The New York Prosecutor’s Office sued the former president of the United States on Wednesday donald trumphis three eldest children -Donald, Eric and Ivanka- and his company, the Trump Organization, for fraudulently obtaining loans, insurance benefits and pay lower taxes.
The prosecutor, Letitia James, said Trump committed “tax fraud” for years and the state is seeking a $250 million compensationa veto on Trump businesses and a restriction on their purchase of commercial real estate in the next five years, he indicated on his Twitter.
“We find that Trump, his family and the Trump Organization used fraudulent and misleading asset valuations about 200 times for 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.
Today, I filed a lawsuit against Donald Trump for engaging in years of financial fraud to enrich himself, his family, and the Trump Organization.
There aren’t two sets of laws for people in this nation: former presidents must be held to the same standards as everyday Americans.
— NY AG James (@NewYorkStateAG) September 21, 2022
James believes that Trump and the rest of the defendants may have violated state and criminal lawswith which he has referred the case to the US Attorney’s Office for the Southern District of New York and the Tax Service, according to the CNN television network.
The origin of the claim goes back to March 2019as former Trump Organization lawyer Michael Cohen’s statement to the US Congress raised questions about the company’s “potentially fraudulent financial statement.”
Trump, for his part, has repeatedly criticized the investigation, which he considers to be a “crusade” against himand has even referred to James as a “rogue prosecutor” handling a “vindictive and self-serving” case.