New York AG Letitia James Officially Files Lawsuit Against Donald Trump and His Adult Children For Fraud

Donald Trump, who is facing various investigations from his role in trying to overturn the elections in Georgia to the January 6 investigations to his most recent case about mishandling classified documents, is facing yet another legal battle. This time, Trump and his adult children are facing a lawsuit from the state of New York.

New York State Attorney General Letitia James filed a sweeping lawsuit against Donald Trump last Wednesday. Also named are his children Donald Trump Jr., Eric Trump, and Ivanka Trump, as well as former Trump Organization CFO Allen Weisselberg and Trump Organization executive Jeff McConney.

This is the culmination of a two-year investigation into the Trump Organization. The lawsuit has over 200 pages and alleged that all aspects of the Trump business, from properties to golf courses, engaged in fraud.

CNN reported that the lawsuit claimed that the Trump Organization "deceived lenders, insurers and tax authorities by inflating the value of his properties using misleading appraisals."

READ MORE: Trump Tax Fraud Case: Trump Organization CFO Allen Weisselberg Pleads Guilty, Willing to Testify vs Trump

Trump Organization Had Billions of Dollars in Falsified Net Worth

The AG's lawsuit alleges that the company was involved in over a decade of deception, including having billions of dollars in falsified net worth. This is all part of Trump's effort to minimize his companies' tax payments while also winning favorable terms with banks and insurance companies.

Politico reported that the lawsuit is seeking $250 million in allegedly illegal profits which the scheme profited from. It also seeks to ban former President Trump, Don Junior, Eric, and Ivanka Trump from participating in any real estate transactions for five years.

The lawsuit also sought to ban former President Trump and his family members from being involved in his business enterprises. This includes barring them from serving as directors and officers in any New York-based corporation or any business licensed in the state.

According to The Guardian, the lawsuit stated that Trump inflated the value of 23 properties, including the Mar-a-Lago in Florida, Trump Tower in New York, and the Trump International Hotel in Washington, DC. She gave Mar-a-Lago as an example and stated that it was "valued as high as $739 million when it should have been closer to $75m."

As for Trump Tower, she said that Trump listed that the building spanned over 30,000 sq ft, which raised its value. However, the AG pointed out that, in reality, it had an area of less than 11,000 sq ft., and Donald Trump was well aware of this fact.

Donald Trump's Lawyer Pushes Back

Following the announcement of the lawsuit, Trump lawyer Alina Habba stated that it did not focus on the facts or the law but was just focused solely on AG James' s political agenda. She accused James of abusing her authority "by prying into transactions where absolutely no wrongdoing has taken place."

She also added that the lawsuit was "meritless." As for the Trumps, Don Jr. tweeted that the investigation into their company was yet another witch hunt.

However, the New York AG also pushed back and stated on Wednesday, "I want to be clear. White-collar financial crime is not a victimless crime."

This article is owned by Latin Post.

Written by: Rick Martin

WATCH: NY A.G. Letitia James Sues Trump, Inner Circle Over Business Fraud - NBC News