VIDEO New York AG Letitia James files lawsuit against Trump, his 3 kids and company | full video

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New York AG Letitia James files lawsuit against Trump, his 3 kids and company On September 21, 2022, New York Attorney General Letitia James announced that her office is suing former President Donald Trump, along with his three adult children—Donald Jr., Ivanka, and Eric—as well as the Trump Organization. This lawsuit is the culmination of a comprehensive three-year investigation that included interviews with over 65 witnesses and reviews of millions of documents.

Summary of Allegations​

The lawsuit alleges that Trump and the other defendants participated in a persistent pattern of fraud designed to inflate Trump’s net worth by billions of dollars. The inflated values were reportedly used to secure favorable terms from banks, insurance companies, and other financial institutions. According to the allegations, Trump manipulated asset values to obtain loans and insurance coverage at better rates than what would have been available under truthful conditions.

Key Points of the Lawsuit​

1. Misrepresentation of Financial Condition: The Trump Organization allegedly provided false financial statements over a decade (2011-2021), which exaggerated asset values for advantageous financial terms. The lawsuit states that they created and utilized over 200 misleading asset valuations.
2. Violation of Laws: The suit cites violations of several New York state laws, including issuing false financial statements and engaging in fraudulent conduct. James emphasized that the conduct not only violates state laws but could also implicate federal laws concerning bank fraud.
3. Specific Examples of Fraud:
   • Trump’s apartment in Trump Tower was represented as being over 30,000 square feet, while its actual size is under 11,000 square feet. This misrepresentation allegedly inflated its value significantly.
   • Valuations of properties such as Mar-a-Lago ignored significant legal restrictions that would affect property values, listing it as unrestricted land for residential use when it was not.
     

     Requested Legal Relief​

     The AG is seeking several forms of relief, including:
     • A permanent ban on Trump and his children from serving as officers in any corporation in New York.
     • A five-year ban on the Trump Organization from engaging in new commercial real estate acquisitions in the state.
     • Requirement for Trump and his organization to repay an estimated $250 million obtained through fraudulent practices.
     • Appointment of an independent monitor to ensure compliance with financial reporting obligations.

     Broader Implications​

     Letitia James concluded by asserting that white-collar crime is not victimless. The actions taken against Trump reflect a commitment to holding even high-profile individuals accountable under the law. The lawsuit is expected to provoke discussions about the nature of wealth, accountability, and legal standards for those in powerful positions.
     

     Community Engagement​

     This lawsuit represents a significant moment in legal and political discourse surrounding accountability at the highest levels. What do you think about the implications of this lawsuit for similar cases involving high-profile individuals? Share your thoughts and any additional insights you might have about the Trump Organization's financial practices!