New York Attorney General Letitia James files $250 million civil lawsuit against former President Donald Trump, others

New York Attorney General Letitia James filed a $250 million civil lawsuit in the State Supreme Court in Manhattan on Wednesday. She accused Trump and his family of "numerous acts of fraud and misrepresentations," cheating lenders and enriching the net worth of the former president by billions of dollars.

What does the suit seek?

The lawsuit filed by the New York Attorney General seeks an order prohibiting any Trump family members from being at the helm of a company in New York State, as well as a $250 million compensation.

What are the allegations and claims in the suit?

Some of the claims and accusations in the lawsuit allege that:


Trump, his family, and the corporation used inaccurate asset valuations. The suit names Mar-a-Lago, the Trump Tower apartment, Trump Park apartments and Trump Turnberry (in Scotland) as examples.

The family obtained loans from banks for the “Trump Organization” on terms that were more favorable than they should have been to Trump’s net worth, as stated in the financial statements. It was inflated.

The suit alleges that "the magnitude of financial benefit derived by Trump and the Trump Organization utilizing these fraudulent and misleading submissions was considerable."

Who is named in the lawsuit?

The lawsuit names former President Donald Trump, three of his children, his company, and two company executives; Jeff McConney and Allan Weisselberg.

What is Trump’s reaction to the lawsuit?

Trump and his team have denied any wrongdoing and have accused the Attorney General of using the lawsuit to further her political agenda. Trump’s attorney said, “It is abundantly clear that the Attorney General's Office has exceeded its statutory authority by prying into transactions where absolutely no wrongdoing has taken place. We are confident that our judicial system will not stand for this unchecked abuse of authority, and we look forward to defending our client against every one of the Attorney General's meritless claims."

When did the Attorney General’s investigation begin?

The investigation by the Attorney General began in March 2019 when Michael Cohen, Trump’s former lawyer, testified to Trump’s financial statements being inflated to obtain favorable insurance coverage and loans while certain asset values were deflated to reduce taxes.