The lawsuit accuses the former US president, who has denied wrongdoing, of “multiple acts of fraud and misrepresentation.”
The Attorney General of the US state of New York has filed a lawsuit against Donald Trump, accusing the former President of the United States of illegally increasing his net worth in order to obtain millions of dollars in loans and other benefits.
The lawsuit, filed in a New York state court in Manhattan on Wednesday, accused the Trump Organization of engaging in “multiple acts of fraud and misrepresentation” in preparing the annual statement of Trump’s financial status from 2011 to 2021.
It named the former president’s sons, Donald Trump Jr. and Eric Trump, as well as his daughter Ivanka Trump, as defendants.
New York Attorney General Letitia James said on Twitter, “Trump has increased his net worth by the billions in a number of ways, from helping his children to getting and satisfying debt, getting insurance benefits, and paying lower taxes. and reduced it.”
“In short, he lied to gain massive financial gains for himself.”
With the help of Donald Jr., Eric, Ivanka and other defendants, Trump increased and reduced his net worth by billions in various ways to obtain and satisfy debt, obtain insurance benefits, and pay lower taxes.
In short, he lied to gain massive financial gains for himself.
— NY AG James (@NewYorkStateAG) September 21, 2022
James also said she was referring criminal misconduct charges to federal prosecutors in Manhattan and the Internal Revenue Service (IRS).
The former Republican president has denied any wrongdoing and described the investigation of his business practices as a politically motivated witch-hunt by James, a Democrat. The Trump Organization has called the allegations baseless.
But Wednesday’s trial marked one of the biggest legal setbacks for Trump since he stepped down in January last year, and came after a long and often contentious legal battle by New York’s attorney general.
James’ office has spent more than three years investigating fraudulent or misleading valuations for Trump Organization assets on annual financial statements given to potential business partners, banks or tax officials.
The goal, the attorney general’s office has said, was to burnish Trump’s billionaire image and the value of his properties when doing so gave him an advantage, while at other times reducing the value of assets for tax purposes.
James has also accused Trump, his company and some family members of using delay tactics to ignore subpoenas and avoid testifying.
Trump declined to answer questions in a lengthy, closed-door statement to the attorney general’s office on August 10, invoking his constitutional right against self-incrimination more than 400 times.
Donald Trump Jr. and Ivanka Trump agreed to sit for deposits only after court decisions required them, while Eric Trump called for the right against self-incrimination more than 500 times in a 2020 statement.
On Wednesday, a lawyer for the former president dismissed the New York state lawsuit as “focused neither on the facts nor on the law — rather, it is focused solely on advancing the attorney general’s political agenda.” done.
“It is absolutely clear that the Attorney General’s office has exceeded its statutory authority by tinkering with transactions where no wrong has been committed,” Alina Habba said.
“We are confident that our judicial system will not stand up to this unchecked abuse of authority, and we look forward to defending our client against every single baseless claim by the Attorney General.”
In a post on his social media network, Trump also dismissed the lawsuit as a “witch hunt” and called James a “racist” and a “fraud” – although he did not directly address the allegations.
But the attorney general defended the legal filing, saying on Twitter, “There are no two sets of laws for people in this country: Former presidents must be held to the same standards as everyday Americans.”
Trump, who is expected to seek re-election in 2024, is also facing an ongoing legal battle over documents confiscated from his property in Mar-a-Lago, Florida, last month, according to US justices. The department is under investigation as part of an investigation into his alleged misconduct. classified material.
Meanwhile, the state of Georgia has launched a criminal investigation into the former president’s attempts to reverse the results of the 2020 election, which he lost to Joe Biden, and a congressional panel on the January 6, 2021 U.S. Capitol riots. investigating their role in ,
Credit: www.aljazeera.com /