JUST IN: NY AG Letitia James Increases Amount She Wants From Trump to $370 Million, Seeks Lifetime Ban for Him From Real Estate Industry
Radical Marxist New York Attorney General Letitia James is now seeking $370 million in ‘damages’ when there is no victim in this fraud case and she is also seeking to ban Trump and his sons from operating any businesses in New York. She accused Trump of inflating his assets and defrauding lenders and insurance companies.
James originally sought $250 million in damages from Trump.
In addition to increasing the amount of ‘damages’ she wants Trump to pay, Letitia James is seeking a lifetime ban for him from the real estate industry.
NBC News reported:
New York Attorney General Letitia James is calling for a $370 million fine against former President Donald Trump and his companies and a lifetime ban for him and two of his former company executives from the real estate industry in the state.
Attorneys from James’s office requested the punishment in post-trial motions filed Friday in the Trump fraud case. They said that Trump owes $168 million of interest allegedly saved through fraud; $152 million from the sale of the Old Post Office building in Washington, D.C., the site of one of Trump’s hotels; $60 million through the transfer of the Ferry Point Golf Course contract; and $2.5 million from severance agreements for former Trump Organization chief financial officer Allen Howard Weisselberg and ex-Trump Organization controller Jeff McConney.
James also called for lifetime bans for Trump, Weisselberg and McConney from participation in the real estate industry as well as from serving as officers or directors in New York corporations or entities. The attorney general also asked for five-year bans for Trump’s eldest sons, Donald Trump Jr. and Eric Trump, with the same conditions.
In November a Deutsche Bank executive who worked to approve at least one of Trump’s loans testified that it is “atypical, but not entirely unusual” to reduce a client’s asset values and still approve a loan.
This type of lending is typical in high net-worth, high-profile clients like Donald Trump. Anyone with basic knowledge of banking, lending, portfolio and credit risk management knows this.
“A Deutsche Bank AG executive gave testimony that could bolster Donald Trump’s defense in his civil fraud trial, telling a New York judge that prospective clients can get loans even after reporting a net worth far higher than the lender’s own calculations.” Bloomberg previously reported.
“David Williams, who worked on at least one of three loans Deutsche Bank made to Trump in the years before he was elected president, testified Tuesday that it’s “atypical, but not entirely unusual” for the bank to cut a client’s stated asset value by 50% and approve a loan anyway, as it did with Trump,” Bloomberg reported.
Williams testified that Trump’s stated assets are merely an opinion and a difference of opinion in asset values does not disqualify the potential borrower from a loan.
“It’s just a difference of opinion,” Williams said, according to Bloomberg.
In September far-left New York Judge Arthur Engoron blasted Trump’s lawyers and said fining Trump for ‘illegal profits’ is an ‘available remedy’ – in a fraud case with zero victims.
Engoron said fining Trump for ‘illegal profits’ is an available remedy…even though there are no victims and a Deutsche Bank executive testified that loaning Trump was a “good credit decision.”
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