Trumps could face $250 million fine and ban on doing business in New York in fraud lawsuit

Published by
Peter Kavinsky

Donald Trump and his family business are at serious legal and financial risk after New York Attorney General Letitia James filed a $250 million civil lawsuit on Wednesday accusing the Trump Organization of serial lying about the value of its assets to creditors and insurers for financial benefit. .

Speaking from his New York City office on Sept. 21, James said the twice impeached former president “deceived us all” by inflating his net worth “to enrich himself unjustly and deceive the system.”

The lawsuit, the result of an investigation that began in 2018, accuses the former president, his three eldest children and the Trump Organization of violating state laws and suggests that the discovered conduct also goes against federal statutes.

If James succeeds, the lawsuit could damage Trump’s business empire in New York and beyond.

The lawsuit seeks to recover $250 million in lost state revenue and fines.

The attorney general is also looking to appoint an independent monitor to oversee the Trump Organization’s finances and wants to oust the Trumps from their positions in the organization.

But the suit goes even further than that. The attorney general is asking that Trump, as well as his children Donald Trump Jr, Ivanka Trump and Eric Trump, be barred from serving as executives or directors at a New York company, effectively expelling them from the state.

The suit also calls for the Trump Organization to be barred from buying any property in New York for the next five years, even if it uses legal maneuvering to reconstitute itself as a new entity.

Perhaps the deepest punishments can come from referrals.

Mrs. James, who does not have the authority to file a criminal case against the Trumps, has forwarded his findings to the IRS, the US Attorney for the Southern District of New York and state prosecutors.

The US Attorney’s Office said in a statement on Monday that it was aware of the shipment and would not comment further.

Meanwhile, Manhattan District Attorney Alvin Bragg, whose office would bring state indictments against Trump under the referral, told the New York Times, “Our criminal investigation into former President Donald J. Trump, the Trump Organization and their leadership is active and ongoing.”

In a statement, the Trump Organization said the New York AG lawsuit was politically motivated and an “abominable abuse of power, waste of valuable resources and tens of millions of taxpayer dollars.”

Trump’s attorney, Alina Habba, told Schedules the claims in the lawsuit are “without merit”.

Peter Kavinsky

Peter Kavinsky is the Executive Editor at

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