ToplineA federal judge Friday dismissed a lawsuit former President Donald Trump brought against New York Attorney General Letitia James (D) in an attempt to block her investigation into potential financial fraud by the Trump Organization, delivering yet another legal loss to the defeated ex-president. It’s unclear if Trump plans to appeal the ruling from District Judge Brenda Sannes, who is an Obama Administration appointee. The investigation is focused on whether the Trump Organization inflated the value of assets to lenders to secure loans, while undervaluing them to tax authorities to cut its tax bills. James' investigation is a civil probe that could lead to a lawsuit against Trump, but the district attorneys of Manhattan and Westchester County, New York, are leading criminal probes into similar allegations of financial fraud. That’s how much Trump paid in fines to James’ office last week to lift a contempt ruling against him for refusing to comply with a subpoena requesting Trump Organization tax records, among other documents.

Source: Forbes May 28, 2022 02:59 UTC