New York Attorney General Letitia JamesThe ex-president of the United States from a judge on Thursday donald trump and your company continues suspected fraudulent activities and it should be prevented from transferring its assets to a new company for fear that it will be used to avoid possible penalties.
James sued his boss and the Trump Organization last month. fraudulently obtaining loans, insurance benefits and paying lower taxes than they deserve, a case that was the result of a lengthy investigation and is currently pending trial.
According to the prosecutor, on the day the case was filed, the former president’s company did a restructuring appears to be trying to “escape the scope” of this action by the authorities.
Among other things, the Trump Organization has registered a new entity in the state of Delaware called Trump Organization II, and the company has so far refused to give assurances that it will not move its assets out of New York to evade possible sanctions.
james wants this Judge Arthur Engoron in the case ruled that the company could not transfer the assets to any other entity. without prior authorization from a court.
In addition, the New York prosecutor accuses the Trump Organization of “continuing the same fraudulent practices” that he is accused of.
“We are trying to immediately stop these actions today because Mr Trump should not be playing by different rules.”James said in a statement.
Specifically, the prosecution wants the judge to ban the Trump Organization from providing financial statements to banks and insurers who do not adequately report techniques used to value their assets.
According to James’ lawsuit, the company has spent years “illegally inflating and deflating” its assets to get loans on better terms or to get more coverage from insurers at lower fees.
The prosecution told the judge this Thursday, while awaiting the hearing, Appoint an independent observer to review all reports the Trump Organization makes to lenders and insurers.
“There is every reason to believe him.Defendants will continue similar fraudulent behavior “Until this is overseen by an order of the court, until the hearing,” James’ office wrote in a letter to Engoron.