Daily Beast: “Former President Donald Trump, faced with a New York attorney general who won’t back down, is finally being forced to come up with a defense to explain why he lied relentlessly about his real estate portfolio. Her gargantuan lawsuit could bankrupt his company—and pave the way for a future criminal prosecution. His riches are being threatened by a powerful law enforcement tool that AG Letitia James is wielding like a sledgehammer. Her civil lawsuit against him and his family—which accuses them of rampant bank and tax fraud—relies on the state’s Executive Law 63 (12). Its potential to deal serious damage is evident by how desperately the former president has tried to avoid fighting it head-on. Rather than present an actual defense, Trump has questioned for nearly a year whether that law even gives AG Letitia James the authority to target his family company. He’s failed miserably. This month, he was shut down by a New York judge who threatened to sanction his lawyers over this issue. After being fined $1 million by a federal judge tired of his “frivolous” antics, Trump is now in full retreat. He withdrew a Florida lawsuit against James last week, and he dropped a similar one against her in New York on Tuesday. Trump must now confront a legal weapon that could blow up his finances and end his family company, several former attorneys general and prosecutors told The Daily Beast.

It’s the cornerstone statutory authority for an attorney general to launch investigations and initiate prosecutions. The language is broad. It talks about persistent fraud and illegality. She has the authority to protect the public from scammers,” said Bob Abrams, who served as New York attorney general from 1979 until 1993…”