NEW YORK (PIX11) — New York Attorney General Letitia James is suing former President Donald Trump and his three grown children on business fraud charges, the politician announced Wednesday morning.
James said Trump, Donald Trump Jr., Eric Trump, Ivanka Trump and his company falsely inflated his net worth by billions of dollars to get banks to give him favorable interest rates. James seeks to ban the former president and his children from ever running a company in New York again.
James said Trump claimed he had no money and lied about the size of his home. She is also referring the case to the federal authorities for a criminal investigation.
She called the findings “staggering” and Trump’s alleged actions “the art of theft.”
“They should all be held accountable,” James said. “No one is above the law.”
The long-running civil investigation includes allegations that Trump’s company, the Trump Organization, misrepresented the value of valuable assets such as golf courses and skyscrapers, misleading lenders and the tax authorities. Last month, Trump exercised his Fifth Amendment right not to answer questions during a deposition.
In May, James’ office said the investigation was nearing completion and that investigators had gathered substantial evidence that could support legal action against Trump, his campaign, or both. The attorney general’s office said the Republican’s deposits were among the few that went missing.
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