The New York Prosecutor’s Office sued this Wednesday the former president of the United States, Donald Trump (2017-2021)his three oldest children, and his company, the Trump Organization, for fraudulently obtaining loans, insurance benefits, and paying lower taxes.
The New York prosecutor Letitia Jamessaid that Trump committed “tax fraud” between 2011 and 2021 and that the state is seeking compensation of 250 million dollars, a veto of the Trump businesses and a restriction on their purchase of commercial real estate in the next five years, he indicated in his Twitter.
“We found that Trump, his family, and the Trump Organization used fraudulent and misleading asset valuations some 200 times over 10 years in their annual financial statements. Those statements were used to obtain hundreds of millions of dollars in loans and insurance coverage,” he explained.
The prosecutor detailed in a press release that the former US president was helped by his children Donald Jr., Eric, Ivanka and senior executives of his company to “illegally inflate and deflate his net worth in billions (of dollars)” in order to get rich and “lie to the system”.
“These acts of fraud and misrepresentation … were committed by senior management of the Trump Organization as part of a common effort for each annual (tax) Statement and were approved at the highest levels of the Trump Organization, including the Mr. Trump himself, ”says the letter.
The family business of the former president supposedly induced the banks to lend him money under more favorable conditions than he would have achieved, and the insurers to give him greater coverage for lower fees, in addition to obtaining tax advantages, according to the note.
The accusations, which James took to the state Supreme Court, are the result of an extensive civil investigation that has lasted three years, with a legal battle in which Trump has tried to hinder and delay the requirements for declaration or delivery of documents. .
At the beginning of August, he appeared before the prosecutor to testify in this matter by order of a judge but he availed himself of the Fifth Amendment of the Constitution, which allows an investigated person to remain silent to avoid incriminating himself.
Apart from filing the lawsuit, the prosecutor has recommended opening criminal proceedings to the Department of Justice and the federal tax collection service, which seems to cast a shadow over the prospects of a political comeback for Trump, who could aspire to a new presidential candidacy in 2024.
Trump denounced that this lawsuit is a “new witch hunt” against him. “Another witch hunt by a racist attorney general, Letitia James, who failed to run for governor and garnered almost no public support”said the former president on his social network Truth Social.
(With information from EFE and AFP)
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