New York sues Donald Trump, company and family members over widespread fraud claims, seeks at least $250 million in penalties

Former U.S. president Donald Trump speaks in support of candidates Doug Mastriano and Mehmet Oz during a rally in Wilkes-Barre, Pennsylvania, September 3, 2022.

Donald Trump, the Trump Organization, and three of his adult children were sued by the New York Attorney General.

The lawsuit seeks at least $250 million in damages and seeks to bar Trump, Donald Trump Jr., Eric Trump, and Ivanka Trump from being officers of a company in New York.

James said she was referring evidence from the three-year investigation to federal prosecutors in Manhattan, as well as to the IRS, saying she believed it showed violations of federal criminal laws.

James accused Trump of inflating his net worth by billions of dollars.

James said that Trump overstated the values of his assets in order to get more favorable loan and insurance terms for his company.

Most if not all of the real estate holdings are affected by the number of grossly inflated asset values.

More than 200 false and misleading valuations of assets were included in the 11 Statements covering 2011.

According to the complaint, Trump's personal financial statements were fraudulent and misleading.

James said that Trump had lied about the size of his apartment in New York.

According to the suit, Trump valued his Mar-a-Lago club property in Palm Beach, Florida, on the false premise that it sat on unrestricted property and could be developed for residential use, even though he knew that it was subject to a slew of tight restrictions.

The suit says that Mar-a-Lago generated less than 25 million dollars a year. It should have been worth about $75 million.

The filing is not focused on the facts or the law, but on furthering the Attorney General's political agenda.

Habba said that the Attorney General's Office has overstepped its authority by snooping into transactions.

The judicial system will not stand for this abuse of authority, and we look forward to defending our client against all of the Attorney General's meritless claims.

More than 65 witnesses were interviewed, and millions of documents were reviewed, according to the lawsuit.

This is where you can read the lawsuit against Trump.

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