Donald Trump, kids and Company Sued by NY AG Letitia James sues

New York Attorney General Letitia James on Wednesday filed a lawsuit worth $250 million against the former president Donald Trump, his kids Eric, Ivanka and Donald Trump Jr. and Trump Organization Trump Organization -- alleging "staggering" fraud in the family's real estate business. The suit of 220-pages filed the Manhattan Supreme Court is the culmination of a three-year investigation conducted by the office of the Democratic Party to determine if there was evidence that the Donald Trump Org.'s wealth was exaggerated to meet tax, insurance, and loan purpose. "Donald Trump has falsely increased the value of his assets by billions in order to gain unjustly and evade the system, thus stealing from all of us." James said at a news conference to announce the lawsuit. [caption id="attachment_42593" align="aligncenter" width="2000"] New York Attorney General Letitia James on Wednesday filed suit against former President Donald Trump, his kids Eric, Ivanka and Donald Trump Jr., and the Trump Organization — alleging fraud in the family real estate business, court records show.[/caption] "Claiming that you have money you don't actually have doesn't amount to "The Art of Deal'. It's an art form of theft" she explained by referring to Donald Trump's book from 1987. The document, which includes the former Trump Chief Financial Officer of the Organization Allen Weisselberg, alleges the defendants "engaged in various fraudulent and false representations when preparing the Mr. Trump's annual reports of financial position ... which cover at minimum the years from 2011 through 2021." [caption id="attachment_42595" align="aligncenter" width="1535"] The AG claims Trump, three of his kids and company employees made fraudulent representations about Trump’s financial condition.[/caption] James began an inquiry into the business in the year 2019 following Trump's former personal attorney Michael Cohen told Congress that Trump overstated the company's assets for tax, insurance , and purpose of loan. The AG The AG brought suit against the Trump Organization in 2020 in 2020, alleging that she was being spied on by the Trump Organization and Eric Trump were obstructing her investigation. Trump and two of his three oldest children, Ivanka and Donald Trump Jr., have joined the matter that the government was able to force subpoenas for documents and depositions from family members as well as employees of the company. Three of his children have held executive positions within the company. [caption id="attachment_42596" align="aligncenter" width="1234"] Ex-CFO Allen Weisselberg, who pleaded guilty to fraud last month in a criminal case, was also named in the suit.[/caption] Trump, Ivanka and Don Jr. have battled to appear for depositions , but they ultimately ended up losing the court case, and Trump appeared in court in the last monthat the deposition of the AG in which Trump was unable to answer questions in defense of the Fifth Amendment rights. The lawsuit filed on Wednesday came following the AG has rejected at least one of the offers made by Trump's team to settle the matter. "We have rejected the settlement proposals they made, and our doors remain wide open" James said Wednesday. Her office will also refer the matter for investigation to Internal Revenue Service and to federal prosecutors within the Southern District of New York.