Former President Trump’s legal troubles are about to get much more complicated. New York Attorney General Letitia James has announced in a press conference that she will file a civil lawsuit against the former President, the Trump Organization, senior management, and all involved parties, according to ABC News.
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Just last week, it was reported that the Attorney General rejected the former President’s settlement offer. The lawsuit seeks to remove Trump himself and his children, Don Jr, Ivanka, and Eric, from their roles in the Trump Organization. It also wants a ban on Trump’s from future leadership roles in New York and requires them to repay $250 million in fines.
“For too long, powerful, wealthy people in this country have operated as if the rules do not apply to them. Donald Trump stands out as among the most egregious examples of this misconduct,” a prepared statement from James said.
This would cap off a three-year investigation in which James and her office have been investigating allegations the former President inflated the value of his golf courses, resorts, and office buildings to secure loans and other financial goods. The suit itself calls explicitly out Trump’s Florida estate, Mar-a-Lago.
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. The suit says that higher valuation was “based on the false premise that it was unrestricted property and could be developed for residential use even though Mr. Trump himself signed deeds donating his residential development rights and sharply restricting changes to the property.”
When James’ office brought Trump in for a deposition, the former President invoked his fifth amendment privilege 440 times. While Trump’s legal team will most certainly fight the civil suit, James is looking to stand her ground.
“For too long, powerful, wealthy people in this country have operated as if the rules do not apply to them. Donald Trump stands out as among the most egregious examples of this misconduct,” a prepared statement from James said.
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