News That Matters

Tag: Letitia James

New York attorney general sues Trump and his company — breaking it down
Business

New York attorney general sues Trump and his company — breaking it down

The Trumps and their company are accused in a 221-page civil complaint filed Wednesday of engaging in a yearslong scheme to enrich themselves by inflating the values of a wide swath of properties, stretching across their international real estate empire. The complaint accuses the company of more than 200 instances of false asset valuations, described as being derived from "objectively false assumptions and blatantly improper methodologies with the intent and purpose of falsely and fraudulently inflating Mr. Trump's net worth to obtain beneficial financial terms from lenders and insurers."  "The number of grossly inflated asset values is staggering, affecting most if not all of the real estate holdings in any given year," New York State Attorney General Letitia James' office wrot...