Donald Trump's $100 million fraud

A state lawyer has accused Former President Donald Trump of generating more than $100 million by lying about his real estate empire.

Attorney General Letitia James has sought at least $250 million in fines besides a permanent ban against Trump and his sons Donald Jr and Eric from running businesses in New York.

James also demanded a five-year commercial real estate ban against Trump and the Trump Organization.

However, Trump termed the case a “scam", a “sham", and a “political vendetta"

Trump also called the Democrat a corrupt person, a terrible person.

The case concerns accusations by the attorney general that the former president inflated his assets and his own net worth from 2011 to 2021 to obtain favorable bank loans and lower insurance premiums.

James also accused Trump of materially overvaluing assets including his Trump Tower penthouse apartment in Manhattan.

Trump’s lawyer, however, refuted the charges saying he has made a fortune literally being right about real estate investments.

There was no intent to defraud, there was no illegality, there was no default, the lawyer said.

Last week, the judge found Trump, his sons, and 10 of his companies liable for fraud.