New York Attorney General Letitia James’ $250 million lawsuit against Donald Trump alleging fraudulent business practices will proceed, a judge ruled Friday, slamming arguments by Trump’s legal team to dismiss it as “frivolous.”
James filed the suit in September against Trump, the family-run Trump Organization, his three oldest adult children who have been company executives, and his chief financial officer Allen Weisselberg. The case is scheduled to be heard beginning in October.
The suit accuses the Trumps and the Trump Organization — which operates real estate, golf resort and hospitality businesses — of intentionally lying to lenders and insurers about the value of the former president’s assets in order to secure favorable loan terms and lower insurance premiums.
If successful, the suit could cripple the company’s ability to do business in New York.
