Case centers on state law that gives the attorney general broad power to address persistent fraud in business
The New York attorney general’s lawsuit against former President Donald Trump uses a common state business law to make allegations about property valuations, which lawyers say are rarely the focus of civil-fraud cases.
The lawsuit, filed Wednesday by Letitia James, accuses Mr. Trump, three of his adult children, his company and two of its longtime officials of participating in a decadelong scheme to falsify financial statements for economic gain. Ms. James, a Democrat, alleges the defendants made illegitimate and misleading valuations of 23 properties and assets, from a golf club in Scotland to several properties in New York.
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