Letitia James, the attorney general for the state of New York has announced the filing of a civil lawsuit against Donald Trump and his family and associates for fraud.
In a statement, the attorney general said the suit was filed “against Donald Trump, the Trump Organization, senior management and involved entities for engaging in years of financial fraud to obtain a host of economic benefits.
“The lawsuit alleges that Donald Trump, with the help of his children Donald Trump Jr, Ivanka Trump and Eric Trump, and senior executives of the Trump Organization, falsely inflated his net worth by billions of dollars to induce banks to lend money to the Trump Organization on more favorable terms than would otherwise have been available to the company, to satisfy continuing loan covenants, induce insurers to provide insurance coverage for higher limits and lower premiums, and to gain tax benefits, among other things.”
…James also said investigators believed “the conduct alleged in this action also violates federal criminal law, including issuing false statements to financial institutions and bank fraud”.
She said: “We are referring those criminal violations that we’ve uncovered to the United States attorney for the southern district of New York and the Internal Revenue Service.”