New York Attorney General Letitia James has filed a lawsuit against Donald Trump, his three adult children, and the Trump Organization for alleged fraud including forged financial statements related to the company. In the 220-page civil lawsuit, she also alleges that Trump lied about his personal net worth to get better loans and insurance for his company, as well as tax breaks for her. Letitia James is currently seeking about $250 million in damages and is seeking to ban Trump and his three children from serving as CEOs of any New York corporation for the rest of their lives.
She also asked for an indefinite ban on all Trump companies involved in the New York business case. James even said she asked the IRS and federal prosecutors in Manhattan to conduct further investigations into Trump on suspicion of criminal misconduct.
Today, I filed a lawsuit against Donald Trump for years of financial fraud to enrich myself, my family, and the Trump Organization.
There are no two sets of laws for the people of this country: former presidents must be treated to the same standards as ordinary Americans.
– NY AG James (@NewYorkStateAG) September 21, 2022
Everything you need to know about Letitia James.
Letitia James is an American lawyer, politician, and activist, currently the 67th Attorney General of New York. She made history by becoming the first African-American woman in that position. She was born on October 18, 1958 in New York to parents Nellie and Robert James, she grew up with her seven siblings. James graduated from Fort Hamilton High School in 1981 with a bachelor’s degree in liberal arts, majoring in social work from the City University of New York’s Lehman College.
The attorney graduated from Howard University Law School in Washington, DC and began practicing law in New York State in 1989. In 2013, she also graduated with honors from Columbia University’s School of Public and International Relations with honors. Master of Public Administration degree. Letitia James previously served as public attorney for the Legal Aid Association and founded the Urban Network, a group of African-American professional organizations dedicated to providing scholarships to young people.
In 1999, the Brooklyn native was appointed the city’s first assistant state attorney in charge of the regional office. She also joined the Labor Family Party after winning a city council election against Geoffrey A. Davis in 2003. Letitia James was elected as New York City Representative in 2013, becoming a woman. The state’s first female of color. According to reports, her agency has handled more than 32,000 complaints and passed more legislation than all previous lawmakers combined.
Letitia James case against Donald Trump.
Letitia James said Wednesday that she has filed a civil lawsuit against the Trump Organization, Donald Trump and his three children, Donald Trump Jr., Eric and Ivanka, all of whom are acting as business officials. . The lawsuit names former Trump Organization CFO Allen Weisselberg and CEO Jeff McConney as defendants. The lawsuit accuses Trump of inflating his fortune by billions of dollars to get preferential loans and guarantees:
“The case shows that Donald Trump has fraudulently inflated his net worth by billions of dollars to unjustly enrich himself and deceive the system, to the detriment of us all.” He achieved this with the help of other defendants.”
Between 2011 and 2021, Trump and his organization allegedly inflated the value of other properties, including a skyscraper in Lower Manhattan, a penthouse on Fifth Avenue and Mar-a. -Lago, in exchange for “incredible financial benefits” such as lower tax bills, concessional loans. and lower coverage:
In total, Mr. Trump, the Trump Organization and other defendants identified more than 200 inaccurate and misleading asset valuations contained in 11 statements between 2011 and 2021 as part of a recurring pattern. and the general plan.”
Trump’s personal financial statements for decades were also “false and misleading in content and presentation,” according to the civil lawsuit. It further claims that inflated property prices are “astonishing” and that they affect “most, if not all, of real estate holdings in any given year.”
While explaining the alleged fraud cases, James said that Trump’s Mar-a-Lago “makes less than $25 million in annual revenue”:
“It’s supposed to be worth about $75 million, but it’s worth $739 million.”
Trump is said to have “gained a series of bank appraisals” of 40 of her commercial properties on Wall Street in New York, showing values of $200 million in August 2010 and 220 million dollars in November 2012. She then stated:
“However, in his 2011 statement, Mr. Trump listed 40 Wall Street for $524 million, which grew to $530 million over the next two years, more than double the value that the experts have closed.”
The lawyer continued:
“Worse, an estimate of more than $500 million based on information from an appraiser who valued the building at just over $200 million.”
Letitia James also spoke to Trump Tower on Fifth Avenue in Manhattan, saying:
“Mr Trump said his residence was more than 30,000 square feet, which was used to evaluate the apartment.” It’s true that the apartment is less than 11,000 square feet that Mr. Trump fully knows.”
The lawsuit also says the apartment’s valuation rose to $327 million in 2015 and 2016, making it the only New York City apartment to be sold for that amount. James said that “tripling the square footage for valuation reasons was a deliberate and planned fraud” and was “not an honest mistake”.
The lawsuit also alleges that the Trump Organization never hired outside experts to manage Donald Trump’s finances. These claims allegedly include the valuation of properties used for loans and insurance:
“To the extent that Mr. Trump and the Trump Organization have received any expert outside guidance on how to approach property valuation, they have generally rejected or contradicted that advice.”
According to CNBC, Trump has been accused of “repeated and repeated fraud; conspiracy to falsify business books; fabricating business records; conspiracy to prepare false financial statements; prepare untrue financial statements; insurance fraud conspiracy and insurance fraud.” Responding to Letitia James’ allegations, Trump’s attorney, Alina Habba, said the filing “focuses on advancing the attorney general’s political agenda” and is not “based on facts or the law” “:
“It is clear that the State Attorney’s Office has exceeded its legal authority by investigating transactions that are not illegal.”
Action has consequences. We try:
Ask Trump to pay $250 million.
Permanently ban the Trump family from operating a business in New York.
➡️ Ban Trump and Trump Org from buying commercial real estate in New York for 5 years.
➡️We refer criminal proceedings to the US Department of Justice.
– NY AG James (@NewYorkStateAG) September 21, 2022
The lawyer continued:
“We are confident that our court system will not tolerate this abuse of power and we look forward to protecting our clients against any baseless allegations by the Attorney General.”
Meanwhile, Donald Trump hastily took to Twitter to call the investigation a “witch hunt”. As part of her investigation, Letitia James is said to have researched millions of documents and interviewed more than 65 witnesses. According to reports, the Manhattan district attorney’s office has also opened a criminal investigation into the matter.
Categories: Entertaintment
Source: vcmp.edu.vn