Former President Donald Trump has constantly been in the headlines, for both favorable and negative reasons. A lawsuit has been filed that led Trump to the forefront of the mainstream again. New York State just sued Donald Trump for $250 million, alleging financial fraud.
TMZ reports that Former President Donald Trump overstated his net worth by billions in order to secure better loans, and the state of New York is now suing him for $250 million, as well as penalties for his children.
The case was unveiled Wednesday morning by New York Attorney General Letitia James, who claimed that Trump is engaged in systematic deception for years to increase his real estate holdings.
“The number of grossly inflated asset values is staggering, affecting most if not all of the real estate holdings in any given year.”
The AG continued, “All told, Mr. Trump, the Trump Organization, and the other Defendants, as part of a repeated pattern and common scheme, derived more than 200 false and misleading valuations of assets” from 2011 through 2021.
According to the lawsuit, the lenders and financial institutions that did business with Trump based on those phony numbers were the victims of his alleged fraud. One example of Trump’s alleged asset inflation is his Mar-a-Lago residence. The suit claimed that the South Florida property “should have been valued at about $75 million, but it was valued at $739 million.”
The Empire State also wants Trump’s children to pay a price. The lawsuit seeks to prevent Donald Trump Jr., Ivanka Trump, and Eric Trump from serving as officials of any business in the state.
Trump’s attorney, Alina Habba, rejects any misconduct on the part of the former president and claimed the action is “neither focused on the facts nor the law – rather, it is solely focused on advancing the Attorney General’s political agenda.”
However, a conflict has erupted; let us wait and see how it settles. What are your thoughts on the lawsuit filed against the former president? Let us know in the comments. Stay tuned to Thirsty for more information.