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Trump Organisation Is Basically A Sham – New York AG Says As She Slams Lawsuit On Former President, Children For Fraud

Letitia James on Wednesday said the Trump Organisation is basically a sham as she slammed a 300-page lawsuit on former President Donald Trump, his children, alleging they were involved in far-reaching fraud lasting over a decade which the former President used to enrich himself.

In nearly 300-page lawsuit, Attorney General Letitia James, alleged that the fraud touched all aspects of the Trump business, including its properties and golf courses.

It is alleged that the Trump Organization misled lenders, insurers and tax authorities by inflating the value of his properties using misleading appraisals.

“These acts of fraud and misrepresentation were similar in nature, were committed by upper management at the Trump Organization as part of a common endeavor for each annual Statement, and were approved at the highest levels of the Trump Organization — including by Mr. Trump himself,” the lawsuit stated.

Trump and his children, Donald Trump Jr., Eric Trump and Ivanka Trump, Allen Weisselberg, former CFO for the Trump Organization, and Jeff McConney, another longtime company executive, are named as defendants in the lawsuit.
 
The attorney general also said criminal laws may have been violated and she will be referring the matter to the US attorney’s office for the Southern District of New York and the Internal Revenue Service.
 
The state of New York is seeking $250 million in allegedly ill-gotten funds and to permanently bar Trump and the children named in the lawsuit from serving as the director of a business registered in New York state.
 
James is also seeking to cancel the Trump Organization’s corporate certificate, which, if granted by a judge,
 
If granted, this could effectively force the company to cease operations in New York state.

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