BREAKING - New York AG Letitia James files $250M lawsuit against Trump for defrauding lenders

[kpete]

New York Attorney General Letitia James
It's not the Art of the Deal, It's the Art of the Steal.

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."
8m, others via @AaronKatersky https://abcnews.go.com/US/york-ag-let

Link to tweet

?s=20&t=nsFxmGztJJEjmFg63U1Hzg
https://ag.ny.gov/livestream

WHAT AG JAMES SEEKS:

-- Cancelation of Trump's business certificates, in move known as NY's "corporate death penalty."
-- A permanent ban on Trump and his kids serving on any corporate board.
-- A 5-yr ban on Trump buying commercial real estate in NY.
-- $250 mil in restitution.

Link to tweet

?s=20&t=nsFxmGztJJEjmFg63U1Hzg

New York Attorney General Letitia James (D) announced a lawsuit against Donald Trump, his company and three of his adult children over widespread fraud claims involving false financial statements related to the company.

The lawsuit will seek at least $250 million in penalties.

New York Times: “The 220-page lawsuit, filed in New York State Supreme Court, lays out in new and startling detail how, according to Ms. James, Mr. Trump’s annual financial statements were a compendium of lies. The statements, yearly records that include the company’s estimated value of his holdings and debts, wildly inflated the worth of nearly every one of his marquee properties — from Mar-a-Lago in Florida to Trump Tower and 40 Wall Street in Manhattan, according to the lawsuit.”

CNN: “James is seeking $250 million in allegedly ill-gotten funds and to permanently bar Trump and the children named in the lawsuit from serving as the director of a business registered in New York state. She is also seeking to cancel the Trump Organization’s corporate certificate, which, if granted by a judge, could effectively force the company to cease operations in New York state.”
https://politicalwire.com/2022/09/21/new-york-attorney-general-announce-lawsuit-against-trump/
https://www.nytimes.com/live/2022/09/21/nyregion/trump-fraud-lawsuit-letitia-james?smid=url-share#donald-trump-fraud-lawsuit-letitia-james

Link to tweet

https://abcnews.go.com/US/york-ag-letitia-james-files-250m-lawsuit-trump/story?id=90240332

[Scrivener7]

1. Sigh. $250M penalty for actions that made him a lot more than that.

Cost of doing the type of business he does.

I'm actually disappointed.

[3Hotdogs]

5. She is also referring her findings to I.R.S. and Southern District of N.Y. for possible criminal

charges.

[Scrivener7]

9. Possible. I'm so tired of "possible."

I hope this, at least, makes lenders call in some loans.

[Tadpole Raisin]

12. Can other reparations to the state or whoever be added to that?

I am tired of white collar criminals having to pay back only a fraction of their rip offs.

[tblue37]

15. But there's also this:

. . . and to permanently bar Trump and the children named in the lawsuit from serving as the director of a business registered in New York state. She is also seeking to cancel the Trump Organization’s corporate certificate, which, if granted by a judge, could effectively force the company to cease operations in New York state.”

[Scrivener7]

18. One would hope.

[Beachnutt]

2. Is defrauding lenders a crime ?

How about his taxes ?

Is there going to he any indictments of the crimes ?

[moonshinegnomie]

8. this was just a civil investigation

criminal charges will probably be forthcoming

[bluestarone]

11. I'm thinking ALL people classified as lenders, COULD

Also file lawsuits against Orange Jesus and his family? Could amount to HUGE monetary amounts!

[3Hotdogs]

20. It's a crime,

Only if you and I do it..

[Johonny]

24. I assume the lenders will sue as well

[LetMyPeopleVote]

3. This will be fun to watch

Link to tweet

[herding cats]

4. This is going to have an interesting impact on the debt he has coming due. nt

[Wingus Dingus]

6. That's good, but I'm interested in locking him up.

[gldstwmn]

7. This is why they moved to Florida.

[Tadpole Raisin]

10. Such a shame Bragg couldn't find enough evidence...

I’ll forgive him if he is able to and does resurrect his investigation and just strategically stopped it to avoid conflicts with the civil suit. Otherwise he remains a wuss!

Wasn’t there an ability to extend the statute of limitations 5 years or has that come and gone?

Go Tish!!

[Scrivener7]

14. I don't think Pomerantz would have made such a public and irate statement if there

had been any possibility of resurrecting it. That one is gone.

I give Tish credit. She's the only one to bring it over the line so far. Hopefully there will be ramifications among his lenders and this will have larger effects than just the $250 million.

[JI7]

26. Bragg and Vance were both bought off . It's things like this which make it hard to go after him

You have everything but some scumbag is willing to sell out for their own gain .

[herding cats]

13. Oh, interesting. She's referring it to the feds.

Link to tweet

Sending evidence to feds:
>>James is referring her findings to federal prosecutors in Manhattan, who could possibly open a criminal investigation into bank fraud, according to a footnote in the lawsuit.

[Scrivener7]

16. That is good, though they have had decades of opportunities to do that before now. There

is no reason why they would have had to wait for her referral.

[Roisin Ni Fiachra]

17. YAY!!!

[Cartoonist]

19. No big deal

He can milk his cult for that amount in a week.
So they kick him out of New York. He already moved to Florida.
A criminal referral? Yawn.

[Hermit-The-Prog]

22. Big deal: he's already hiring shopping mall lawyers for current court battles.

His cult won't be able to keep up. The billionaires in the background won't keep propping him up. Even the Fascist Oligarch eXtremists propaganda network has signaled it's done with him.

[Johonny]

23. I assume this could open up a flood gate and more civil suits will result

As lenders pile on trying to get their money out of these organizations before their are no assets remaining. They owe billions.

[Blue Owl]

25. Dump's looking for another special master