Trump corporation accused of tax fraud to obtain loans and benefits

New York’s attorney general’s office, Letitia James, told a court on Tuesday that evidence was found that former President Donald Trump’s company used “fraudulent or misleading” asset assessments to obtain loans and tax benefits.

The document, provided by the office, states that the state authorities have not yet decided whether to open a process on the allegations, however, it offers the following: Investigators are expected to question Trump and Monday Their eldest children, Ivanka and Donald Jr., as part of the investigation.

Trump a persecuted political opponent?

previous president America, with its team of lawyers, He says the investigation is politically motivated.

Or against taxes?

In the document, the attorney general’s team outlines the detailed account of a lengthy investigation into the allegations that Trump’s business group will have inflated asset values, in order to obtain favorable loan terms.

He is still accused of owning it Misrepresenting the value of the company’s property to reduce the tax burdenin the form of tax deductions.

For example, volume luxury apartment Former President of the United States at the Big Apple it will bein front of the IRS, Displayed as a distance three times the actual value, resulting in a benefit above 175 million euros For the Trump family, the attorney general claimed.

Friends, friends and business aside

Information is obtained through Testimonials from longtime Republican chief financial officer, Allen Weisselberg, accused of tax fraud last year.

Investigators at the prosecutor’s office, according to court documents, “developed significant additional evidence of this The Trump Organization has used fraudulent or misleading asset assessments to obtain various economic advantagesincluding loans, insurance coverage, and tax deductions.

Unconstitutionality: truth or escape (from justice)?

However, Trump’s defense may have tried to block subpoenasHe described it as an “unprecedented and unconstitutional maneuver”.

It is also mentioned that the Attorney GeneralLetitia James Inappropriately trying to obtain statements may Used in a parallel criminal investigationLed by Manhattan District Attorney Alvin Bragg.

Differences between Trump and James

Trump sued James in federal court in December 2021With the aim of putting an end to the investigation you are targeting.

In the lawsuit, Trump’s lawyers alleged that the attorney general, a Democrat, Rights violated Republican constitutional constitutions in “an attempt to publicly defame Trump and his associates”.

In the past, the former Republican president had already criticized the James and Bragg investigations as part of a “witch hunting”.

cheating and falsehood

The Attorney General’s team confirmed in a statement on Tuesday evening that it had not decided to file a lawsuit, but that this Evidence collected so far shows that the investigation must continue unhindered.

For more than two years, The Trump Organization has used delay and litigation tactics to try to prevent a legitimate investigation about their financial transactions,” says James, adding that “to date, in our investigation, we have discovered significant evidence indicating that Donald J.. “

While James’ civil investigation is separate from the criminal investigation, his team has been involved in both, putting several attorneys to work alongside Manhattan District Attorneys.

What could happen to the Trump Organization?

The New York Attorney General’s Office says that under state law, you can find a “wide range of [legais]Against companies that have committed commercial fraud.

These include “Revocation of the license to do business in the United States, removal of directors, refund and return of funds of illicit gain..

More Trump under scrutiny

Earlier, a judge would join Laetitia James to question another son of Trump, one of the leaders of the Trump Organization, Eric Trump, who eventually testified but refused to answer some questions.

last year, The Manhattan District Attorney has filed tax fraud charges against the Trump Organization and WeisselbergFormer Financial Director.

Both investigations, at least in part, Related to allegations in news reports and Trump’s former personal attorney, Michael Cohen, that Trump has a history of misrepresenting the value of assets.

The disclosure of the attorney general’s investigation came on the same day that a panel investigating the Capitol attack summoned Trump ally Rudy Giuliani and other members of the legal team who sought to nullify the results of the 2020 presidential election.

Evidence against the Trump family

In court documents, the James-led attorney general said the evidence shows that Trump Corporation:

– valued a property in Seven Springs, upstate New York, worth more than 256 million euros, on the dubious assumption that it could raise 142 million euros from the construction of nine luxury homes;

– adding a “premium” from 15% to 30% to the value of some real estate, due to the fact that it bears the name “Trump”, despite the financial statements expressly stating that it did not include the brand value;

Inflating the value of a golf club in a suburb of New York by millions of dollars, factoring in payments from club members that would never have been paid;

– Estimated the value of a Park Avenue apartment tower at more than €300 million, based on the income it could earn from unsold units, although many of these apartments are likely to sell for less because they are covered by rent-fixing laws;

– a rented apartment of Ivanka Trump was valued at 22 million euros, although she had the possibility to buy it for only 7.5 million euros;

– He said in the documents that his stake in an office building on 40 Wall Street will range between 463 million and 531 million euros, which is two to three times more than the estimate reached by experts.