New York Attorney General Letitia James made good on her promise to use the state’s power to go after President Donald Trump.
James announced a $250 million lawsuit against Trump and his family for alleged fraud in their real estate business:
The 220-page suit filed in in Manhattan Supreme Court is the culmination of a three year investigation by the Democrat’s office to determine whether the Trump Org.’s assets were exaggerated for loan, insurance and tax purposes.“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 a news conference announcing the suit,“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,” she said, referring to Trump’s 1987 book.
The three-year investigation supposedly found that “Trump and his companies named as Defendants, engaged in numerous acts of fraud and misrepresentation in the preparation of Mr. Trump’s annual statements of financial condition (“Statements of Financial Condition” or “Statements”) covering at least the years 2011 through 2021.”
“These acts of fraud and misrepresentation grossly inflated Mr. Trump’s personal net worth as reported in the Statements by billions of dollars and conveyed false and misleading impressions to financial counterparties about how the Statements were prepared,” James wrote. “Mr. Trump and the Trump Organization used these false and misleading Statements repeatedly and persistently to induce banks to lend money to the Trump Organization on more favorable terms than would otherwise have been available to the company, to satisfy continuing loan covenants, and to induce insurers to provide insurance coverage for higher limits and at lower premiums.”
James said she wants “the New York Supreme Court permanently bar Trump and his children from serving as officers for any New York corporation, and bar Trump and the Trump Organization from participating in New York commercial real estate acquisitions or applying for loans in the state for five years.”
Trump’s lawyer Alina Habba said it’s all about an agenda:
“Today’s filing is neither focused on the facts nor the law – rather, it is solely focused on advancing the Attorney General’s political agenda,” Habba said in a statement. “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. We are confident that our judicial system will not stand for this unchecked abuse of authority, and we look forward to defending our client against each and every one of the Attorney General’s meritless claims.”
Of course it is.
All of the 2018 New York attorney general candidates promised to hunt Trump if they won the election.
James won. She immediately promised to stick to her pledge:
New York Attorney Gen.-elect Letitia James says she plans to launch sweeping investigations into President Donald Trump, his family and “anyone” in his circle who may have violated the law once she settles into her new job next month.“We will use every area of the law to investigate President Trump and his business transactions and that of his family as well,” James, a Democrat, told NBC News in her first extensive interview since she was elected last month.
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