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New York State Attorney General Letitia James announced Wednesday she was suing the Trump family and their organization.
“Today, I filed a lawsuit against Donald Trump for engaging in years of financial fraud to enrich himself, his family, and the Trump Organization,” James said in a written statement.
“There aren’t two sets of laws for people in this nation,” James continued. “Former presidents must be held to the same standards as everyday Americans.”
The lawsuit, filed on behalf of the people of New York, claims Trump “unlawfully inflated and deflated his net worth by billions to obtain and satisfy loans, get insurance benefits, and pay lower taxes.”
James also asserts that Trump’s children took part in assisting the former president with his fraud.
The Attorney General is seeking significant civil action in the lawsuit, saying “actions have consequences”. If the state successfully proves its case in court, the former President and his family would face substantial penalties.
The state is asking the justice system to force Trump to pay $250 million as a result of his alleged fraud. The lawsuit also seeks to ban the Trumps from doing business or buying commercial real estate in New York.
Perhaps most troubling for the Trumps is the announcement James also “made a criminal referral” to the Justice Department. Trump, who is already under investigation for potential violations of the Espionage Act, could face charges for fraud as well.
Trump is also under criminal investigation in Georgia. The Fulton County District Attorney is investigating whether Trump broke state law by attempting to overturn the 2020 election.
New York attorney general says “Trump’s crimes were not victimless”
Throughout her years-long investigation into the Trump family and organization finances, James allegedly found a stunning number of fraudulent actions.
“[Trump] used fraudulent and misleading asset valuations over 200 times in 10 years on his annual financial statements,” James wrote.
“Trump’s crimes are not victimless,” she continued. “When the well-connected and powerful break the law to get more money than they are entitled to, it reduces resources available to working people, small businesses, and taxpayers.”