The attorney general of New York state has filed a civil fraud complaint against Donald Trump and three of his children involved in the family real-estate firm for allegedly exaggerating his net worth by billions in order to benefit himself and receive favourable loans.
Announcing the suit Letitia James said, “I am announcing today that we are filing a lawsuit against Donald Trump for violating the law as part of his efforts to generate profits for himself, his family, and his company.
“The complaint demonstrates that Donald Trump falsely inflated his net worth by billions of dollars to unjustly enrich himself and to cheat the system, thereby cheating all of us.”
It wants around $250 million in allegedly illicit earnings from the plan, as well as a five-year ban on the former president, Donald Trump Jr., Ivanka Trump, and Eric Trump engaging in any real estate transactions, a limitation that would effectively terminate the Trump real estate empire.
Furthermore, it seeks a permanent prohibition on the former president and his family members participating in his commercial ventures, acting as directors or executives of any New York company or business licensed in the state.
Meanwhile, Trump blasted James on his Truth Social platform on Wednesday, calling her probe a politicized “witch hunt” and labelling James a “racist.”