New York Attorney General Letitia James sued the Trump family for $250 million Wednesday for allegedly “defrauding” business partners by submitting false financial records and statements.
“These acts of fraud and misrepresentation were similar in nature, were committed by upper management at the Trump Organization as part of a common endeavor for each annual Statement, and were approved at the highest levels of the Trump Organization — including by Mr. Trump himself,” the lawsuit states.
Breaking news: Trump and 3 of his children sued for business fraud by New York attorney general https://t.co/UuqTWUbGbx pic.twitter.com/YPQPEwDHxW
— The Washington Post (@washingtonpost) September 21, 2022
Trump and his children, Donald Trump Jr., Eric Trump and Ivanka Trump, are named as defendants in the case.
This is a developing story…
Do people even understand what is going on with this case? Essentially, they used two sets of accounting books… one that inflated the value of the organization and one that deflated the value. Why? Well, you inflate your worth to gain favorable loan terms from financial institutions and deflate your worth to pay less in taxes. That’s right, tax evasion… the same thing al capone was busted for. His famous quote, “They can’t collect legal taxes from illegal money”. He got 11 years in prison. Hopefully, everyone in the trump crime family gets the same sentence. Tax money pays for roads and schools and fire departments, etc. Tax evasion is the same as stealing from your fellow citizens.