Letitia James at the NYC "March for our Lives" rally. Central Park South at Columbus Circle. Letitia at the head of the All Woman Identified Drumline FogoAzul NYC

New York Attorney General Sues Trump and Family Business Accusing Him of Fraud

New York Attorney General Letitia James has sued President Donald Trump and his family’s real estate business accusing him of fraud, The New York Time reports.

The report from the New York Times calls the fraud “staggering.”

Donald J. Trump, his family business and three of his adult children lied to lenders and insurers for more than a decade, fraudulently overvaluing his assets by billions of dollars in a sprawling scheme, according to a lawsuit filed on Wednesday by the New York attorney general, Letitia James, who is seeking to bar the Trumps from ever running a business in the state again.

Ms. James concluded that Mr. Trump and his family business violated several state criminal laws and “plausibly” broke federal criminal laws as well. Her office, which in this case lacks authority to file criminal charges, referred the findings to federal prosecutors in Manhattan; it was not immediately clear whether the U.S. attorney would investigate.

The 220-page lawsuit, filed in New York State Supreme Court, lays out in new and startling detail how, according to Ms. James, Mr. Trump’s annual financial statements were a compendium of lies. The statements, yearly records that include the company’s estimated value of his holdings and debts, wildly inflated the worth of nearly every one of his marquee properties — from Mar-a-Lago in Florida to Trump Tower and 40 Wall Street in Manhattan, according to the lawsuit.

The company also routinely spurned the assessments of outside experts: After a bank ordered an appraisal that found 40 Wall Street was worth $200 million, the Trumps promptly valued it at well over twice that number. Overall, the lawsuit said that 11 of Mr. Trump’s annual financial statements included more than 200 false and misleading asset valuations.

James ran on getting Trump for fraud, which lends to Trump’s argument that this is nothing but a politically motivated witch hunt.

James is continuing her focus on Trump with this new lawsuit as Democrats continue to try to take down the man that haunts them.

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