NEW YORK (WBAP/KLIF News ) – New York Attorney General Letitia James has filed a civil fraud lawsuit against former President Donald Trump, his children Donald Junior, Ivanka and Eric and some business associates.
Two of Trump’s longtime company executives Allen Weisselberg and Jeffrey McConney have also beened named in the lawsuit.
The suit alleges business fraud involving some of their most prized assets, including properties in Manhattan, Chicago and Washington D.C.
At a Tuesday morning press conference, James laid out some of the alleged real estate schemes Trump’s company took part in.
“In one case, a professional appraiser valued those 12 units at around $750,000 noting that the rent-stabilized unit can not be marketed as individual units for sale because the current tenets can not be forced to leave. Despite this professional evaluation and Mr. Trump knowing full well the legal restrictions the 12 rent-stabilized units were valued, he valued them collectively on his statements at $49 million dollars. That’s about 65 times the appraised evaluation,” she said.
In a statement, the former president’s attorney Alina Habba responded to the lawsuit and said in part:
“Today’s filing is neither focused on the facts nor the law – rather, it is solely focused on advancing the Attorney General’s political agenda,” she said.
The lawsuit seeks $250 million in damages.
The NY AG’s office has been investigating Trump’s businesses for allegations of fraudulent of misleading valuations for its properties for more than three years.
Copyright 2021. WBAP/KLIF News. All Rights Reserved. The Associated Press contributed to this report.