BREAKING: New York AG Tish James on $250 million fraud lawsuit against Pres. Trump and his organization: 'He did this with the help of the other defendants: his children.'
September 21, 2022, 12:13 PMFormer President Donald Trump speaks at a Save America Rally to support Republican candidates running for state and federal offices, Sept. 17, 2022 in Youngstown, Ohio.
"We found that Mr, Trump, his children, and the corporation used more than 200 false asset valuations over a ten year period," James said at a press conference announcing the charges.Among other allegations, the suit claims that the former president's Florida estate and golf resort, Mar-a-Lago, was valued as high as $739 million, but should have been valued at around one-tenth that amount, at $75 million.
Through "persistent and repeated business fraud," the Trumps convinced banks to lend money to the Trump Organization on more favorable terms than deserved, according to the lawsuit, which named the former president, three of his adult children, the company, and two of its executives, Allan Weisselberg and Jeff McConney.
Trump has denied wrongdoing and has called the investigation a politically motivated "witch hunt" by an attorney general he has called "racist." James, who is black,from the Trump Organization last month to resolve the matter, sources told ABC News.
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