New York Attorney General Letitia James filed a broad lawsuit Wednesday against Donald Trump and his family for allegedly submitting “false financial statements” to “defraud lenders.”
“Mr. Trump made known through Mr. Weisselberg that he wanted his net worth on the Statements to increase — a desire Mr. Weisselberg and others carried out year after year in their fraudulent preparation of the Statements,” the lawsuit said. “The scheme to inflate Mr. Trump’s net worth also remained consistent year after year.”
“As a result, using values for the golf course ranging between $123 million and $126.8 million based on employing the Fixed Asset Scheme is materially false and misleading; the golf course should have been valued at a much lower figure,” the attorney general’s suit said.
This is a developing story. Check back for updates.