Letitia James seeks legal penalties against Trump in $250M lawsuit.
New York Attorney General Seeks Legal Sanctions Against Donald Trump and Co-Defendants
In a bold move, New York Attorney General Letitia James has requested legal sanctions against former President Donald Trump and his co-defendants, who are embroiled in a $250 million lawsuit tied to Trump’s organization.
James, determined to hold Trump accountable, filed court documents on Tuesday, asking a judge to impose sanctions amounting to $20,000. She argued that despite the courts rejecting the same legal argument three times and labeling it as ”frivolous,” the former president has persistently made the same claim five times. Two of these claims are still pending as they were filed just last month.
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James’s office emphasized that the court has the power to impose sanctions on any party or lawyer involved in a civil action who engages in “frivolous conduct.”
The crux of Trump’s legal argument, which his team attempted to use, is that the district attorney’s office lacks the standing or capacity to bring claims alleging that Trump and his colleagues “grossly” inflated his net worth by billions of dollars.
Furthermore, James accused the Trump Organization of deceiving lenders and others through false or misleading financial statements. The alleged fraudulent activities date back to 2011, and James filed the lawsuit last year.
“Since at least 2011, Defendants and others working on their behalf at the Trump Organization have falsely inflated by billions of dollars the value of many of the assets listed on Donald J. Trump’s annual statement of financial condition (‘SFC’), and hence his overall net worth for each of these years,” a filing last week stated.
“Mr. Trump, and in some years the trustees of his revocable trust, submitted these grossly inflated SFCs to banks and insurers to secure and maintain loans and insurance on more favorable terms, reaping hundreds of millions of dollars in ill-gotten savings and profits,” it added.
James is seeking $250 million in damages for the overall case. However, Trump’s attorneys vehemently deny the charges and any wrongdoing on the part of the former president. The sanction request also includes Trump’s two oldest sons, Donald Trump Jr. and Eric Trump, along with other prominent figures in the family’s company.
Despite a couple of unsuccessful attempts to dismiss the case, a trial for the civil lawsuit is set to commence on October 2.
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