New York's attorney general has sued former President Donald Trump and his company for fraud, alleging they padded his net worth by billions of dollars by manipulating the value of prized assets. 9News
and Eric Trump, were also named as defendants, along with two longtime company executives, Allen Weisselberg and Jeffrey McConney.Trump's three eldest children, Donald Jr., Ivanka and Eric Trump, were also named as defendants
The alleged scheme was intended to burnish Trump's billionaire image and the value of his properties when doing so gave him an advantage, such as in obtaining favourable loan terms, while playing down the value of assets at other times for tax purposes, James' office said. Seven Springs, a property owned by former US President Donald Trump, covered in snow in Mount Kisco, New York.
James' lawsuit comes amid a swirl of unprecedented legal challenges for a former president, including an FBI investigation into Trump's handling of classified records and inquiries into his efforts to overturn the 2020 election. All of the legal drama is playing out ahead of the November midterm elections, where Republicans are trying to win control of one or both houses of Congress.
James, who campaigned for office as a Trump critic and watchdog, started scrutinising his business practices in March 2019 after his former personal lawyer Michael Cohen testified to Congress that Trump exaggerated his wealth on financial statements provided to Deutsche Bank when he was trying to obtain financing to buy the NFL's Buffalo Bills.
The civil lawsuit comes as Trump is under increasing legal pressure as prosecutors are taking investigative steps that move ever closer to his inner circle. The announcement is the latest development in what has been a three-year investigation led by James into the Trump Organisation's finances
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