Manhattan prosecutors are stepping up their investigation into former President Trump
Donald Trump Trump swears ‘Enough of money for RINOS’ instead of encouraging donations to his PAC Federal judge considers ‘QAnon shaman’ too dangerous to be released from prison Pelosi says rioting on Capitol Hill was one of the most difficult times of his career. MOSTcompany’s business, in particular its property in Seven Springs, New York.
Sources close to the matter told The Wall Street Journal that the Manhattan district attorney’s office had issued new subpoenas in recent weeks to obtain recordings of government meetings related to the Seven Springs property and the Trump Organization’s unsuccessful attempt to create a subdivision of luxury off the property.
In January, Manhattan district attorney Cyrus Vance Jr. was reported to have expanded his investigation into the Trump Organization’s business to include the Seven Springs estate. At the time, reports indicated that Vance was investigating whether the property’s value had been inflated in order to increase the tax deduction obtained by donating 158 acres of the property for conservation.
Sources told the Journal that the DA’s office had also requested copies of meetings of the planning council in Bedford, NY, one of the cities where the Seven Springs property is located.
The newspaper notes that Trump valued the property at Seven Springs at $ 291 million in 2012 for financial institutions. Inflating the value of assets to obtain financial benefits is a state criminal offense, notes the vehicle.
In the financial disclosure paper when he was president, Trump valued the property between $ 25 million and $ 50 million, reports the Journal, while local tax assessment lists list the property’s value at about $ 19 million.
The investigation into Trump’s property is part of a larger investigation being conducted by the DA’s Manhattan office, investigating possible tax, insurance and banking fraud, as the Journal reports. Prosecutors are also looking for a loan for the Trump International Hotel and Tower Chicago.
In February, it was reported that the DA’s Manhattan office had obtained Trump’s tax returns from Trump’s accounting firm, Mazars USA. Trump tried to block the subpoena for tax returns, but the Supreme Court ruled against his argument that presidents have full immunity from criminal prosecution.