NEW YORK (PIX11) — New York Attorney General Letitia James is suing former President Donald Trump and three of his adult children, alleging business fraud, the politician announced Wednesday morning.
James said Trump, Donald Trump Jr., Eric Trump, Ivanka Trump, and his company falsely inflated his net worth by billions of dollars to get banks to give him favorable interest rates. James is seeking to bar the former president and his children from ever running a company in New York again. She also wants Trump to pay back the $250 million he received.
“This investigation revealed that Donald Trump engaged in years of illegal conduct to inflate his net worth, to deceive banks and the people of the great state of New York,” James said at the news conference. “Claiming 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 said there are 200 examples of alleged fraud in the complaint, including declaring his home was three times bigger than it was. She is also referring the matter to the federal authorities to conduct a criminal investigation.
The alleged criminal violations are falsifying business records, issuing false financial statements, insurance fraud, conspiracy, and bank fraud, James said. The case will also be referred to the Internal Revenue Service.
“They all should be held accountable,” James said. “No one is above the law.”
Last month, Trump invoked his Fifth Amendment right not to answer questions during a deposition related to James’ investigation. In May, James’ office said that it was nearing the end of its probe and that investigators had amassed substantial evidence that could support legal action against Trump, his company, or both. The Republican’s deposition was one of the few remaining missing pieces, the attorney general’s office said.