October 31, 2020

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The prosecutor is investigating whether Trump’s company is a leader in terms of value creation

The prosecutor is investigating whether Trump's company is a leader in terms of value creation

Justice in New York State is investigating whether US President Donald Trump’s company lied about the value of its assets in order to obtain loans and tax breaks. Prosecutor Letitia James said Monday that she had taken action to force the company into completing seven subpoenas it had so far ignored. One of these subpoenas is against Trump’s son Eric, who despite a subpoena last month did not show up to be heard.

The investigation focuses on transactions involving one of Trump’s skyscrapers in Manhattan, one of his hotels in Chicago and a golf club in Los Angeles. The prosecutor, who is a member of the Democratic Party, said special attention is being paid to a relatively unknown property outside of New York.

The investigation was launched in response to testimony from Trump’s former attorney Michael Cohen who has come into conflict with his old boss. Cohen handed over judicial parts of Trump’s accounts from 2011 to 2013. The researchers want to find out whether the Trump Organization exaggerated the value of some assets to make it easier to obtain credit or downplayed the value of some assets in order to pay less taxes.

“Political Attack”

A Trump attorney says the Trump organization didn’t do anything wrong. The prosecutor’s complaint about the subpoenas, which the Trump organization failed to comply with, is a political attack, he says. According to him, the complaint was deliberately filed on the first day of the Republican Convention. According to the lawyer, the Trump organization is cooperating “in good faith” with the prosecutor.