seek to dissolve the former president’s business assets, but would permanently bar him and his three eldest children from serving as an officer or director at any business in New York.
Trump and the Trump Organization would also be barred from entering into any real estate transactions in New York for the next five years.
A spokesperson for the Trump Organization labeled the attorney general’s investigation and consequent lawsuit as “unethical political harassment” in a statement Wednesday.
"Today’s filing represents the culmination of nearly three years of persistent, targeted, unethical political harassment by the New York State Attorney General, Letitia James,” the spokesperson said. “As we all know, today’s filing has nothing to do with the facts or the law. Instead, it is about politics, pure and simple.”
Read the full lawsuit:
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