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NEW YORK, Sept 21 (Reuters) – Former U.S. President Donald Trump and his grownup youngsters had been sued on Wednesday for what New York state’s lawyer basic referred to as quite a few acts of fraud and misrepresentation, accused of misstating the values of actual property properties to acquire favorable loans and tax advantages.
The lawsuit, filed in a New York state courtroom in Manhattan, accused the Trump Group of wrongdoing in getting ready Trump’s annual statements of monetary situation from 2011 to 2021. It additionally named as defendants the Trump Group – a household firm that manages lodges, golf programs and different actual property around the globe – in addition to the previous president’s sons Donald Trump Jr. and Eric Trump and his daughter Ivanka Trump.
Legal professional Basic Letitia James, a Democrat, stated her workplace uncovered greater than 200 examples of deceptive asset valuations, and the criticism talked about 23 property that she referred to as “grossly and fraudulently inflated.”
Trump in a social media publish referred to as the lawsuit, one of many greatest authorized blows for the Republican businessman-turned-politician since he left workplace in January 2021, “one other Witch Hunt” and launched a private assault on James. Trump is contemplating working for president once more in 2024.
The lawsuit was civil, that means it didn’t contain felony prices. However James stated she was referring allegations of felony wrongdoing to federal prosecutors in Manhattan and the Inside Income Service for investigation.
“The sample of fraud and deception that was utilized by Mr. Trump and the Trump Group for their very own monetary profit is astounding,” James instructed a information convention.
“Claiming that you’ve got cash that you just wouldn’t have doesn’t quantity to the ‘artwork of the deal,’ it is the artwork of the steal,” James stated, referring to the title of a 1987 guide written by Trump.
The lawsuit accused Trump of inflating his internet price by billions of {dollars} to induce banks to lend cash to his firm on extra favorable, to fulfill persevering with mortgage phrases, to coax insurers to offer protection for greater limits at decrease premiums, to realize tax advantages and different functions.
James is looking for to completely bar Trump and his three youngsters named as defendants within the case from serving as an officer or director in any New York company, prohibit Trump and the Trump Group from getting into into any industrial actual property acquisitions in New York for 5 years and award disgorgement of all monetary advantages gained fraudulently – estimated to whole $250 million. learn extra
James stated her workplace rejected settlement presents submitted by the defendants, however stated “our doorways are at all times open” for future negotiations.
The Trump Group has individually been charged with felony tax fraud by the Manhattan District Legal professional’s workplace and is getting ready for an Oct. 24 trial. Its former chief monetary officer Allen Weisselberg – who can be named as a defendant in James’ swimsuit – has pleaded responsible and is anticipated to testify in opposition to the corporate. learn extra
Following the information convention by James, Trump on social media disparaged her integrity.
“She is a fraud who campaigned on a ‘get Trump’ platform, although the town is without doubt one of the crime and homicide disasters of the world below her watch!” Trump wrote.
James opened the civil investigation into Trump’s enterprise practices after Michael Cohen, Trump’s former lawyer and fixer, stated in congressional testimony that the president inflated some asset values to save cash on loans and insurance coverage.
“The Legal professional Basic’s Workplace has exceeded its statutory authority by prying into transactions the place completely no wrongdoing has taken place,” Alina Habba, a lawyer for Trump, stated in an announcement, calling the accusations “meritless.”
Wednesday’s lawsuit adopted a contentious investigation during which James accused Trump, his firm and a few members of the family of utilizing delay techniques to disregard subpoenas and keep away from testifying.
Trump on Aug. 10 declined to reply questions in a closed-door deposition on the workplace of the lawyer basic, invoking his proper in opposition to self-incrimination below the U.S. Structure’s Fifth Modification greater than 400 instances.
Donald Trump Jr. and Ivanka Trump agreed to sit down for depositions solely after courts required it. Eric Trump invoked his Fifth Modification rights greater than 500 instances in a 2020 deposition. learn extra
Among the many properties James cited as examples within the lawsuit was Trump’s personal condo in Manhattan’s Trump Tower.
James stated Trump stated the condo was 30,000 sq. ft, when in reality it was solely 10,996 sq. ft, and that its $327 million valuation in 2015 was “absurd” since no New York Metropolis condo had bought for $100 million on the time.
She additionally stated Trump valued his Mar-a-Lago property in Florida as excessive as $739 million by pretending it could possibly be developed for residential use, when he knew there have been restrictions. James stated Mar-a-Lago ought to have been valued nearer to $75 million.
James additionally goals to bar Trump and his firm from borrowing from state-licensed banks for 5 years.
She acknowledged that Trump, who now lives in Florida, might attempt to transfer his firm or borrow elsewhere, however that might not excuse him from his obligations in New York.
“There can’t be totally different guidelines for various individuals on this nation or state, and former presidents are not any totally different,” James stated.
Trump has been beset with authorized troubles. The FBI carried out a search at Mar-a-Lago on Aug. 8 as a part of a felony investigation into his dealing with of presidential information together with labeled materials. learn extra
Trump additionally faces a felony investigation in Georgia over his efforts to overturn the 2020 election outcomes. learn extra
He has denied wrongdoing within the varied probes.
Reporting by Jonathan Stempel, Karen Freifeld and Luc Cohen in New York; Enhancing by Will Dunham and Alistair Bell
Our Requirements: The Thomson Reuters Belief Rules.
Iranâs allies and neighbours have sent condolences to Tehran following the death of President Ebrahim Raisi, with the leaders of China, Russia, Venezuela and Turkey among the first to respond.
Reaction in western capitals was more muted, underscoring the Islamic republicâs divisive position in global politics, but France and the EU offered their condolences.
Iranian authorities had confirmed on Monday that Raisi and Iranâs foreign minister Hossein Amirabdollahian were killed in a helicopter crash on the previous day in a remote region in Iranâs Arasbaran Forest, near the border with Azerbaijan.
Russian President Vladimir Putin was swift to express his countryâs sorrow. He praised Raisiâs âinvaluable personal contribution to growing friendly relations between our countriesâ, adding that his Iranian counterpart had been crucial in forging a âstrategic partnershipâ between Moscow and Tehran.
The two countries have backed the regime of President Bashar al-Assad in Syriaâs more than decade-long civil war. They also have deepening military ties, with Iran providing Russia with drones and munitions for its war in Ukraine.
Assad on Monday mourned the âpainful incident and the great loss that resulted from itâ.
Chinaâs President Xi Jinping had sent a message expressing âdeep sorrow on behalf of the Chinese government and peopleâ, Beijingâs foreign ministry said. Raisi had made âsignificant contributions to maintaining Iranâs security and stabilityâ and his death âdeprived the Chinese people of a good friendâ, Xi said.
âChina will continue to support the Iranian government and people in maintaining independence, stability and development,â the statement added.
Along with Russia and China, Iran is an important ally for Venezuela as Caracas struggles to rebuild the countryâs oil industry amid US sanctions. President NicolĂĄs Maduro said he and his wife Cilia were âoverwhelmed by great sadness at having to bid farewell to an exemplary person, an extraordinary world leaderâ.
Condolences also flooded in from across the so-called axis of resistance, a network of Iran-backed regional proxies that includes Hizbollah, Hamas, Yemenâs Houthis and the Shia militias in Iraq.Â
Hizbollah said Raisi âwas to us a big brother, a strong supporter, a staunch defender of our causesâ.â.â.âand a protector of the resistance movementsâ. It also mourned the death of Amirabdollahian, calling him a âdear brotherâ.
Hamas conveyed its âdeepest condolences and solidarityâ and mourned âthe immense lossâ, praising the deceased Iranian officials for their steadfast support of the Palestinian cause and resistance against Israel.
Arab states, which have a history of fraught ties with Iran, also expressed sympathy. Saudi Crown Prince Mohammed bin Salman and Sheikh Mohammed bin Zayed, president of the United Arab Emirates, were among regional powers that offered their condolences.
Saudi Arabia and the UAE have sought to de-escalate tensions with Iran in recent years.
The strong signals of support from Iranâs allies and neighbours contrasted with the subdued reaction from western capitals. Iran has endured hostile relations with the US and other western nations since the 1979 Islamic revolution. Tensions with the west have heightened over Tehranâs military support for Putin since Russiaâs invasion of Ukraine and since the war between Israel and Hamas erupted after the Palestinian militant groupâs October 7 attack last year.
Iran considers Israel and the US to be its leading foes, and last month launched its first-ever direct attack on the Jewish state in response to an Israeli strike on an Iranian consulate in Damascus. Iran is also the target of swingeing and long-standing economic sanctions by the US and EU, among others related to its nuclear programme.
Western capitals and Israel will be considering the consequences for Iranâs future leadership, as Raisi was widely considered a possible successor to the countryâs 85-year-old supreme leader, Ayatollah Ali Khamenei.
Israeli Prime Minister Benjamin Netanyahuâs government did not immediately give a public response to news of Raisiâs death, but opposition leader Yair Lapid said: âIran will enter a period of instability â the strategic relations between [the US and Israel] are more important than ever.â
The White House and US state department also did not immediately issue an official response. Chuck Schumer, US Senate majority leader, said only that he had been told by US intelligence agencies that there was no evidence of foul play, NBC reported.
European Council president Charles Michel said the EU âexpresses its sincere condolences for the death of President Raisi and foreign minister Amirabdollahianâ.
The French foreign ministry said France âexpressed its condolencesâ to Iran and the families of the victims.
In Italy, Prime Minister Giorgia Meloni said: âWe are in constant contact with our European and G7 allies because we are talking about an incident that is part of a particularly complex regional framework.â
She added: âI hope that the future Iranian leadership wants to commit itself to the stabilisation and pacification of the region.â
Elsewhere in the Middle East, Lebanon declared three days of mourning after Raisiâs death.
Turkey, which like the UAE has recently sought rapprochement with Tehran, also offered its condolences. âAs a colleague who personally witnessed his efforts for the peace of the Iranian people and our region during his time in office, I remember [Raisi] with respect and gratitude,â said Turkish President Recep Tayyip ErdoÄan.
Reporting by Adam Samson, Maxine Kelly, Chloe Cornish, Neri Zilber, Max Seddon, Amy Kazmin, Raya Jalabi, Michael Stott and Joe Leahy
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Taiwanâs new president, Lai Ching-te, has called on Beijing to work with him to achieve peace and common prosperity rather than menace his country as he was sworn into office amid high tensions across the Taiwan Strait.
China should âstop its verbal attacks and military intimidationâ.â.â.âshoulder global responsibilities together with Taiwan, commit to maintaining peace and stability across the Taiwan Strait and in the region and ensure that the world is free from the fear of war,â Lai said in his inaugural address on Monday.
Lai appealed to Beijing to engage with Taiwanâs democratically elected government, calling for the resumption of mutual tourism exchanges and programmes bringing Chinese students to Taiwan.
Senior officials in Laiâs incoming government said the pledge to resume exchanges was a concrete gesture of goodwill. The Chinese government has blamed Taiwan for an almost complete breakdown in cross-Strait interaction, though Taipei insists that Beijing has hindered a resumption of programmes.
The Chinese Communist party claims that Taiwan is part of China and threatens to use force to bring it under its control if Taipei resists unification indefinitely. It has denounced Lai as a âdangerous separatistâ, rhetoric even more hostile than its rejection of his predecessor, Tsai Ing-wen.
As he sought to reassure the US, Lai invoked much of the language that Tsai â whose prudent China policy drew plaudits abroad â used to describe Taiwanâs status and its relationship with Beijing.
Lai pledged that his government would âneither yield nor provoke, and maintain the status quoâ across the Taiwan Strait and âuphold the four commitmentsâ made by Tsai, including sticking to the countryâs free and democratic constitutional system.
Other commitments are that the Republic of China â Taiwanâs official name â and the Peopleâs Republic of China should not be subordinate to each other; to resist annexation or encroachment upon Taiwanâs sovereignty; and to ensure that the countryâs future must be decided in accordance with the will of the Taiwanese people.
âSince the future of the two sides of the Strait has a decisive impact on the global situation, weâ.â.â.âwill be the helmsmen of peace,â Lai said.
Lai also called on Beijing to acknowledge the existence of the ROC, another phrase borrowed from Tsai. Founded on the mainland, the ROC has persisted in Taiwan after it was defeated in Chinaâs 1949 Communist revolution.
But he added his own note on national identity, saying: âNo matter if [it is] the Republic of China, Republic of China Taiwan or Taiwan, these names [that] we ourselves or our international friends call our country all resonate and shine the same.â
Although the CCP refuses to recognise the ROC, Chinese leaders are even more alarmed by references to âTaiwanâ, which are often interpreted as a signal of support for Taiwanese independence.
âLaiâs statement that prosperous coexistence should be a common goal for the two sides echoes Beijingâs recent call for him to choose between peaceful development or confrontation,â said Danny Russel, vice-president for international security and diplomacy at the Asia Society Policy Institute.
But his pledge to neither yield nor provoke while maintaining the status quo is âcertain to fall flat with Beijingâ, added Russel, who was an assistant secretary of state under US president Barack Obama. âThere is virtually nothing that Lai could have said, short of âunconditional surrenderâ, that would satisfy Beijing.â
Lai also faces attempts by opposition parties to expand the powers of the legislature â in which he lacks a majority â and weaken security legislation. On Monday he urged his domestic rivals to avoid political gain at the cost of national interests.
He pledged to expand Taiwanâs global role by leveraging its strength in the semiconductor industry and committed to making the countryâs economic growth more inclusive and strengthening social security.
US secretary of state Antony Blinken said that Washington looked forward to âworking with President Lai and across Taiwanâs political spectrum to advance our shared interests and values, deepen our long-standing unofficial relationship and maintain peace and stability across the Taiwan Straitâ.
Japanâs chief cabinet secretary Yoshimasa Hayashi called Taiwan an âextremely crucial partner and important friendâ in congratulatory remarks that expressed hopes of further deepening their relationship.
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