NY sues Trump, company and family members over widespread fraud claims, seeks $250M in penalties

New York Attorney General Letitia James connected Wednesday sued erstwhile President Donald Trump, the Trump Organization, 3 of his big children, and others for allegedly wide fraud involving mendacious fiscal statements related to the company.

The civilian suit filed successful Manhattan Supreme Court seeks astatine slightest $250 cardinal successful damages, and seeks to barroom Trump, Donald Trump Jr., Eric Trump, and Ivanka Trump from serving arsenic an serviceman of a institution successful New York.

James besides said that she was referring grounds obtained successful the people of a three-year probe to national prosecutors successful Manhattan, arsenic good arsenic to the Internal Revenue Service, saying she believed it showed violations of national transgression laws.

"Trump falsely inflated his nett worthy by billions of dollars," James said astatine a property conference. She besides noted that helium had falsely claimed that his flat successful Manhattan was much than triple its existent size arsenic portion of the fraud.

James said Trump grossly overstated the values of his assets to get much favorable indebtedness and security presumption for his company, arsenic good arsenic to little its taxation obligations.

The ailment says that Trump's idiosyncratic fiscal statements "for the play 2011 done 2021 were fraudulent and misleading successful some their creation and presentation."

"The fig of grossly inflated plus values is staggering, affecting astir if not each of the existent property holdings successful immoderate fixed year. All told, Mr. Trump, the Trump Organization, and the different Defendants, arsenic portion of a repeated signifier and communal scheme, derived much than 200 mendacious and misleading valuations of assets included successful the 11 Statements covering 2011 done 2021."

Trump's lawyer Alina Habba, successful a statement, said, "Today's filing is neither focused connected the facts nor the instrumentality – rather, it is solely focused connected advancing the Attorney General's governmental agenda."

"It is abundantly wide that the Attorney General's Office has exceeded its statutory authorization by prying into transactions wherever perfectly nary wrongdoing has taken place," Habba said.

"We are assured that our judicial strategy volition not basal for this unchecked maltreatment of authority, and we look guardant to defending our lawsuit against each and each 1 of the Attorney General's meritless claims."

James' bureau interviewed much than 65 witnesses and reviewed millions of documents portion of the investigation, the suit said.

Read the suit against Trump and others here.