NEW YORK, NY – The office of New York Attorney General Letitia James has filed a civil lawsuit against former President Donald Trump, his businesses, three of his children, and several associates over allegations that his past financial statements have included “numerous acts of fraud and misrepresentation.”
While at a press conference Wednesday morning, AG James accused the former 45th Commander-in-Chief – with the assistance of his sons Donald Jr. and Eric, and daughter Ivanka – had “manipulated the value of assets” in order to artificially increase or decrease his net worth “by billions of dollars” to either avoid paying taxes and/or to procure loans or other business deals.
“Mr. Trump and the Trump Org repeatedly and persistently manipulated the value of assets to induce banks to lend money to the Trump Organization on more favorable terms than would otherwise have been available to the company,” James said. “To pay lower taxes, to satisfy continuing loan agreements and to induce insurance companies to provide insurance coverage for higher limits and at lower premiums.”
Alina Habba, an attorney representing Trump, denied AG James’ accusations in a statement released after the press conference, instead claiming that the lawsuit was merely a farce driven solely by a partisan political agenda.
“Today’s filing is neither focused on the facts nor the law…rather, it is solely focused on advancing the Attorney General’s political agenda,” Habba said. “It is abundantly clear that the Attorney General’s Office has exceeded its statutory authority by prying into transactions where absolutely no wrongdoing has taken place. We are confident that our judicial system will not stand for this unchecked abuse of authority, and we look forward to defending our client against each and every one of the Attorney General’s meritless claims.”