New York AG says Trump's company misled banks, tax officials
The New York attorney general바카라 게임 웹사이트s office late Tuesday told a court its investigators have uncovered evidence that former President Donald Trump바카라 게임 웹사이트s company used 바카라 게임 웹사이트fraudulent or misleading바카라 게임 웹사이트 asset valuations to get loans and tax benefits.
The court filing said state authorities haven바카라 게임 웹사이트t yet decided whether to bring a lawsuit in connection with the allegations, but that investigators need to question Trump and his two eldest children as part of the probe.
The Trump Organization issued a statement Wednesday calling the civil investigation 바카라 게임 웹사이트baseless바카라 게임 웹사이트 and politically motivated.
Video above: NY attorney general seeks Trump's testimony
In the , Attorney General Letitia James바카라 게임 웹사이트 office gave its of a long-running investigation of allegations that Trump's company exaggerated the value of assets to get favorable loan terms, or misstated what land was worth to slash its tax burden.
The Trump Organization, it said, had overstated the value of land donations made in New York and California on paperwork submitted to the IRS to justify several million dollars in tax deductions.
When giving estimates of Trump's wealth, the company misreported the size of his Manhattan penthouse, saying it was nearly three times its actual size 바카라 게임 웹사이트 a difference in value of about $200 million, James' office said, citing deposition testimony from Trump's longtime financial chief Allen Weisselberg, who was charged last year with tax fraud in a parallel criminal investigation.
James바카라 게임 웹사이트 office detailed its findings in a court motion seeking to force Trump, his daughter Ivanka Trump and his son Donald Trump Jr. to comply with subpoenas seeking their testimony.
Investigators, the court papers said, had 바카라 게임 웹사이트developed significant additional evidence indicating that the Trump Organization used fraudulent or misleading asset valuations to obtain a host of economic benefits, including loans, insurance coverage, and tax deductions."
In its statement, the Trump Organization said 바카라 게임 웹사이트the only one misleading the public is Letitia James.바카라 게임 웹사이트
바카라 게임 웹사이트She defrauded New Yorkers by basing her entire candidacy on a promise to get Trump at all costs without having seen a shred of evidence and in violation of every conceivable ethical rule,바카라 게임 웹사이트 they wrote. 바카라 게임 웹사이트Three years later she is now faced with the stark reality that she has no case.바카라 게임 웹사이트
Trump's legal team has sought to block the subpoenas, calling them 바카라 게임 웹사이트an unprecedented and unconstitutional maneuver." They say James is improperly attempting to obtain testimony that could be used in the parallel criminal investigation, being overseen by Manhattan District Attorney Alvin Bragg.
Trump sued James in federal court last month, seeking to put an end to her investigation. In the suit, his lawyers claimed the attorney general, a Democrat, had violated the Republican바카라 게임 웹사이트s constitutional rights in a 바카라 게임 웹사이트thinly-veiled effort to publicly malign Trump and his associates.바카라 게임 웹사이트
In the past, the Republican ex-president has decried James바카라 게임 웹사이트 investigation and Bragg's probe as part of a 바카라 게임 웹사이트witch hunt."
In a statement late Tuesday, James office said that it hasn't decided whether to pursue legal action, but said the evidence gathered so far shows the investigation should proceed unimpeded.
바카라 게임 웹사이트For more than two years, the Trump Organization has used delay tactics and litigation in an attempt to thwart a legitimate investigation into its financial dealings,바카라 게임 웹사이트 James said. 바카라 게임 웹사이트Thus far in our investigation, we have uncovered significant evidence that suggests Donald J. Trump and the Trump Organization falsely and fraudulently valued multiple assets and misrepresented those values to financial institutions for economic benefit."
Although James바카라 게임 웹사이트 civil investigation is separate from the criminal investigation, her office has been involved in both, dispatching several lawyers to work side-by-side with prosecutors from the Manhattan D.A.바카라 게임 웹사이트s office.
James바카라 게임 웹사이트 office said that under state law, it could seek 바카라 게임 웹사이트a broad range of remedies바카라 게임 웹사이트 against companies found to have committed commercial fraud, 바카라 게임 웹사이트including revoking a license to conduct business within the state, moving to have an officer or director removed from board of directors, and restitution and disgorgement of ill-gotten gains.바카라 게임 웹사이트
In the court papers, James바카라 게임 웹사이트 office said evidence shows that Trump바카라 게임 웹사이트s company:
바카라 게임 웹사이트 Listed his Seven Springs estate north of New York City as being worth $291 million, based on the dubious assumption that it could reap $161 million from building nine luxury homes.
바카라 게임 웹사이트 Added a 바카라 게임 웹사이트brand premium바카라 게임 웹사이트 of 15% to 30% to the value of some properties because they carried the Trump name, despite financial statements explicitly stating they didn't incorporate brand value.
바카라 게임 웹사이트 Inflated the value of a suburban New York golf club by millions of dollars by counting fees for memberships that weren바카라 게임 웹사이트t sold or were never paid.
바카라 게임 웹사이트 Valued a Park Avenue condominium tower at $350 million, based on proceeds it could reap from unsold units, even though many of those apartments were likely to sell for less because they were covered by rent stabilization laws.
바카라 게임 웹사이트 Valued an apartment being rented to Ivanka Trump at as high as $25 million, even though she had an option to buy it for $8.5 million.
바카라 게임 웹사이트 Said in documents that its stake in an office building, 40 Wall Street, was worth $525 million to $602 million 바카라 게임 웹사이트 between two to three times the estimate reached by appraisers working for the lender Capital One.
One judge has previously sided with James on an earlier request to question another Trump son, Trump Organization executive Eric Trump, who ultimately sat for a deposition but declined to answer some questions.
Last year, the Manhattan district attorney brought tax fraud charges against the Trump Organization and Weisselberg, its longtime chief financial officer.
Weisselberg pleaded not guilty to charges alleging he and the company evaded taxes on lucrative fringe benefits paid to executives.
Both investigations are at least partly related to allegations made in news reports and by Trump바카라 게임 웹사이트s former personal lawyer, Michael Cohen, that Trump had a history of misrepresenting the value of assets.
The disclosures about the attorney general's investigation came the same day as Trump ally Rudy Giuliani and other members of the legal team that had sought to overturn the results of the 2020 presidential election were subpoenaed by a House committee investigating the U.S. Capitol insurrection.