SAWT BEIRUT INTERNATIONAL

| 7 December 2022, Wednesday |

Trump’s company seeks to avoid consequences from lawsuit, NY prosecutor says

According to New York state Attorney General Letitia James, Donald Trump’s family corporation is attempting to reorganize itself in order to dodge potential ramifications from a lawsuit charging the Trump Organization, Trump, and three of his adult children of fraud.

James asked a New York state court in Manhattan to appoint an independent monitor to oversee the company before the civil fraud case, which accuses the real estate firm and the other defendants of overvaluing their assets and Trump’s net worth by lying to banks and insurers for a decade, goes to trial.

On the day of the complaint, the Trump Organization filed a new Delaware-incorporated business called “Trump Organization II” with New York officials, according to James. She stated that the Trump Organization has not offered guarantees that assets will not be moved out of New York.

Former Republican President Trump and his corporation have denied wrongdoing and called the investigation a politically driven “witch hunt.” James is a Democrat up for re-election in November.

Lawyers for Trump’s children and the Trump Organization did not immediately respond to requests for comment.

    Source:
  • Reuters