New York Attorney General Files Lawsuit Against Trump’s Real Estate Activities
New York Attorney General Letitia James has filed a 220-page civil lawsuit against former President Donald Trump, three of his children (Donald Jr., Eric and Ivanka) and their namesake real estate company for allegedly manipulating the value of company assets and deceive investors and lenders with false financial statements “to obtain favorable terms”. Between 2011 and 2021, the defendants made more than 200 fraudulent and misleading asset valuations in financial documents, according to James.
The complaint is the result of an acrimonious and lengthy civil investigation that James promised to launch when campaigning for his role as AG in 2018. Currently campaigning for re-election, James is trying to make the former president and his company a high price. His complaint calls for the Trumps to be removed as leaders of the Trump Organization and for a judge to appoint an impartial monitor to oversee the organization’s financial procedures. Additionally, James wants to ban the Trumps from buying property in New York for five years.
Trump and his legal team dodged James’ trial as another “witch hunt.” But James alleges the Trumps’ fake financial statements allowed the company to acquire $2 billion, which it now wants them to return. It should be noted that none of the financial institutions involved in any of these transactions have ever claimed to have been harmed by the alleged wrongdoings of the Trump Organization. If James gets his way, Trump and his children could be banned in perpetuity from holding executive or management positions at a New York-based company.