{"id":1653380,"date":"2022-09-22T12:43:08","date_gmt":"2022-09-22T16:43:08","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1653380"},"modified":"2022-09-22T12:49:58","modified_gmt":"2022-09-22T16:49:58","slug":"top-five-takeaways-this-is-what-we-know-about-letitia-jamess-fraud-lawsuit-against-trump","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/top-five-takeaways-this-is-what-we-know-about-letitia-jamess-fraud-lawsuit-against-trump\/","title":{"rendered":"Top Five Takeaways: This Is What We Know About Letitia James\u2019s Fraud Lawsuit Against Trump"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftop-five-takeaways-this-is-what-we-know-about-letitia-jamess-fraud-lawsuit-against-trump%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1653380&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<div class=\"RichTextArticleBody\">\n<div class=\"RichTextArticleBody-body\">\n<div class=\"Enhancement\">\n<div class=\"Enhancement-item\"><\/div>\n<\/p><\/div>\n<p><span class=\"ArticlePage-articleBody-firstLetter\">N<\/span>ew York Attorney General Letitia James <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/news\/new-york-attorney-general-teases-major-announcement\" target=\"_blank\" rel=\"noopener\">unveiled a civil fraud lawsuit<\/a> against Donald Trump and his three adult children on Wednesday, marking <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/courts\/new-york-attorney-general-may-sue-trump-in-fraud-lawsuit\" target=\"_blank\" rel=\"noopener\">the latest escalation<\/a> of the yearslong investigation into the former president\u2019s financial dealings in the state. <\/p>\n<p><a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/news\/justice\/letitia-james-fraud-lawsuit-trump-children\" target=\"_blank\" rel=\"noopener\">In her lawsuit<\/a>, James is seeking a minimum punishment of $250 million for Trump\u2019s alleged fraudulent business practices, pointing to evidence her office has uncovered that proves the Trump Organization violated several state laws by manipulating its asset valuations. <\/p>\n<p><b><a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/news\/justice\/letitia-james-fraud-lawsuit-trump-children\" target=\"_blank\" rel=\"noopener\">\u2018ART OF THE STEAL\u2019: NEW YORK AG LETITIA JAMES UNVEILS FRAUD LAWSUIT AGAINST TRUMP AND CHILDREN<\/a><\/b> <\/p>\n<p>&#8220;This investigation revealed that Donald Trump engaged in years of illegal conduct to inflate his net worth &#8230; to deceive banks and the people of the great state of New York,\u201d James said Wednesday. \u201cClaiming you have money that you do not have does not amount to the art of the deal. It\u2019s the art of the steal.\u201d <\/p>\n<p>Here\u2019s what<a class=\"Link\" href=\"https:\/\/ag.ny.gov\/sites\/default\/files\/tto_complaint.pdf\" target=\"_blank\" rel=\"noopener\"> the lawsuit says<\/a>: <\/p>\n<p><b>Trump embellished worth of \u2018most if not all\u2019 properties in more than 200 instances<\/b> <\/p>\n<p>During its yearslong investigation, the New York Attorney General\u2019s Office uncovered evidence of Trump manipulating his company\u2019s asset valuations in more than 200 instances over a 10-year period, according to James. <\/p>\n<p>These fraudulent bank statements were given to banks and other financial entities considering entering into business with the company and included values that were purposely falsified, according to the suit. However, these documents were &#8220;personally certified as accurate by Mr. Trump or by one of his trustees,\u201d James said. <\/p>\n<p>&#8220;The pattern of fraud and deception that was used by Mr. Trump and the Trump Organization for their own financial benefit is astounding,&#8221; James said. <\/p>\n<p>In some cases, the Trump Organization allegedly relied on using two sets of bookkeeping records: one that was accurate but kept internally and one that listed the company\u2019s assets as considerably higher than they actually were. These misrepresentations were used on multiple of Trump\u2019s properties \u201cin any given year, including several of Trump\u2019s highest-profile business ventures,\u201d James said. <\/p>\n<p><b>Financial statements also misleading in \u2018presentation\u2019\u00a0<\/b> <\/p>\n<p>Not only was the content of Trump\u2019s financial statements factually inaccurate, but the company also allegedly falsely claimed its reports were compiled in collaboration with outside professionals. <\/p>\n<p>Despite claiming the reports were completed with third parties, James said her office\u2019s investigation uncovered that Trump repeatedly ignored advice from external entities. For example, the Trump Organization listed a commercial property on 40 Wall Street as being valued at $524 million in a 2011 statement, despite bank appraisals pegging its value at $200 million in August 2010. <\/p>\n<p>\u201cTo the extent Mr. Trump and the Trump Organization received any advice from outside professionals that had any bearing on how to approach valuing the assets, they routinely ignored or contradicted such advice,\u201d the lawsuit stated. <\/p>\n<p><b>Trump\u2019s adult children also played a role<\/b> <\/p>\n<p>James\u2019s lawsuit also names Trump\u2019s three adult children \u2014 Donald Jr., Eric, and Ivanka Trump \u2014 as the three have each been high-ranking executives in the company at some point. <\/p>\n<p>The lawsuit specifically points to actions by all three, noting the Trump Organization\u2019s fraudulent dealings \u201crequired\u201d their \u201cparticipation.\u201d For Donald Trump Jr., he\u2019s accused of preparing the company\u2019s financial statements every year from 2016 until the present, certifying the accuracy of such reports in 2017, 2018, and 2019. <\/p>\n<p>Ivanka Trump was accused of also compiling financial reports to create presentations for the General Services Administration in 2011 as well as \u201cto facilitate loans from Deutsche Bank in 2012 and 2013,\u201d according to the lawsuit. Eric Trump also took part in certifying financial statements that were \u201cfalse in almost every particular,\u201d the lawsuit stated. <\/p>\n<p><b>What punishments Trump could face<\/b> <\/p>\n<p>If successful, James\u2019s lawsuit would force the Trump Organization to cease its operations in New York and be barred from &#8220;entering into any New York State commercial real estate acquisition or from applying for loans&#8221; in New York for the next five years. <\/p>\n<p>The lawsuit would also bar Trump and his three adult children from holding a position as an officer or director \u201cin any corporation\u201d in the state. Additionally, the suit would replace the trustees of the Donald J. Trump Revocable Trust and instead appoint an outside counsel to oversee the company\u2019s financial dealings over the next five years. <\/p>\n<p><b>What next?\u00a0<\/b> <\/p>\n<p>James\u2019s lawsuit was filed in civil court, meaning he won\u2019t face criminal charges \u2014 at least not yet. <\/p>\n<p><b><a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\" target=\"_blank\" rel=\"noopener\">CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/a><\/b> <\/p>\n<p>However, the New York attorney general outlined a number of state criminal laws she accuses the former president of violating that could lead to further investigations. <\/p>\n<p>However, the process is expected to take months, if not years, to go through New York\u2019s legal system before it reaches trial. The former president could still reach a settlement in the case, although previous attempts to reach a settlement over the last several months have been unsuccessful.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>New York Attorney General Letitia James unveiled a civil fraud lawsuit against Donald Trump and his three adult children on Wednesday, marking the<\/p>\n","protected":false},"author":1,"featured_media":1653392,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1653380","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1653380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1653380"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1653380\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1653392"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1653380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1653380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1653380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}