Donald Trump and his three children have been sued for fraud, following an investigation conducted in New York against the former US president’s family business.
The lawsuit alleges that the Trump Organization committed “multiple” acts of fraud between 2011 and 2021.
New York Attorney General Letitia James has asked the court to bar Trump and his children from holding leadership positions in any business in New York.
The Trump Organization denies any wrongdoing.
Trump and the Trump Organization are being accused of not properly declaring the value of real estate so that banks would lend to them on more favorable terms.
“With the help of his children and principals in the Trump Organization, Donald Trump falsely inflated his net worth to billions of dollars in order to unjustly enrich himself and defraud the system,” prosecutor James said in a statement.
James, who is the lead attorney in New York, is seeking to bar the Trump Organization from being involved in any future transactions in the New York real estate sector.
She added that she will refer several criminal charges against Trump to federal prosecutors at the Internal Revenue Service.
In addition to Donald Trump, James said that his three children – Donald Trump Jr, Ivanka and Eric – are allegedly complicit in the acts of fraud.
The announcement comes after James has rejected at least one offer to end the long-running investigation into Trump’s company’s business practices.
The Attorney General’s Office said James is aiming to recover about $250 million, which prosecutor James says was obtained as a result of the fraud.