New York attorney-general Letitia James on Wednesday sued Donald Trump and three of his adult children for what she called an “astounding” fraud to falsely inflate the value of assets held by their family business, the Trump Organization, for their own financial gain.
James is seeking penalties that, if imposed, could effectively end the former president’s real estate career and would imperil the Trump Organization itself, which was started by his father in Queens in the 1920s.
These include banning Trump and his children Donald Jr, Ivanka and Eric from ever again serving as officers of a New York-registered company.
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