Wednesday, May 25 2022

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NY AG alleges evidence of fraud at Trump business

New York state’s attorney general has accused Donald Trump’s family business of repeatedly misrepresenting the value of its assets, citing what it said was significant new evidence of possible fraud.The accusations by Attorney General Letitia James mark a substantial escalation of her civil probe into the Republican former U.S. president’s business, the Trump Organization, and the roles of his adult children.They are part of her effort to force Donald Trump and his children Donald Trump Jr and Ivanka Trump to comply with her subpoena to testify under oath, which the family has asked a judge to block.In a statement, James said, “thus far in our investigation, we have uncovered significant evidence that suggests Donald J. Trump and the Trump Organization falsely and fraudulently valued multiple assets and misrepresented those values to financial institutions for economic benefit.”The properties include golf clubs in Aberdeen, Scotland, and suburban Westchester County, buildings on Wall Street and Park Avenue in Manhattan, and Trump’s penthouse in Trump Tower.James has been investigating whether real estate values were inflated to obtain bank loans and reduced to lower tax bills.Donald Trump and his children have not been accused of criminal wrongdoing, and James cannot file criminal charges because her probe is civil.Trump, a Republican, has called the probe a politically motivated “witch hunt.” James is a Democrat.A lawyer for Trump, in a statement called James’ accusations “merely the latest in a long line of unfounded attacks.”

Source: Yahoo Sports

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