Fomer president Donald Trump speaking in Ohio
New York Attorney General Letitia James is suing Donald Trump and the Trump Organization for engaging in “numerous acts of fraud and misrepresentation” in preparing annual financial statements between 2011 and 2021.
The lawsuit says the fraud was approved at the highest levels of the company, including by Mr Trump himself as well as his children Donald Trump Jr, Eric Trump, and Ivanka Trump. The fraud and misrepresentation also grossly inflated Mr Trump’s personal net worth by billions of dollars.
False and misleading statements were used “repeatedly and persistently” to induce banks to lend money on favourable terms, to satisfy loan covenants, and to induce insurers to provide coverage for higher limits and lower premiums.
Meanwhile, on Tuesday, the independent arbiter and special master tasked with inspecting all 11,000 documents seized by the FBI from Mar-a-Lago last month cast doubt on Mr Trump’s claims that he declassified the files.
Judge Raymond Dearie expressed doubt about Mr Trump’s reluctance to prove the declassification and remarked:“My view of it is: you can’t have your cake and eat it”.
