Donald Trump, his 3 children for decade-long fraud to cheat banks, insurer

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Former US President and business tycoon Donald Trump and three of his adult children were sued on Wednesday by New York state’s attorney general

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Letitia James, who accused them of massive fraud by overvaluing the family’s businesses, assets and net worth by lying to top banks and insurers.

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The lawsuit, which was filed in a New York state court in Manhattan, accused the Trump Organization of cheating and fraud in their annual financial statements over a decade from 2011 to 2021

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The Trump Organization — their family firm that looks after hotels, golf courses and other properties globally — was named as defendant. 

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The former US President’s grown-up children– his daughter Ivanka Trump and sons Donald Trump Jr. and Eric Trump are also under the scanner and have been named in the legal case. 

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Attorney General James, a Democrat herself, said that her office had found more than 200 instances of false asset valuations, and the complaint also mentioned 23 assets that she called “grossly and fraudulently inflated.”