NEWNow you can listen to Fox News articles!
The New York Attorney General’s Office has filed a lawsuit against former President Donald Trump, several members of his family, as well as associates and companies, alleging “various acts of fraud and misrepresentation” in relation to the financial statements.
Attorney General Letitia James told a news conference Wednesday morning that Trump “inflated his net worth by billions of dollars” and that his sons Donald Jr., Ivanka and Eric helped him.
“Mr Trump and Trump Org have repeatedly and persistently manipulated the value of assets to induce banks to lend money to the Trump Organization on more favorable terms than would be available to the company,” James said, “to pay more taxes. low, to satisfy ongoing loan contracts and to induce insurers to provide insurance coverage for higher limits and lower premiums”.
Trump’s lawyer, Alina Habba, has rejected the allegations against the former president.
“Today’s filing is not focused on the facts or the law – rather, it is only focused on advancing the attorney general’s political agenda,” Habba said in a statement. “It is very clear that the Office of the Attorney General has exceeded its statutory authority by meddling in transactions where absolutely no wrongdoing has occurred. We are confident that our judicial system will not support this unchecked abuse of authority and we look forward to defending our client against each and every one of the Attorney General’s meritless claims.”
This is a developing story.
Source : www.foxnews.com