suspected financial fraud
Judge orders Trump to testify
02/17/2022, 11:11 p.m
The New York Attorney General has been conducting financial investigations into the Trump empire since 2019. Now a judge is ordering the former president to testify under oath on the matter in court. His children Ivanka and Donald Junior also receive a subpoena.
Former US President Donald Trump has been ordered by a New York judge to testify under oath as part of a financial investigation into his real estate empire. Judge Arthur Engoron ruled that Trump, his daughter Ivanka, and son Donald Junior must comply with subpoenas from New York Attorney General Letitia James within 21 days. James spoke of a victory for the judiciary: “No one is above the law.”
The New York State Attorney General launched a civil investigation into the Trump Organization in 2019 for possible financial crimes. She investigates the suspicion that the family holding company artificially inflated the value of real estate when it wanted to obtain loans from banks, and in other cases underestimated to save on taxes or insurance premiums.
In January, James said he had gathered evidence of financial fraud. “In our investigation, we uncovered significant evidence suggesting that Donald J. Trump and the Trump Organization misvalued numerous assets and fraudulently.” The assets were misrepresented to financial institutions to gain “economic benefits.”
James wants to question the ex-president, his eldest son Donald Junior and his daughter Ivanka as part of their investigation and has issued subpoenas. The Trumps sued against the subpoenas – and were now defeated in court. You can, however, appeal the decision.
Trump speaks of politically motivated investigations
Judge Engoron said Trump and his children could exercise their right to remain silent at any time during the interviews. Trump’s second eldest son Eric, who was interviewed in October 2020, used it “more than 500 times” at the time.
Trump has repeatedly denied the Attorney General’s allegations and accused her of conducting politically motivated investigations against him. James is a member of President Joe Biden’s Democratic Party.
In parallel with the Attorney General’s investigation, the Manhattan Attorney’s Office is conducting a criminal investigation into Trump Corporation’s business conduct. In July last year, charges were brought against the Trump Organization and its longtime chief financial officer, Allen Weisselberg, for tax fraud.
It was only announced on Monday that Trump’s long-standing auditors had parted ways with the former US President as a customer. Accounting firm Mazars said the Trump Organization’s financial statements for nearly a decade “should no longer be relied upon.” Both internal investigations and “external sources” led to this conclusion. Trump has been accused of dubious business and financial practices for decades.
It is still unclear how dangerous the investigations in New York could be for Trump. The 75-year-old has repeatedly raised a possible re-election for the presidency in 2024. The right-wing populist is still held in high esteem by his supporters, and he is still the strongman in his Republican Party.