Donald Trump and three of his children were officially accused of committing fraud in a lawsuit brought by the office of New York’s attorney general, Letitia James, on Wednesday
’s office, which sued them on Wednesday. Ivanka, Eric, and Donald Trump Jr. were named as defendants alongside their father, the Trump Organization, and two company executives — all of whom are accused of lying to insurers and banks about the value of properties over a decade in order to reap a fortune.
“This investigation revealed that Donald Trump engaged in years of illegal conduct to inflate his net worth, to deceive banks and the people of the great state of New York,” James said at a press conference unveiling the lawsuit. “Claiming you have money that you do not have does not amount to the art of the deal. It’s the art of the steal.”
The lawsuit alleges that misrepresentations in various financial statements were approved at the “highest levels of the Trump Organization,” including “by Mr. Trump himself.” Eric and Donald Jr. allegedly signed off on some statements, while Ivanka is also accused of inflating the value of her Trump penthouse on Park Avenue by around $12 million.
The lawsuit seeks $250 million in damages and a permanent bar against Trump and his children from running businesses in New York, among other penalties. An attorney for Trump said in a statement that James’s office “has exceeded its statutory authority by prying into transactions where absolutely no wrongdoing has taken place.
Although James said her office lacks the authority to file criminal charges in the case, she made a criminal referral to federal prosecutors in Manhattan saying Trump and the other defendants had “plausibly” violated federal laws regarding bank fraud and making false statements to a bank. (It is unclear if federal investigators have pursued this line of inquiry; the former U.S.
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