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New York AG Sues Trump, Family Members For ‘Massive Financial Fraud’

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Letitia James and Donald Trump

New York Attorney General Letitia James on Wednesday formally accused former President Donald Trump of massive fraud in a civil lawsuit following a three-year inquiry into the finances of the family business.

During a press conference, James said Trump “falsely inflated his wealth by billions of dollars” to enrich himself and his family.

“There aren’t two sets of laws for people in this nation,” James said. “Former presidents must be held to the same standards as everyday Americans.”The Attorney General said she has referred some of the allegations to federal authorities, including the Manhattan U.S Attorney’s Office and the IRS.

During deposition Last month, Trump repeatedly invoked the Fifth Amendment. His attempt to shield himself from possible criminal jeopardy recalled his remarks during a 2016 campaign stop when he compared those who have invoked their constitutional right against self-incrimination to mobsters: “The mob takes the Fifth. If you’re innocent, why are you taking the Fifth Amendment?”

Trump is facing multiple legal challenges, including the seizure of tranches of classified documents from his Mar-a-Lago, Florida, estate, as part of a federal inquiry into the mishandling of government records and violations of the Espionage Act as well as obstruction of justice.

Separately, former Trump administration officials have been called to testify before a federal grand jury investigating attempts to overturn the 2020 election.

And in Atlanta, a local district attorney is conducting a wide-ranging criminal probe that includes Trump’s efforts to pressure Georgia officials to reverse President Joe Biden’s 2020 election victory there. So far, more than a dozen people, including Trump lawyer Rudy Giuliani, have been notified that they are targets of that investigation.

Watch the press conference below: