Trump faces fraud lawsuit from NY attorney general

People take pictures outside the Trump International Hotel in Washington, DC, in May.
People take pictures outside the Trump International Hotel in Washington, DC, in May. (Gemunu Amarasinghe / AP)

The lawsuit from New York Attorney General Letitia James alleges former President Donald Trump used allegedly hypothetical financial statements in his and Ivanka Trump’s personal pursuits to open a luxury hotel in New York. Washington, DC, in the years before he ran for president.

The claims are “critical to the overall success of the investment in the Old Post Office property in Washington, DC,” which became the Trump International Hotel, James’ lawsuit says.

James alleges Ivanka Trump and her father presented the General Services Administration about his finances – including submitting financial statements to the agency that included misrepresentations – to Guaranteed hotel rental contract.

James said the father-son duo also spoke to the agency in person, which ultimately awarded them a lease on a federal government-owned building starting in 2013.

During Trump’s time in office, the hotel, less than a mile from the White House, became a gathering place for his supporters and confidants, and bookings rose thanks to its connection to the White House. contact the incumbent president.

James also alleges the Trump Organization secured a $170 million loan from Deutsche Bank, based in part on forgery, according to James, to develop the hotel inside the historic old Post Office building.

A banker there “at Ivanka Trump’s urging – closely watched the bank’s review of the request,” James’ team wrote. As part of the grant, “Mr Trump, as a guarantor, will be required to provide the bank with his annual statement of financial status,” the lawsuit said.

Trump personally secured the loan. James’ lawsuit says he must verify the accuracy of his finances to the bank.

Some other contexts: House Democrats have been trying to unearth Trump’s financial details for years, with the primary goal of digging through the Trump Hotel books. They were largely unsuccessful.

The Trump Organization sold the hotel in May 2022, making it possible for the company to repay the loan and make a profit. The DC Hotel now operates as a Waldorf Astoria.

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