A lawsuit filed on Monday in the U.S. District Court for the Southern District of New York, claims that President Trump and three of his children convinced consumers to put hundreds or thousands of dollars into bogus businesses.
The four plaintiffs said that Trump told them that they would have reasonable probability of commercial success if they invested money into the businesses. He said he was endorsing the investments because he believed they would make money. The three companies named were ACN Opportunity, The Trump Network and The Trump Institute.
The Trumps reportedly made millions of dollars deceiving these consumers which “were then and now among the most economically marginalized and vulnerable Americans.”
“Indeed, defendants were aware that the vast majority of consumers would lose whatever money they invested in the business opportunities and training programs the endorsed entities offered,” the lawsuit said.
“This case connects the dots at the Trump Organization and involves systematic fraud that spanned more than a decade, involved multiple Trump businesses and caused tremendous harm to thousands of hard working Americans,” two lawyers for the plaintiffs, Roberta A. Kaplan and Andrew G. Celli Jr., said in a statement.
Alan Garten, a lawyer for the Trump Organization, said the accusations have no merit and have to do with events that occurred 10 years ago.
“This is clearly just another effort by opponents of the President to use the court system to advance a political agenda,” the spokesman said. He noted the plaintiffs’ lawyers have long standing and deep ties to the Democratic Party and waited to file until just before the election.”