James was to announce the suit at a Wednesday press conference, in a suit that accuses Trump and his three adult children of pumping up property valuations of his real estate empire, and low-balling values when dealing with tax authorities.
She said following a review of ‘millions of documents,’ and told reporters it was for ‘violating the law as part of his efforts to generate profits for himself, his family and his company.’
She said he did so ‘to cheat the system and to cheat all of us.’
She specifically named Trump and three of his adult children, Don Jr., Eric, and Ivanka Trump, and said they ‘persistently’ inflated the value of assets.
New York AG Letitia James announced Wednesday that her office is suing former President Donald Trump and his adult children
The total ‘fraud’ was in the amount of $250 million, she claimed.
She referred specifically to ‘statements of financial condition’ prepared for Trump by his accountants and executives.
Trump vouched to the accuracy of those statements when submitting them to banks and insurance companies.
‘We show that they violated several state criminal laws, including falsifying business records, showing false financial statements, insurance fraud, and engaging in a conspiracy to commit each of these state law violations,’ she said.
She accused them of creating ‘more than 200’ false and misleading asset valuations.