New York prosecutor sued Donald Trump and his children for alleged fraud

New York prosecutor sued Donald Trump and his children for alleged fraud

Letitia James, attorney general, asked the New York state justice to prevent Donald Trump and his children from running companies in that jurisdiction. They demand compensation of 250 million dollars in fines for the alleged fraud and that they be prevented from buying and selling real estate in about five years

The attorney general of New York, Letitia James, sued the former president of the United States, Donald Trump, on Wednesday, September 21; his children Donald, Ivanka and Eric, as well as citizen Jeffrey McConney of the Trump Organization for being involved in an alleged fraud plot committed for years in order to enrich the former president.

According to James, this scheme has at least a decade where they “repeatedly and persistently” manipulated the evaluation of assets to get banks to lend money on more favorable terms and to be able to pay lower taxes. Similarly, he stressed that they sought to have loan agreements and obtain high coverage with low premiums to pay.

“We found that Trump, his family, and the Trump Organization used fraudulent and misleading asset valuations some 200 times over 10 years in their annual financial statements. Those statements were used to obtain hundreds of millions of dollars in loans and insurance coverage,” he explained.

In other words, he made misleading appraisals of his properties and obtained benefits. In his opinion, the Trump Organization was playing to inflate or minimize the value of assets as the case may be.

The lawsuit, some 200 pages long, alleges that this fraud extended to all of Trump’s properties, including his golf courses. “This conduct cannot be ignored and dismissed as some kind of bona fide mistake,” Prosecutor James added.

*Also read: NYT: Trump’s Ex-Lawyer Under Investigation for 2020 Elections

The New York Prosecutor’s Office, in addition to demanding that Trump pay some 250 million dollars in fines, prevent him or his children from holding managerial or administrative positions in any company in the state, as well as requesting a restriction of at least five years to prevent them from buying property in New York.

He also adds that the progress of the investigation, which took nearly three years, will be shared with the Department of Justice where it already has two open cases: for the case of the “assault on the Capitol” in January 2021 and for the documents stolen from his house in Florida by the FBI, arguing that they were official documents.

After knowing the accusation, the lawyer Alina Habba issued a statement in which she assures that only a “political agenda” of the Attorney General is promoted and assures that these statements are outside her functions.

“Today’s court document focuses neither on the facts nor on the law, but instead focuses solely on furthering the Attorney General’s political agenda. It is abundantly clear that the Attorney General’s Office has exceeded its statutory authority by meddling in transactions in which there has been absolutely no wrongdoing,” part of the text reads.

In AugustTrump went to the offices of the attorney general of New York, Letitia James, in Manhattan in order to testify under oath for an investigation that is being followed into his businesses and that has been going on for some time.

Donald Trump, in the hearing, invoked his protection of the Fifth Amendment of the Constitution of his country against self-incrimination, according to what he said an hour later in a statement. he claimed to have refused to answer “on the rights and privileges granted to all citizens under the Constitution of the United States.”

With information from CNN / Univision / The country / Swiss Info /

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