Radical Marxist New York Attorney General Letitia James pushed for President Trump to be banned from the real estate industry in Tuesday court filing.
Letitia James is seeking $370 million in ‘damages’ when there is no victim in this fraud case and she is also seeking to ban Trump and his sons from operating any businesses in New York. She accused Trump of inflating his assets and defrauding lenders and insurance companies.
James originally sought $250 million in damages from Trump.
In addition to increasing the amount of ‘damages’ she wants Trump to pay, Letitia James is seeking a lifetime ban for him from the real estate industry.
In November a Deutsche Bank executive who worked to approve at least one of Trump’s loans testified that it is “atypical, but not entirely unusual” to reduce a client’s asset values and still approve a loan.
This type of lending is typical in high net-worth, high-profile clients like Donald Trump. Anyone with basic knowledge of banking, lending, portfolio and credit risk management knows this.
Trump called the prosecution “election interference at the highest level.”
Engoron is expected to give a ruling by January 31.
Excerpt from Newsweek:
Donald Trump should be banned for life from the real estate industry, New York Attorney General Letitia James’ office has argued in a court filing.
Colleen Faherty, a lawyer in James’ office, submitted a letter to the judge in Trump’s New York fraud case requesting that he stop Trump from ever working in the real estate industry again.
In her letter, filed on Tuesday, Faherty informed Engoron about the appeal court decision in the case of Martin Shkreli, nicknamed ‘Pharma Bro’ by the media, who has been banned for life from the pharmaceuticals industry. She noted that Shkreli was also fined more than $60 million.
According to Faherty, New York State Executive Law 63(12)—which was used in the New York attorney general’s lawsuits against both Trump and Shkreli—gives the court the ability to “issue a permanent and plenary ban in a particular industry” and should be applied to Trump.