The Trumps have claimed that this is a politically motivated investigation.
New York Attorney General Letitia James said she found evidence suggesting that the Trump family fraudulently valued multiple assets and misrepresented those values for financial gain.
In a court document released Tuesday night, James said that as beneficial owner of the Trump Organization, former President Donald Trump “had ultimate authority over a broad swath of the organization’s conduct.” Trump organization that involved misstatements to counterparties, including financial institutions and the Internal Revenue Service.”
James seeks to question Trump and his two eldest children, Donald and Ivanka, as part of his civilian investigation.
In the text, the attorney general assured that the three should personally testify in court.
“Until January 2017, Mrs. Trump was a primary contact for the Trump Organization’s largest lender, Deutsche Bank. In connection with this work, Mrs. Trump had them present misleading financial statements to Deutsche Bank and the federal government”, maintains the judicial document of the case.
It added that “since 2017, Donald Trump, Jr. has had authority over numerous financial statements that contain misleading asset valuations.”
The court filing provided a detailed description of the alleged fraudulent valuations and misrepresentations of those values to financial institutions.
Among them are that the penthouse of the former president in the Trump Tower of Manhattan, in New York, was three times smaller than they declared, overvaluing its price by 200 million dollars.
various legal investigations
The Trumps have claimed that it is a politically motivated research and urged the court to vacate the citations against all three.
“So far in our investigation, we have uncovered significant evidence suggesting that Donald J. Trump and the Trump Organization falsely and fraudulently valued multiple assets and misrepresented those values to financial institutions to obtain economic benefitsJames said in a statement Tuesday night after his court filed to oppose that motion.
“The Trumps must comply with our subpoenas to produce documents and testimony because no one in this country gets to choose whether and how the law applies to them. We will not be deterred in our efforts to continue this investigation. and make sure that no one is above the law,” said the official.
James launched his investigation in March 2019 and suspects the Trump Organization fraudulently overstated the value of certain properties when seeking bank loans, then undercut them to pay less taxes.
Eric, Trump’s son and executive vice president of the Trump Organization, was questioned by James’ office about this case in October 2020.
The former president faces pressure from several legal investigations.
In Washington, he is trying to prevent a legislative investigation into the January 6 attack by his supporters on Capitol Hill, the seat of the US Congress in Washington, from accessing White House records related to that day.
The Trump Organization is also being investigated by the Manhattan District Attorney for potential financial crimes and insurance fraud.
In July of last year, the Trump Organization and its chief financial officer, Allen Weisselberg, pleaded not guilty in a New York court to 15 felony counts of tax fraud and evasion.
His trial is scheduled to begin in the middle of this year.
Trump was also questioned for more than four hours in October as part of a lawsuit by a group of protesters who allege his security guards assaulted them six years ago.
He is also fighting to prevent years of his tax returns from being turned over to prosecutors. (I)
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