The civil lawsuit that extends for almost 200 pages claims that the fraud included Trump's business including his Golf Course and properties. The announcement is the latest development in what has been a three-year investigation led by James into the Trump Organization’s finances.
“These acts of fraud and misrepresentation were similar in nature, were committed by upper management at the Trump Organization as part of a common endeavor for each annual Statement, and were approved at the highest levels of the Trump Organization – including by Mr. Trump himself," CNN quotes the lawsuit.
People named in the civil lawsuit
Trump and his children, Donald Trump Jr., Eric Trump and Ivanka Trump, are named as defendants in the lawsuit. Allen Weisselberg, former CFO for the Trump Organization, and Jeff McConney, another longtime company executive, are also named.
Civil lawsuit allegations against Trumps
The lawsuit alleges that the Trump Organization deceived lenders, insurers and tax authorities by inflating the value of his properties. The lawsuit further claims that the fraud was conducted using misleading appraisals.
According to the CNN report, James has mentioned that she is under the impression that to conduct the fraud, the Trump organisation has violated state and criminal laws. She has referred the matter to the US attorney’s office for the Southern District of New York and the Internal Revenue Service.
James is seeking $250 million in allegedly ill-gotten funds and to permanently bar Trump and the children named in the lawsuit from serving as the director of a business registered in New York state. She is also seeking to cancel the Trump Organization’s corporate certificate, which, if granted by a judge, could effectively force the company to cease operations in New York state.
Trump previously called James a “renegade prosecutor" who he said is running a “vindictive and self-serving fishing expedition." The Trump Organization called her previously allegations “baseless" and denied any wrongdoing.
Notably, the civil lawsuit has come at a time when legal pressure on Donald Trump is mounting as investigation by prosecutors proceed closer to his inner circle.
Meanwhile, Trump is facing numerous criminal investigations from federal and state prosecutors involving the accuracy of his company’s financial statements, interference in the 2020 presidential election, and his handling of classified documents after leaving office. Trump has denied any wrongdoing.
