New York AG says Trump's company misled banks, tax officials

Donald Trump
Posted at 12:22 AM, Jan 19, 2022

The New York attorney general's office says its civil investigation has uncovered evidence that former President Donald Trump's company used "fraudulent or misleading" asset valuations to get loans and tax benefits.

In a court filing late Tuesday, Attorney General Letitia James' office said evidence showed that the Trump Organization routinely misrepresented the value of its properties and golf clubs in financial statements.

James submitted the filing to the court in the hopes of compelling Trump and other high-ranking Trump Organization officials to comply with subpoenas connected to the investigation.

The filing said investigators haven't yet decided whether to bring a civil lawsuit connected to the allegations, but they want to question Trump as part of the probe.

In a press release, James claimed Trump "had ultimate authority over a wide swath of conduct by the Trump Organization" that involved fraud,

"Since 2017, Donald Trump, Jr. has had authority over numerous financial statements containing misleading asset valuations," James wrote.

James also alleged that the president's two oldest children, son Donald Trump Jr. and daughter Ivanka, had a role in fraudulent activities.

Earlier this month, James formally subpoenaed Trump, Trump Jr. and Ivanka Trump in "connection with an investigation into the valuation of properties owned or controlled" by Trump and his company.

The subpoena was issued about a week after James formally requested cooperation from the Trumps.

Trump's second-oldest son, Eric, has already spoken with state investigators. He sat for a deposition in October, according to Bloomberg.

Trump's lawyers say the investigation is politically motivated. Last month, Trump filed a lawsuit against James in an attempt to end the investigation.