The New York Prosecutor’s Office sued this Wednesday the former president of the United States, donald trumphis three oldest children and his company, the Trump Organization, for fraudulently obtaining loans and insurance benefits and paying lower taxes.
The attorney general of New York, Letitia James, said that Trump committed “tax fraud” for years and that the state is asking for compensation of 250 million dollars (an equivalent figure in euros, at current exchange rates), a veto on the businesses of the Trumps and a restriction on their purchase of commercial real estate in the next five years.
“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 said.
The prosecutor detailed in a press release that Trump was helped by his children Donald Jr., Eric, Ivanka and senior executives of his company to “illegally inflate and deflate his net worth by billions” of dollars in order to enrich himself and lying to the system
The family business of the former president allegedly induced banks to lend him money under more favorable conditions than he would have achieved, and insurers to give him greater coverage for lower fees, in addition to obtaining tax advantages, according to the note. .
The accusations, which James took to the state Supreme Court, are the result of an extensive civil investigation that has lasted three years, with a legal battle in which Trump has tried to hinder and delay the requirements for declaration or delivery of documents. .
At the beginning of August, he appeared before the prosecutor to testify in this matter by order of a judge but he availed himself of the Fifth Amendment of the Constitution, which allows an investigated person to remain silent to avoid incriminating himself.
Apart from filing the lawsuit, the prosecutor has recommended opening criminal proceedings to the Department of Justice and the federal tax collection service, which seems to cast a shadow over the prospects of a political comeback for Trump, who could aspire to a new presidential candidacy in 2024.