Donald Trump, his children sued for fraud in New York

NEW YORK: The New York state attorney general on Wednesday (local time) filed a lawsuit against former President Donald Trump, three of his children and the Trump Organization for allegedly making himself enriched after over a decade lasting fraud, as per media reports.

Attorney General Letitia James, a Democrat, alleged in a 200-page lawsuit the fraud touched all aspects of the Trump business, including its properties and golf courses, CNN reported.

As per the lawsuit, the Trump Organization deceived lenders, insurers and tax authorities by inflating the value of his properties using misleading appraisals.

"This conduct cannot be brushed aside and dismissed as some sort of good-faith mistake," James said during a press conference in New York.

"The statements of financial condition were greatly exaggerated, grossly inflated, objectively false, and therefore fraudulent and illegal. And as a result of that we are seeking relief, and Mr Trump, the Trump Organization, his family - they should all be held accountable," she said, as per CNN.

Among Trump's children, Donald Trump Jr., Eric Trump and Ivanka Trump, are named as defendants in the lawsuit. Apart from that, Allen Weisselberg, former CFO for the Trump Organization, and Jeff McConney, another longtime company executive, are also named.

The lawsuit further stated: "These acts of fraud and misrepresentation were similar in nature, were committed by upper management at the Trump Organization as part of a common endeavour for each annual Statement, and were approved at the highest levels of the Trump Organization - including by Mr Trump himself."

CNN reported that as part of the lawsuit, James is seeking USD 250 million in allegedly ill-gotten funds and to permanently bar Trump and the children named in the lawsuit from serving as the director of a business registered in New York state.

She is also seeking to cancel the Trump Organization's corporate certificate.