New York sues Donald Trump, company and family members over widespread fraud claims, seeks at least $250 million in penalties

The 220-page civil lawsuit seeks at least $250 million in damages. It seeks to permanently bar Trump, Donald Trump Jr., Eric Trump, and Ivanka Trump from serving as an officer of a company in New York. The suit alleges that Trump overstated the values of his assets in statements to banks, insurance companies and the IRS to obtain more favorable loan and insurance terms for his company. New York Attorney General Letitia James: “For too long, powerful, wealthy people in this country have operated as if the rules do not apply”

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