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In 2022, James followed through on that promise by suing the former president, accusing him of artificially inflating his net worth by billions when applying for bank loans.
Trump ultimately lost the case in a ruling that many legal experts and constitutional scholars have blasted as excessive and politically motivated. The kicker? There were no actual victims. The massive banks involved not only got their money back in full but reportedly made a profit from doing business with Trump.
The dispute came down to property valuations – and the numbers were wildly different depending on who you asked. Judge Arthur Engoron sided with rock-bottom estimates, valuing Trump’s world-famous Mar-a-Lago estate at a jaw-dropping low of just $18–$27.6 million. Trump’s own appraisals placed the property between $426.5 million and $612 million, according to CNN.
Even so, Engoron hammered Trump with $354 million in penalties, plus interest – an amount his legal team has now taken to the appeals court to overturn.
The DOJ itself has refused to answer questions about the subpoenas. “No comment,” was essentially the only response reporters could get from Justice Department representatives, The New York Times noted. The U.S. Attorney’s Office in Albany also stayed silent.
James’ personal attorney, Abbe Lowell, blasted the move as nakedly political.
“This is the most blatant and desperate example of this administration carrying out the president’s political retribution campaign,” Lowell told The New York Times.
“Weaponizing the Department of Justice to try to punish an elected official for doing her job is an attack on the rule of law and a dangerous escalation by this administration.
“If prosecutors carry out this improper tactic and are genuinely interested in the truth, we are ready and waiting with facts and the law.”
The irony is hard to miss. For years, conservatives have accused James of weaponizing her own office to wage political warfare against Trump and his allies. Now, the same Justice Department that benefitted from her relentless attacks on the 45th president has turned its investigative sights on her.
Whether this is a genuine pursuit of justice or simply the latest example of Washington’s endless political power games, one thing is certain – the legal and political storm surrounding Letitia James just got a lot more intense.
