New York Attorney General Letitia James on Wednesday filed suit against former President Donald Trump, his kids Eric, Ivanka and Donald Trump Jr., and the Trump Organization — alleging fraud …
New York Attorney General Letitia James on Wednesday filed a $250 million lawsuit against former President Donald Trump, his kids Eric, Ivanka and Donald Trump Jr., and the Trump Organization — alleging “staggering” fraud in the family real estate business.
“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. Specifically, James alleges that Trump and the co-defendants used a slew of tricks — including making at least 200 false or misleading statements inflating assets — to carry out a conspiracy that netted them at least $250 million.
Trump would lie about the amount of cash he had on hand and would overvalue his real estate properties by using different methods to value the same properties from one year to the next, James claimed. He also exaggerated the square footage of his triplex in Trump Tower, claiming it was 30,000 square feet when it was actually just under 11,000 square feet, the suit alleges. This exaggeration meant that the property was valued at $327 million — a price that no apartment in New York has ever sold for, James said.
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