Trump creates new company after New York fraud lawsuit
Former U.S. President Donald Trump created a new company in Delaware called the Trump Organisation II ahead of the lawsuit filed by New York attorney general Letitia James, accusing him and his company of fraud.
The New York Times reports that on September 21, the day the suit was filed, the new Delaware company filed paperwork in New York, seeking to be recognised as the Trump Organisation II.
On Thursday, Ms James filed a request seeking an order from the judge that would prohibit the Trump Organisation from transferring its assets without court approval.
The filing said the Trump Organization “now appears to be taking steps to restructure its business to avoid existing responsibilities under New York law.”
Ms James also asked a judge to immediately install a monitor to oversee the company’s disclosures to lenders and insurers.
“Since we filed this sweeping lawsuit last month, Donald Trump and the Trump Organisation have continued those same fraudulent practices and taken measures to evade responsibility,” Ms James said in a statement. “Today, we are seeking an immediate stop to these actions because Mr Trump should not get to play by different rules.”
In September, Ms James accused former Mr Trump, his adult children and his family business, the Trump Organisation, of $250 million fraud, adding that they capitalised on the valuations of its properties to gain financial advantages.
The civil lawsuit seeks to bar Mr Trump, Donald Trump Jr., Eric Trump, and Ivanka Trump from acting as officers of the company in New York.
The lawsuit results from a three-year-long probe of Mr Trump’s business practices, during which Mr Trump was personally invited for a deposition.
Mr Trump invoked the Fifth Amendment in August, a few days after FBI agents raided his Mar-a-Lago estate in Florida as part of an unrelated federal probe into whether he took classified records when he left the White House.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Abuja
Abuja: Herdsman arrested for kidnapping Bolt driver, demanding N100 million ransom
The police said the herdsman only succeeded in collecting N110,000.
States
USIP: Northern governors go to U.S. to discuss insecurity
Governor Abba Yusuf has arrived in the U.S. for a high-powered symposium organised by the U.S. Institute of Peace.
Showbiz
Police begin manhunt for ‘Home and Away’ star Orpheus Pledger
The 30-year-old actor had been arrested on March 25 after allegedly assaulting a woman but was granted bail on Monday.
Rights
EFCC is lawless, dishonourable federal agency; I’m not fugitive: Yahaya Bello
The embattled ex-Kogi governor said he was not a fugitive and claimed the EFCC did not invite him for interrogation over any alleged financial infractions.
Sport
Police arrest Premier League players for rape
They were arrested in front of their club’s stadium over the weekend but have since been released on bail after being interviewed by the police.
States
Court remands man for allegedly defiling a minor
The judge directed the prosecutor to forward the case file to the state DPP for legal advice.