Donald Trump, his family business, and three of his adult children are being sued by New York’s attorney general who accuses them of overvaluing assets and their net worth through a decade of lies to banks and insurers.
Letitia James filed her civil lawsuit in a New York state court in Manhattan, accusing the Trump Organization of “numerous acts of fraud and misrepresentation” in preparing financial statements from 2011 to 2021.
She also said Mr. Trump, who has long used his net worth to burnish his image and fame as a successful businessman and politician, inflated his wealth by billions of dollars to help his company obtain favourable financial terms on transactions, including lower interest rates and cheaper insurance coverage.
The 214-page complaint also names Mr Trump’s adult children Donald Trump Jr, Eric Trump, and Ivanka Trump as defendants, as well as longtime company executives including former chief financial officer Allen Weisselberg.
This story is from the September 22, 2022 edition of The Independent.
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This story is from the September 22, 2022 edition of The Independent.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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