The Manhattan District Attorney’s Office recently subpoenaed a New York City property tax agency as it intensifies a criminal investigation into President Trump
Donald TrumpUN report says Erik Prince violated arms embargo against Libya: Lee report after Romney impeachment vote: There is enough space in the Republican Party ‘for both of us’ Nunes lawsuit against CNN is rejected MOREof the company for potential tax fraud, according to Reuters.
The New York City Tax Commission confirmed to the media on Friday that it had been summoned, an indication that Manhattan District Attorney Cy Vance Jr. may be looking to evaluate Trump’s property tax records and loan documents.
Investigators investigating Trump’s business will now be able to examine the tax agency’s documents, in addition to the previously subpoenaed records of Trump’s creditors to determine whether the former president inflated his property value in an effort to obtain more favorable loans while recorded lower amounts to reduce its taxes on the same properties, Reuters reported.
With the subpoena, the media noted, the New York City Tax Commission may be more inclined to provide courts with the Trump Organization’s detailed statements of income and expenses, presented with the intention of reducing commercial property taxes, including Trump Tower and Trump Plaza.
Vance’s office refused to respond to the agency’s request for comment.
Reuters reported that court records stated that Vance’s office is investigating “possibly extensive and prolonged criminal conduct” at the Trump Organization.
Vance’s investigation is reportedly the only known criminal investigation into Trump’s real estate business. New York State Attorney General Letitia James conducted a civil investigation into whether or not Trump’s company disclosed false property values to obtain tax incentives, the vehicle said.