In the more than 200-page lawsuit, Attorney General Letitia James, a Democrat, alleges the fraud touched all aspects of the Trump business, including its properties and golf courses. According to the lawsuit, the Trump Organization deceived lenders, insurers and tax authorities by inflating the value of his properties using misleading appraisals.
“This conduct cannot be brushed aside and dismissed as some sort of good-faith mistake,” James said at a news conference in New York.
“The statements of financial condition were greatly exaggerated, grossly inflated, objectively false, and therefore fraudulent and illegal,” she added. “And as a result of that we are seeking relief, and Mr. Trump, the Trump Organization, his family – they should all be held accountable.”
“These acts of fraud and misrepresentation were similar in nature, were committed by upper management at the Trump Organization as part of a common endeavor for each annual Statement, and were approved at the highest levels of the Trump Organization – including by Mr. Trump himself,” the lawsuit states.
As part of the lawsuit, James is seeking $250 million in allegedly ill-gotten funds and to permanently bar Trump and the children named in the lawsuit from serving as the director of a business registered in New York state. She is also seeking to cancel the Trump Organization’s corporate certificate, which, if granted by a judge, could effectively force the company to cease operations in New York state.
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