Lawsuit accuses former US president, who has denied wrongdoing, of ‘numerous acts of fraud and misrepresentation’.
The attorney general for the US state of New York has filed a lawsuit against Donald Trump, accusing the former United States president of unlawfully inflating his net worth to obtain millions of dollars in loans and other benefits.
The lawsuit, filed in a New York state court in Manhattan on Wednesday, accused the Trump Organization of engaging in “numerous acts of fraud and misrepresentation” in preparing Trump’s annual statements of financial condition from 2011 to 2021.
It also named the Trump Organization, the former president’s sons Donald Trump Jr and Eric Trump, and his daughter Ivanka Trump as defendants.
With the help of his children, “Trump variously unlawfully inflated and deflated his net worth by billions to obtain and satisfy loans, get insurance benefits, and pay lower taxes”, New York Attorney General Letitia James said on Twitter.
“In short, he lied to gain massive financial benefits for himself.”
The Republican former president has denied any wrongdoing and described James’ investigation into his business practices as a politically motivated witch hunt. The Trump Organization has called James’ allegations “baseless.”
More to follow.