(FeaturedNews.com) – In a recent development, the Appellate Division of New York’s Supreme Court dismissed Ivanka Trump from the lawsuit filed by New York AG Letitia James against Donald Trump, his company, and his three adult children. The court ruling was based on the observation that the claims against Ivanka Trump were beyond the statute of limitations established by New York law. The court noted that all the claims against Ivanka Trump had been accrued prior to February 6th, 2016, necessitating their dismissal.
However, the court emphasized that any allegations related to wrongful actions that occurred after February 2016 were still eligible to be pursued. It was highlighted that Ivanka Trump had distanced herself from the Trump family business by 2016, which accounted for the absence of claims filed against her for that period.
Letitia James’ lawsuit, which was initiated last year, is seeking significant financial penalties amounting to $250 million. In addition to the financial penalties, the lawsuit aims to impose a complete prohibition on Donald Trump, Ivanka Trump, Donald Trump Jr., and Eric Trump from serving as officers or directors in any company registered or licensed in New York. Furthermore, the lawsuit requests a restriction on the Trump Organization and Donald Trump himself, prohibiting them from engaging in real estate acquisitions in New York or obtaining loans in the state for the next five years.
This lawsuit stems from a comprehensive three-year investigation conducted by the Attorney General’s office. The investigation focused on determining whether Donald Trump had artificially inflated the value of his assets with the intention of benefiting from more favorable loans and investments, while simultaneously deflating their value for the purpose of reducing tax obligations.
The dismissal of Ivanka Trump from the lawsuit marks a significant development in the ongoing legal battle involving the Trump family and their business practices. As the case progresses, it will be interesting to see how the remaining claims against the other defendants unfold and how this legal action may impact the Trump family’s future business endeavors in New York.
Copyright 2023, FeaturedNews.com
