TOPLINE
New York Attorney General Letitia James sued the Trump Organization—along with the president’s son, Eric Trump—over the company’s alleged inflation of its assets to secure loans and other deals, and comes as the Republican National Convention kicks off and President Trump makes his case for reelection in November.
KEY FACTS
According to the Washington Post, James is investigating whether the Trump Organization misled investors by inflating the value of its assets.
James is also seeking for a judge to compel the Trump Organization to comply with subpoenas for its financial information, and to force Eric Trump to sit for an interview.
The Associated Press reported that the investigation covers an upstate New York estate called Seven Springs, which the attorney general calls “significant.”
“We are seeking thousands of documents and testimony from multiple witnesses regarding several Trump Organization properties and transactions, including from Eric Trump, who was intimately involved in one or more transactions under review,” James wrote on Twitter.
This is a developing story. Check back for details.
Key background
The investigation began in February 2019 after Trump’s former personal attorney and fixer, Michael Cohen, told Congress about the inflationary tactic Trump used for his assets, according to the Post.
Further reading
NY AG probes if President Trump inflated assets for loans (Associated Press)
New York attorney general sues Trump Organization, revealing state investigation into the company’s financial dealings (Washington Post)