Donald Trump (Official White House photo) NEW YORK - New York's attorney general is suing former President Donald Trump and his company, accusing business fraud involving some of their most prized assets, including properties in Manhattan, Chicago and Washington, D.C.
The lawsuit, which follows a three-year civil investigation by Attorney General Letitia James, also names Donald Trump Jr., Ivanka Trump, and Eric Trump — the former president's eldest children — as well as two longtime executives for the Trump Organization, former CFO Allen Weisselberg and Jeffrey McConney."Donald Trump falsely inflated his net worth by billions of dollars to unjustly enrich himself, and cheat the system, thereby cheating all of us," James said at the news conference.Her office has investigated what she said were the company's fraudulent or misleading valuations for its properties on annual financial statements that were given to potential business partners, banks or tax officials.
The goal of the fraud was to burnish Trump's billionaire image and the value of his properties when doing so gave him an advantage, while playing down the value of assets at other times for tax purposes, the attorney general's office has said.Alina Habba, an attorney for Trump, said the lawsuit is "neither focused on the facts nor the law" but is about "advancing the Attorney General's political agenda.""It is abundantly clear that the Attorney General's Office has exceeded its statutory authority by prying into transactions where absolutely no wrongdoing has taken place," Habba said.