NY State AG sues Trump and His Children for Fraud

https://www.reuters.com/legal/trump-sued-by-new-york-attorney-general-fraud-2022-09-21/

New York Attorney General Letitia James on Wednesday sued former President Donald Trump, the Trump Organization, three of his adult children and others for allegedly widespread fraud involving years’ worth of false financial statements related to the company’s business.

The 220-page civil lawsuit filed in Manhattan Supreme Court seeks at least $250 million in damages.

It also seeks to permanently bar Trump, Donald Trump Jr., Eric Trump and Ivanka Trump from serving as an officer of a company in New York, and permanently prohibit the Trump companies named in the suit from doing business in New York state.

James said she has asked federal prosecutors in Manhattan and the IRS to investigate Trump for possible federal crimes. She said that evidence obtained during her three-year civil probe of Trump indicated possible crimes of bank fraud and making false statements to financial institutions.

James said Trump massively overstated the values of his assets in statements to banks, insurance companies and the IRS to obtain more favorable loan and insurance terms for his company, as well as to lower its tax obligations.

“Trump falsely inflated his net worth by billions of dollars,” James said at a news conference, where she announced she will seek to bar Trump and his company from acquiring any New York real estate for five years, and bar them from applying for loans from banks charted in the state for the same period of time.




yahooyahoo said:

https://www.reuters.com/legal/trump-sued-by-new-york-attorney-general-fraud-2022-09-21/

New York Attorney General Letitia James on Wednesday sued former President Donald Trump, the Trump Organization, three of his adult children and others for allegedly widespread fraud involving years’ worth of false financial statements related to the company’s business.

The 220-page civil lawsuit filed in Manhattan Supreme Court seeks at least $250 million in damages.

It also seeks to permanently bar Trump, Donald Trump Jr., Eric Trump and Ivanka Trump from serving as an officer of a company in New York, and permanently prohibit the Trump companies named in the suit from doing business in New York state.

James said she has asked federal prosecutors in Manhattan and the IRS to investigate Trump for possible federal crimes. She said that evidence obtained during her three-year civil probe of Trump indicated possible crimes of bank fraud and making false statements to financial institutions.

James said Trump massively overstated the values of his assets in statements to banks, insurance companies and the IRS to obtain more favorable loan and insurance terms for his company, as well as to lower its tax obligations.

“Trump falsely inflated his net worth by billions of dollars,” James said at a news conference, where she announced she will seek to bar Trump and his company from acquiring any New York real estate for five years, and bar them from applying for loans from banks charted in the state for the same period of time.



These seeds were planted during Michael Cohen’s testimony before the House Oversight Committee in 2019. I remember AOC asking some very pointed questions about Trump property valuations and who would have more information. The other shoe just dropped. 



Sounds like Trump's kind of case.  Very complicated with options for many appeals and, all the while, Trump bleating about a witch hunt.

Nevertheless, assuming the case has merit, the NY AG is right to bring the case. 


Forbes has just torn Trump a new a-hole.

https://www.forbes.com/sites/danalexander/2022/09/21/exclusive-recording-documents-bolster-trump-fraud-lawsuit/?sh=1398d67c52ca

For decades, Trump and his lieutenants lied to Forbes about his finances, as we have duly noted over the years in the annual Forbes 400 issue listing the richest Americans. In the 1982 inaugural edition, the real estate scion appeared alongside his father with a combined estimated net worth of $200 million—and even then insisted on a higher valuation: “Donald claims $500 million,” we noted. By 2000, the boasts were bolder: “In The Donald’s world, worth more than $5 billion—back on Earth, worth considerably less.” When he was running for office, we explained how his net-worth obsession “opens windows into Trump the entrepreneur, the candidate and the person.” Two Forbes journalists received subpoenas last year from the Manhattan district attorney and had to testify before a grand jury to confirm information in two articles detailing Trump’s shenanigans.

The former president’s lies have suddenly assumed greater significance. They now constitute potential evidence in multiple investigations—the civil case by the state attorney general and a criminal one by the Manhattan D.A.—with the potential to cost Trump millions of dollars and, perhaps, another chance at the White House. He has denied any wrongdoing, calling the attorney general’s investigation a “vindictive and self-serving fishing expedition.” Trump’s lawyers, meanwhile, have done their best to keep documents out of the hands of authorities. But Letitia James’ office has nonetheless amassed a trove of materials and filed hundreds of documents in court. The government still doesn’t have the full picture, though, in part because Donald Trump lives like a man trying to avoid a paper trail—no texts, no emails. Forbes, however, has rec­ords those prosecutors do not, including notes from interviews over the years and a 2015 audio recording that places Trump smack in the center of the alleged deceit.



ridski said:

Forbes has just torn Trump a new a-hole.



how many is that now? 11? 27? I lost count.


ridski said:

Forbes has just torn Trump a new a-hole.

https://www.forbes.com/sites/danalexander/2022/09/21/exclusive-recording-documents-bolster-trump-fraud-lawsuit/?sh=1398d67c52ca. .
The government still doesn’t have the full picture, though, in part because Donald Trump lives like a man trying to avoid a paper trail—no texts, no emails. Forbes, however, has rec­ords those prosecutors do not, including notes from interviews over the years and a 2015 audio recording that places Trump smack in the center of the alleged deceit.

But what are they going to do about it?


I skimmed through the Forbes article. Wow. My head is spinning trying to keep up with all the maneuvers. 


drummerboy said:

ridski said:

Forbes has just torn Trump a new a-hole.



how many is that now? 11? 27? I lost count.

One. It's him.


A Trump representative lost track of the plot, and apparently posted this on social media (undervaluing for tax purposes is also a problem) -


nohero said:

A Trump representative lost track of the plot, and apparently posted this on social media (undervaluing for tax purposes is also a problem) -

With friends like that, who needs enemies. What an idiot. She's also an election denier.



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