Trump, children sued for fraud in New York
Donald Trump and family members lied to tax collectors, lenders and insurers for years in a scheme that routinely misstated the value of his properties to enrich themselves, according to a suit filed by New York's attorney general on Wednesday.
Top state prosecutor Letitia James said that with the help of his children and others at the Trump Organization, the former president provided fraudulent statements of his net worth and false asset valuations "to obtain and satisfy loans, get insurance benefits, and pay lower taxes."
James' office requested that Trump pay at least $250 million in penalties -- a sum she says he made from the fraud -- and that his family be banned from running businesses in the state. She also urged that Trump along with his children Donald Trump Jr, Eric Trump and Ivanka Trump be barred from purchasing property in the state for five years.
James said her office, which lacks authority to file criminal charges, was making a criminal referral to the US Justice Department as well as the Internal Revenue Service based on the three-year investigation.
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