Donald Trump: Former US President and Republican frontrunner for 2024 elections Donald Trump has denied all claims of fraud filed against him. The State Attorney of New York filed lawsuit against Donald Trump and his family business for “staggering” fraud. The claims against his daughter have been dismissed by the Appellate Division in Manhattan.
In September last year, Attorney General Letitia James filed civil case against Trump accusing him of lying about his asset values and net worth from 2011 to 2021. The assets include Mar-a-Lago estate in Florida and Trump Tower penthouse in Manhattan. As per accusations fraud was committed in order to receive better terms from lenders and insurers.
Lawsuit ruling
The lawsuit is posited to receive $250 million in damages from Donald Trump and his sons Donald Jr and Eric and others. The lawsuit seeks suspension of all operations of Trump organization in state of New York.
In a 5-0 decision, the Appellate Division in Manhattan has given Letitia James power to conduct investigations for alleged wrongdoings conducted over a long period of time. The appellate has also stated that statutes of limitations prevented James rom suing over claims that were raised before July 13 2014, or Feb. 6 2016. It was also observed that case against Ivanka Trump should be dismissed as claims were filed late and she was not part of organization at relevant time.
Proceedings of October trial
The case has been returned to Justice Arthur Engoron of the State Supreme Court in Manhattan so that it can determine which part of case will procced further.
Following Trumps questioning in April under oath, a spokesperson for James said “There is a mountain of evidence that shows Mr Trump and the Trump Organization falsely and fraudulently valued multiple assets and misrepresented those values to financial institutions for significant economic gain.”
James team has stated that Trump’s fraud brings out malpractices in banking, real estate and insurance. The June 6 proceedings brought questions over nature of transactions.
Trump’s lawyer has stated the decision is “the first step” toward ending the case “The correct application of the law will now limit appropriately the previously unlimited reach of the attorney general.We remain confident that once all the real facts are known, there will be no doubt President Trump has built an extraordinarily successful business empire.”
A 38-count US Department of Justice indictment suggests that Trump mishandled classified documents while in office as POTUS.
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