Jonathan O’Connell Reporter covering economic development with a focus on commercial real estate and the Trump Organization October 29 at 6:11 PM Four anonymous plaintiffs filed a lawsuit against President Trump, his business and his three eldest children in federal court Monday, alleging that the Trumps helped promote fraudulent investments that duped investors. At issue are promotional spots and speeches that Trump made on behalf of marketing company ACN, also known as American Communications Network, which charged $499 for the chance to sell video phones licensed by the company, and sometimes extracted thousands of dollars later to have a chance of recouping the money. Trump earned $450,000 each for three speeches he gave for ACN, according to his government disclosure form, but in marketing videos he told potential investors that the opportunity came “without any of the risks most entrepreneurs have to take” and that his endorsement was “not for any money.” The plaintiffs allege that the investments were a sham and that Trump and his family promoted them — including twice on his TV show “Celebrity Apprentice” — despite knowing they were fraudulent. In a 164-page complaint filed with the Southern District of New York, the plaintiffs ask for damages including financial relief and a ruling barring the Trumps and their company from promoting such offers in the future. The White House referred questions to the Trump Organization, which issued a statement calling the suit “clearly just another effort by opponents of the President to use the court system to advance a political agenda.” “Not only are the allegations completely meritless, but they all relate to events which took p
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