New York AG Letitia James has filed a civil fraud lawsuit against former President Donald Trump and others, according to court records.
- Thread starter ☑︎#VoteDemocrat
- Start date
Trump is notorious for running scams. He was on the hook for paying over 20 million for the Trump university scam.
www.nbcnews.com
Federal court approves $25 million Trump University settlement
A federal court approved a $25 million settlement with students who said they were duped by Donald Trump and his now-defunct Trump University.
www.nbcnews.com
bigdaddy88
The King Of Power
horse and pony show lol and folks fall for it just like the fbi raid and he will still not see a lick of jail time
ExodusNirvana
Change is inevitable...
The Half-Blood FKA Prince
Avada Kedavbreh!
New York AG Letitia James files $250M lawsuit against Trump for defrauding lenders, others
New York AG Letitia James has filed a sweeping lawsuit against Donald Trump and his family alleging they used false financial statements to defraud lenders and others.abcnews.go.com
New York AG Letitia James files $250M lawsuit against Trump for defrauding lenders, others
ABC News
For 20 years, Donald Trump and his family enriched themselves through "numerous acts of fraud and misrepresentations," New York Attorney General Letitia James alleges in a new lawsuit that accuses the Trumps of "grossly" inflating the former president's net worth by billions of dollars and cheating lenders and others with false and misleading financial statements.
The civil lawsuit, filed Wednesday in State Supreme Court in Manhattan, seeks a $250 million judgment and a prohibition on any of the Trumps leading a company in the state of New York.
Among other allegations, the suit claims that the former president’s Florida estate and golf resort, Mar-a-Lago, was valued as high as $739 million, but should have been valued at around one-tenth that amount, at $75 million. The suit says that higher valuation was "based on the false premise that it was unrestricted property and could be developed for residential use even though Mr. Trump himself signed deeds donating his residential development rights and sharply restricting changes to the property."
James is referring her findings to federal prosecutors in Manhattan, who could possibly open a criminal investigation into bank fraud, according to a footnote in the lawsuit.
Through "persistent and repeated business fraud," the Trumps convinced banks to lend money to the Trump Organization on more favorable terms than deserved, according to the lawsuit, which named the former president, three of his adult children, the company, and two of its executives, Allan Weisselberg and Jeff McConney.
"Mr. Trump made known through Mr. Weisselberg that he wanted his net worth on the Statements to increase -- a desire Mr. Weisselberg and others carried out year after year in their fraudulent preparation of the Statements," the lawsuit said. "The scheme to inflate Mr. Trump's net worth also remained consistent year after year."
Weisselberg last month pleaded guilty to unrelated criminal charges of tax evasion brought by the Manhattan district attorney's office, which has been conducting a parallel investigation.
Trump has denied wrongdoing and has called the investigation a politically motivated "witch hunt" by an attorney general he has called "racist." James, who is black, rejected a settlement offer from the Trump Organization last month to resolve the matter, sources told ABC News.
A wide angle view shows the main entrance of Trump Tower in New York, Feb, 2020.
Nicolas Economou/NurPhoto via AP, FILE
During a deposition last month, Trump repeatedly invoked his Fifth Amendment right against self-incrimination. The lawsuit includes numerous instances in which Trump invoked the Fifth when asked to explain how the company calculated the value of certain properties. In a civil trial, jurors would be able to draw a negative inference about Trump declining to answer.
The attorney general's investigation began in March 2019, after Trump's former lawyer, Michael Cohen, testified before Congress that Trump's annual financial statements inflated the values of Trump's assets to obtain favorable terms for loans and insurance coverage, while also deflating the value of other assets to reduce real estate taxes.
The suit also said a 2012 statement valued rent-stabilized apartments in the Trump Park Avenue property as if they could be rented at market value. As a result, units collectively worth $750,000 were valued at nearly $50 million, according to the lawsuit.
Trump Turnberry, a golf club in Scotland, was valued at nearly $127 million, but the suit said that since it opened in 2017 the golf course has operated at a loss each year.
"As a result, using values for the golf course ranging between $123 million and $126.8 million based on employing the Fixed Asset Scheme is materially false and misleading; the golf course should have been valued at a much lower figure," the attorney general's suit said.
"The magnitude of financial benefit derived by Mr. Trump and the Trump Organization by means of these fraudulent and misleading submissions was considerable," the suit said.
New York AG Letitia James files $250M lawsuit against Trump for defrauding lenders, others
New York AG Letitia James has filed a sweeping lawsuit against Donald Trump and his family alleging they used false financial statements to defraud lenders and others.New York AG Letitia James files $250M lawsuit against Trump for defrauding lenders, others
ABC News
For 20 years, Donald Trump and his family enriched themselves through "numerous acts of fraud and misrepresentations," New York Attorney General Letitia James alleges in a new lawsuit that accuses the Trumps of "grossly" inflating the former president's net worth by billions of dollars and cheating lenders and others with false and misleading financial statements.
The civil lawsuit, filed Wednesday in State Supreme Court in Manhattan, seeks a $250 million judgment and a prohibition on any of the Trumps leading a company in the state of New York.
Among other allegations, the suit claims that the former president’s Florida estate and golf resort, Mar-a-Lago, was valued as high as $739 million, but should have been valued at around one-tenth that amount, at $75 million. The suit says that higher valuation was "based on the false premise that it was unrestricted property and could be developed for residential use even though Mr. Trump himself signed deeds donating his residential development rights and sharply restricting changes to the property."
James is referring her findings to federal prosecutors in Manhattan, who could possibly open a criminal investigation into bank fraud, according to a footnote in the lawsuit.
Through "persistent and repeated business fraud," the Trumps convinced banks to lend money to the Trump Organization on more favorable terms than deserved, according to the lawsuit, which named the former president, three of his adult children, the company, and two of its executives, Allan Weisselberg and Jeff McConney.
"Mr. Trump made known through Mr. Weisselberg that he wanted his net worth on the Statements to increase -- a desire Mr. Weisselberg and others carried out year after year in their fraudulent preparation of the Statements," the lawsuit said. "The scheme to inflate Mr. Trump's net worth also remained consistent year after year."
Weisselberg last month pleaded guilty to unrelated criminal charges of tax evasion brought by the Manhattan district attorney's office, which has been conducting a parallel investigation.
Trump has denied wrongdoing and has called the investigation a politically motivated "witch hunt" by an attorney general he has called "racist." James, who is black, rejected a settlement offer from the Trump Organization last month to resolve the matter, sources told ABC News.
A wide angle view shows the main entrance of Trump Tower in New York, Feb, 2020.
Nicolas Economou/NurPhoto via AP, FILE
During a deposition last month, Trump repeatedly invoked his Fifth Amendment right against self-incrimination. The lawsuit includes numerous instances in which Trump invoked the Fifth when asked to explain how the company calculated the value of certain properties. In a civil trial, jurors would be able to draw a negative inference about Trump declining to answer.
The attorney general's investigation began in March 2019, after Trump's former lawyer, Michael Cohen, testified before Congress that Trump's annual financial statements inflated the values of Trump's assets to obtain favorable terms for loans and insurance coverage, while also deflating the value of other assets to reduce real estate taxes.
The suit also said a 2012 statement valued rent-stabilized apartments in the Trump Park Avenue property as if they could be rented at market value. As a result, units collectively worth $750,000 were valued at nearly $50 million, according to the lawsuit.
Trump Turnberry, a golf club in Scotland, was valued at nearly $127 million, but the suit said that since it opened in 2017 the golf course has operated at a loss each year.
"As a result, using values for the golf course ranging between $123 million and $126.8 million based on employing the Fixed Asset Scheme is materially false and misleading; the golf course should have been valued at a much lower figure," the attorney general's suit said.
"The magnitude of financial benefit derived by Mr. Trump and the Trump Organization by means of these fraudulent and misleading submissions was considerable," the suit said.
Raw, lights on, non stop eye contact, passionate tongue kissing and im eating the whole ass and puss
250 million? Lock Him Up!
Cat piss martini
Veteran
She does courtesy of New York State Troopers
Charges filed against man who allegedly threatened N.Y. AG, civil fraud case judge
Story by Tom Winter and Megan Lebowitz• 3h • 2 min read
Charges filed against man who allegedly threatened N.Y. AG, civil fraud case judge© Provided by NBC News
WASHINGTON — New York state police filed charges against a man whom they allege sent threatening messages to Judge Arthur Engoron and New York Attorney General Letitia James, a person with direct knowledge of the matter told NBC News.
Engoron presided over former President Donald Trump's civil fraud trial, in which Trump and executives at his company were hit with a more than $464 million fraud judgment. James brought the fraud case.
Tyler Vogel, 26, of Lancaster, New York, faces a felony charge for allegedly making a terroristic threat against James after finding her information online and threatening her with death or injury if she did not drop her case against Trump, the source said.
Vogel faces a separate felony charge for allegedly making a terroristic threat for sending a message to Engoron, the person said. He was also hit with two counts of aggravated harassment in the second degree, which is a misdemeanor, for those threats.
In his message to Engoron, Vogel allegedly said that he would go after the judge if Trump were to be jailed or his properties seized as part of the case. The New York man also called Engoron's actions un-American and said that Trump was innocent, the source alleged.
It is unclear when Vogel's next day in court will take place or whether he has entered a plea.
Neither Engoron's nor James' offices immediately responded to NBC News' requests for comment Wednesday night.
Engoron and James have faced repeated threats for their work on the Trump civil fraud case. NBC News previously reported that Engoron was sent an envelope containing white powder in February, triggering an emergency response at his New York City courthouse. Engoron was not exposed to the substance.
In January, police responded to a bomb threat at Engoron's home. James has also said that people have threatened her life.
The former president has repeatedly bashed Engoron and James and slammed the multimillion judgment against him.
Trump posted a $175 million bond on Monday after the bond amount was reduced. He was initially liable for $454 million.
This article was originally published on NBCNews.com