President Donald J. Trump participates in a tax reform kickoff event at the Loren Cook Company, Wednesday, August 30, 2017, in Springfield, Missouri. (Official White House Photo by Joyce N. Boghosian). Via Wikimedia Commons.

New York Attorney General Letitia James (D) announced Wednesday a new lawsuit against 45th President Trump, is company, and some of his children, claiming fraud.

The Daily Wire reports:

James has led an investigation into Trump and his business for more than three years, a probe the former president has dismissed as a political witch hunt. When James deposed Trump last month as part of the investigation, the former president pleaded his Fifth Amendment rights hundreds of times.

The lawsuit targets the president, his business, and many associates. In addition to the former president, the lawsuit targets Donald Trump Jr., Eric Trump, Ivanka Trump, Allen Weisselberg, Jeffrey McConney, The Donald J. Trump Revocable Trust, The Trump Organization, Inc., and others, according to CNN.

According to CNBC:

“Trump falsely inflated his net worth by billions of dollars,” James said at a press conference.

James said Trump massively overstated the values of his assets to obtain more favorable loan and insurance terms for his company, as well as to lower its tax obligations.

“The number of grossly inflated asset values is staggering, affecting most if not all of the real estate holdings in any given year,” the suit alleges.

“All told, Mr. Trump, the Trump Organization, and the other Defendants, as part of a repeated pattern and common scheme, derived more than 200 false and misleading valuations of assets included in the 11 Statements covering 2011 through 2021.”

The civil suit seeks damages of at least $250 million while demanding Trump, Donald Trump Jr., Eric Trump, and Ivanka Trump be permanently barred from serving as officers of the company in the state.

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Gerald Ladd
3 days ago

she’s a worthless nigger demonRAT.

Stephen Russell
Stephen Russell
3 days ago

Pure TDS Big time
She needs Help:

Trump bobble head
MAGA hat
Trump poster
Then see reactions

Gene Ralno
Gene Ralno
3 days ago

The entire nation has had it with democrat party investigations and lawsuits. Democrats in control need to solve problems and stop their policy of litigious harassment of Trump & Co. The standing order for these minor officials seems to automatically smear and sue. It’s expensive, ineffective and needs to stop.

In particular, Letitia James needs to face the fact that she’s an Attorney General over one of the nation’s growing number of failed states headed for a really big dumpster. She’s becoming almost as infamous as Chicago’s Beetlejuice, California’s Governor Gaslight, Washington’s Governor Maggot Man and last but not least Slick Willy.

3 days ago

Amazing BS – a ruling against Trump on this would allow those 87,000 new IRS agents to prosecute every business owner and many in the private sector that have small businesses. When I look at financial statements, it has always been a joke that you can assume that 50% of their stated net worth is the real value of it – so, are we going to prosecute everyone in business or seeking loans that have income from different sources and do not simply receive a 1098 or W2 of social security as their only income? Shall the IRS and others harass them too? Further, when banks, th e government and others loan money, they use independent appraisers – NOT the borrower’s appraiser as it is illegal to banks to do so. It’s your tax dollars they spend on all of this crap – will you let them?

3 days ago

To HELL with Morticia James! Offer her a free skydiving session in the Bermuda Triangle! She just might accept.