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New york state’s attorney general called numerous acts of fraud accusing the family of misstating the values of real estate properties to obtain favorable loans and tax benefits.
The move by letitia James marks one of the biggest legal blows yet for the former president, The former president stuns Donald trump, and eric trump, as well as his daughter Ivanka Trump, are also named as defendants in the suit as well as the trump organization
A family company that manages hotels, golf courses, and other real estate around the world. James says trump inflated his net worth by billions.
During the contentious three-year investigation James said the office uncovered more than 200 examples of misleading asset valuations on nearly two dozen assets in the case.
she said the former president tried to make it look like his apartment in trump tower was only triple its actual square footage.
James also said trump valued his mar-a-lago estate in Florida as high as 739 million dollars by pretending it could be developed for residential use when he knew there were restrictions.
James said mar-a-lago should have been valued closer to 75 million dollars, James wants trump and his children permanently barred from running any companies in new york and trump and his organization banned from doing real estate deals for five years.
She’ll refer allegations of criminal wrongdoing to federal prosecutors and the internal revenue service.
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