By Justin Malone, Staff Writer

Former president Donald Trump faces a $250 million civil lawsuit filed by the NY Attorney General over alleged financial frauds and other more.

New York Attorney General Letitia James filed an extensive lawsuit against cheugy  former president Donald Trump, three of his children and the Trump Organization last Wednesday. alleging they committed numerous acts of widespread fraud to gain loans and pay lower taxes.

The 220-page lawsuit, filed in the New York Supreme Court, charges Trump and his family business on seven counts of fraud and conspiracy to commit fraud.

The lawsuit alleges they created false financial statements related to the company’s business practices for banks, insurance companies and the Internal Revenue Service from 2011 to 2021.

The lawsuit alleges the Trump Organization’s annual Statement of Financial Condition (SFC) reports, which show the company’s estimated value of their assets and liabilities, misrepresented the business’s wealth in managing global real estate, hotels and golf courses for a decade.

As a result, the statements allegedly overvalued Trump’s net worth, which encouraged banks to “lend money to the Trump Organization on more favorable terms than would otherwise have been available to the company,” according to the lawsuit.

This reportedly allowed for the business to receive lower taxes and better insurance coverage at lower premiums.

The lawsuit also claims that the defendants overvalued at least 23 of Trump’s real estate assets by billions of dollars, misleading insurers and lenders in the process.

In one instance, according to the suit, Trump’s 40 Wall Street property received appraisals from a bank valuing it at $200 million in August 2010. However, in the 2011 SFC, the property was reported at a value of over $524 million.

“The number of grossly inflated asset values is staggering, affecting most if not all of the real estate holdings in any given year,” the lawsuit claims.

Prosecutors are seeking at least $250 million in damages from the court plus interest, which they believe is the amount Trump and the co-defendants received in financial gains from their alleged fraud.

The prosecution also hopes to permanently bar Trump and his children Donald Jr., Ivanka and Eric from serving as officers or directors of a business in New York again and prohibit the Trump Organization from purchasing real estate or gaining loans from banks in New York for 5 years.

The civil suit culminates a 3.5 year investigation conducted by the New York Attorney General’s Office, which was led by James.

James stated that her office uncovered more than 200 instances of Trump and his family making false or misleading asset evaluations on company statements after interviewing 65 witnesses and reviewing millions of documents during the investigation.

In response to the suit, Trump blasted James for investigating his business, calling it “another witch-hunt.”

“She is a fraud who campaigned on a ‘Get Trump’ platform, despite the fact that the city is one of the crime and murder disasters of the world under her watch!” he wrote on his social media site, Truth Social.

Since the lawsuit heads to court as a civil trial, James and her legal team will need to prove that Trump and his business’ conduct was illegal or fraudulent by a preponderance of the evidence.