The Manhattan District Attorney’s Office recently sued a New York real estate tax authority for conducting a criminal investigation into former President Trump
Donald Trump UN report says Erik Prince violated arms embargo on Libya: Lee report after Romney impeachment vote: There is plenty of room in GOP ‘for both of us’ Nunes lawsuit against CNN thrown out MOREcompany for potential tax fraud, Reuters said.
The New York City Tax Commission confirmed to the news outlet on Friday that it had been subpoenaed, an indication that Manhattan District Attorney Cy Vance Jr. may be looking for Trump’s real estate tax returns and loan documents.
Investigators looking at Trump’s company can now review the IRS documents alongside previously subpoenaed documents from Trump’s creditors to determine whether the former president inflated his property value in an effort to get more favorable loans while taking lower records values to decrease its value. taxes on the same properties, Reuters reported.
With the subpoena, the news outlet noted, the New York City Tax Commission may be more inclined to provide the court with detailed Trump Organization income and expense statements filed with the intent of lowering taxes on commercial real estate. including Trump Tower and Trump Plaza.
Vance’s office declined to respond to the outlet’s request for comment.
Reuters reported that court documents have stated that Vance’s office is “investigating potentially extensive and long-term criminal behavior” at the Trump Organization.
Vance’s investigation is reportedly the only known criminal investigation into Trump’s real estate transactions. New York State Attorney General Letitia James has led a civil investigation into whether Trump’s company has reported false property values to get tax breaks, the outlet reported.