Manhattan prosecutors are reportedly intensifying their investigation into the former President Trump
Donald Trump Trump promises ‘No more money for RINOS’ but instead encourages donations to his PAC. Federal judge rules ‘QAnon shaman’ too dangerous to be released from prison Pelosi says Capitol riot was one of the most difficult moments of her career MORE‘s businesses, in particular, his Seven Springs estate in New York.
Sources close to the case told The Wall Street Journal that the Manhattan district attorney’s office has issued new subpoenas in recent weeks to obtain recordings of government meetings related to the Seven Springs estate and the Trump Organization’s failed attempt to to create a luxurious subdivision of the property.
In January, it was reported that Manhattan District Attorney Cyrus Vance Jr. his investigation of the Trump Organization’s business dealings had expanded to include the Seven Springs estate. At the time, reports indicated that Vance was investigating whether the property’s value was inflated to increase a tax deduction obtained by donating 158 acres of the property for conservation.
Sources told the Journal that the district attorney’s office had also requested copies of the planning board meetings in Bedford, New York, one of the towns where the Seven Springs estate is located.
The Journal notes that Trump valued the Seven Springs real estate at $ 291 million in financial institutions in 2012. Pushing up the value of assets to obtain financial benefits is a criminal offense by the state, the outlet notes.
In the paperwork of the financial disclosure while he was president, Trump valued the property at between $ 25 million and $ 50 million, the Journal reports, while local tax bills list the property’s value at approximately $ 19 million.
The Trump ownership investigation is part of a larger investigation being conducted by the Manhattan DA office into potential tax, insurance and banking fraud, the Journal reports. Prosecutors are also reportedly investigating a loan for the Trump International Hotel and Tower Chicago.
In February, it was reported that the DA’s office in Manhattan had received Trump’s tax returns from Trump’s accounting firm, Mazars USA. Trump had tried to block the subpoena for the tax return, but the Supreme Court ruled against his argument that presidents have far-reaching immunity from criminal trial.