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Donald Trump and children are sued by New York attorney general for fraud

Rogue Valley

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All are accused of financial fraud in a civil lawsuit by the State of New York.

9.21.22
Donald Trump, his family business, and three of his adult children were sued on Wednesday by New York's attorney general, who accused them of overvaluing the former U.S. president's assets and net worth through a decade of lies to banks and insurers. Attorney General 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 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 favorable financial terms on transactions, including lower interest rates and cheaper insurance coverage. The 214-page complaint also names 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.

The Trump Organization manages hotels, golf courses and other real estate around the world, and had been under investigation by James for more than three years. James said the values of 23 assets had been "grossly and fraudulently inflated," and her office uncovered more than 200 examples of misleading asset valuations. Those assets included marquee properties such as Mar-a-Lago in Florida and Trump's penthouse apartment atop Manhattan's Trump Tower, James said. The lawsuit seeks to recoup at least $250 million of alleged improper gains. "Claiming that you have money that you do not have does not amount to the 'art of the deal,' it's the art of the steal," James told a news conference, alluding to Donald Trump's 1987 memoir. She called the "pattern of fraud and deception" used by Trump and the Trump Organization "astounding." She said Trump could try to move his company or borrow elsewhere, but that would not excuse him from his obligations in New York. "There cannot be different rules for different people in this country or state, and former presidents are no different," James said.

NY AG James said she is not interested in a settlement and has forwarded the results of the NY investigation to the US Department of Justice and the IRS.

Trump Organization CFO Allen Weisselberg will testify for the government next week in another lawsuit against Trump.
 

MamboDervish

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All are accused of financial fraud in a civil lawsuit by the State of New York.

NY AG James said she is not interested in a settlement and has forwarded the results of the NY investigation to the US Department of Justice and the IRS.

Trump Organization CFO Allen Weisselberg will testify for the government next week in another lawsuit against Trump.
Good! We don't live in a monarchy, and no one should be above the law.
 

Ug make hammer

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I agree with this. Settlements favor rich criminals over poor ones. They're only ever justified by "saving taxpayer money" and to hell with that.

It's not just because it's Trump. I want to hammer anyone who evades taxes, breaks corporate law, or defrauds shareholders. They should all do time.
 

gdgyva

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I agree with this. Settlements favor rich criminals over poor ones. They're only ever justified by "saving taxpayer money" and to hell with that.

It's not just because it's Trump. I want to hammer anyone who evades taxes, breaks corporate law, or defrauds shareholders. They should all do time.
You do understand this is a CIVIL suit

There is no possibility of him serving time for this

Now there is a REMOTE possibility that the IRS and or DOJ could bring criminal charges

But the IRS has spent so many man hours on Trump and found nothing worthwhile

I guess we will see what the DOJ does.....my guess is little to nothing
 

Ug make hammer

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You do understand this is a CIVIL suit

There is no possibility of him serving time for this

Bummer.

Now there is a REMOTE possibility that the IRS and or DOJ could bring criminal charges

But the IRS has spent so many man hours on Trump and found nothing worthwhile

Has the IRS spent time though? "I'm being audited now" is Trump's story, and it's six years later. Did the IRS even audit him, let alone intensively investigate? They don't say.

I guess we will see what the DOJ does.....my guess is little to nothing

On the basis of "bigger fish to fry" I suspect that is right. Getting 'the Don' on tax fraud is a last resort.
 

Rogue Valley

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Bummer.



Has the IRS spent time though? "I'm being audited now" is Trump's story, and it's six years later. Did the IRS even audit him, let alone intensively investigate? They don't say.



On the basis of "bigger fish to fry" I suspect that is right. Getting 'the Don' on tax fraud is a last resort.

I imagine the DoJ/IRS will look at the NY evidence with an eye towards possible tax/mortgage/wire fraud indictments.

Trump could eventually find himself between a rock and a hard place ... plead guilty and spare your children from prosecution or....

Tax evasion was good enough to nail Al Capone, another mobster ;)
 

Old 'N Chill

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I imagine the DoJ/IRS will look at the NY evidence with an eye towards possible tax/mortgage/wire fraud indictments.

Trump could eventually find himself between a rock and a hard place ... plead guilty and spare your children from prosecution or....

Tax evasion was good enough to nail Al Capone, another mobster ;)
I doubt he cares about sparing his spoiled brats from prosecution. I think he's out for himself and always has been. He's more the type to turn on them to try and save his own bloated ass.
 

gdgyva

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I imagine the DoJ/IRS will look at the NY evidence with an eye towards possible tax/mortgage/wire fraud indictments.

Trump could eventually find himself between a rock and a hard place ... plead guilty and spare your children from prosecution or....

Tax evasion was good enough to nail Al Capone, another mobster ;)
Just ponder that for a moment
do you really think the irs doesn’t check the President tax returns?
I know you all are dreaming of seeing the orange man in an orange jumpsuit in jail
i wouldn’t hold my breath waiting is all I am saying
 

Loulit01

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Just ponder that for a moment
do you really think the irs doesn’t check the President tax returns?
I know you all are dreaming of seeing the orange man in an orange jumpsuit in jail
i wouldn’t hold my breath waiting is all I am saying
Every president is under automatic audit by the IRS as long as he is in office. When Trump said he couldn't release his returns because they were being audited it was just another lie. Preceding presidents released their returns while audited.
 

Rogue Valley

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Just ponder that for a moment
do you really think the irs doesn’t check the President tax returns?
I know you all are dreaming of seeing the orange man in an orange jumpsuit in jail
i wouldn’t hold my breath waiting is all I am saying

Trump dodged propoerty taxes by under-valueing his properties.
 

gdgyva

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Every president is under automatic audit by the IRS as long as he is in office. When Trump said he couldn't release his returns because they were being audited it was just another lie. Preceding presidents released their returns while audited.
exactly

The IRS has gone through his returns with a fine tooth comb

Not much about his empire they are not aware of
 

gdgyva

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Trump dodged propoerty taxes by under-valueing his properties.
Property taxes are not set by the person

They are assessed by the county/state

You can appeal the process and amount but you have no other recourse on what your property is valued at/assessed at for tax purposes

So please tell me how him and his accountants under valuing his properties affecting his taxes?
 

Rogue Valley

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So please tell me how him and his accountants under valuing his properties affecting his taxes?

There are reasons why Donald Trump invoked the Fifth Amemdment 440 times when deposed by Tish James.

We'll know much more when the Trump Organization goes on trial for tax related charges in October.

Trump CFO Allen Weisselberg (plead guilty to tax evasion) will testify for the government.

I imagine there are very good reasons why AG James forwarded her investigation report about the Trump Org. to the DoJ and the IRS.
 
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Rogue Valley

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exactly

The IRS has gone through his returns with a fine tooth comb

Not much about his empire they are not aware of

That is supposition. We don't know that.
 

gdgyva

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There are reasons why Donald Trump invoked the Fifth Amemdment 440 times when deposed by Tish James.

We'll know much more when the Trump Organization goes on trial for tax related charges in October.

Trump CFO Allen Weisselberg (plead guilty to tax evasion) will testify for the government.

I imagine there are very good reasons why AG James forwarded her investigation report about the Trump Org. to the DoJ and the IRS.
maybe

but you are skirting the question

again....you said "Trump dodged propoerty taxes by under-valueing his properties."

That is impossible as the state/county assesses property taxes and what Trump and his accountants said they were worth doesnt mean a damn thing

They can as i said above appeal the process....but they cant underpay taxes on real property

It is IMPOSSIBLE

Now i have no idea what they cooked up in the books for loans....

I was just clarifying your error
 

Rogue Valley

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maybe

but you are skirting the question

again....you said "Trump dodged propoerty taxes by under-valueing his properties."

That is impossible as the state/county assesses property taxes and what Trump and his accountants said they were worth doesnt mean a damn thing

They can as i said above appeal the process....but they cant underpay taxes on real property

It is IMPOSSIBLE

Now i have no idea what they cooked up in the books for loans....

I was just clarifying your error

Are you a Trump lawyer? I didn't parse the James announcement word for word.

Here, do your own homework. The 222-page civil suit filed in Manhattan Supreme Court accuses the former president and his Trump Organization of fraudulently inflating the value of his prized assets – including his homes and golf courses – to allegedly obtain favorable loans and tax benefits.....



The 220 page New York civil vlawsuit is available in its entirety below.....


And.....

 
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