Fresno, California 2022-01-19 07:36:48 –
According to court filings, state officials have not yet decided whether to file a civil suit in connection with the allegations, but investigators need to ask Trump and his two eldest sons as part of the investigation. ..
Trump and his lawyer say the investigation is a political motive.
In court documents, Attorney General Letitia James’s office exaggerated the value of the property for Trump’s company to obtain favorable loan terms, or which land was worth to reduce the tax burden. We have provided the most detailed accounting to date for a long-term investigation of allegations of misunderstanding.
The Trump Organization said it exaggerated the value of land donations made in New York and California with respect to the documents submitted to the IRS to justify the multi-million dollar tax deduction.
James’s office cites testimony from Trump’s longtime financial officer Allen Weisselberg, who was charged last year, saying that Trump’s Manhattan Penthouse is nearly three times the size of the actual size. Falsely reported-a tax fraud in a parallel criminal investigation with a value difference of about $ 200 million.
James’s office elaborated on the findings in a court motion demanding that Trump, his daughter Ivanka Trump, and his son Donald Trump Jr. follow a subpoena seeking testimony.
According to court documents, investigators said, “It is important to show that the Trump Organization used fraudulent or misleading asset valuations to gain many financial benefits, such as loans, insurance coverage, and tax credits. We have developed additional evidence. “
A message asking for comment was left to Trump’s lawyer.
Trump’s legal team has sought to thwart the subpoena, calling it an “unprecedented unconstitutional operation.” They say James is being overseen by Manhattan District Attorney Alvin Bragg and trying to improperly obtain testimony that could be used in parallel criminal investigations.
Trump sued James in federal court last month and demanded that her investigation be put to an end. In the proceedings, his lawyer alleged that the Attorney General, a Democrat, violated the Republican constitutional rights with “a thinly obscured effort to publicly abuse Trump and his associates.”
In the past, a former Republican president has accused James and Bragg’s investigation as part of a “witch hunt.”
In a statement late Tuesday, the James office said it had not decided whether to take legal action, but the evidence collected so far should proceed unimpeded. He said it shows that.
“For more than two years, the Trump Organization has used delayed tactics and proceedings to thwart legitimate investigations into its financial transactions,” James said. “Important evidence suggesting that in previous studies, Donald J. Trump and the Trump Organization misrepresented multiple assets and misrepresented their value to financial institutions for financial gain. I found. “
James’s civil investigation is separate from criminal investigation, but her office is involved in both and has dispatched several lawyers to work alongside prosecutors in the Manhattan DA office. ..
James’s office said that under state law, companies that were found to have committed commercial fraud could be sought for “broad remedies.” The number of directors, and the return and criticism of the profits that were not obtained. “
In court documents, James’s office said the evidence showed that Trump’s company was:
-Based on the suspicious assumption that building nine luxury homes can earn $ 161 million, his Seven Springs property north of New York City is worth $ 291 million. Listed.
-Added 15% to 30% “Brand Premium” to the value of some properties. This is because it is named after Trump, even though it explicitly indicates that the financial statements do not include brand value.
-Increased the value of golf clubs in the suburbs of New York by millions of dollars by counting the fees of unsold or unpaid members.
-Park Avenue condo towers are worth $ 350 million and could come from unsold units, but many of those apartments are subject to the Rent Stabilization Act and may sell cheaper. ..
-Even if Ivanka Trump had the option to buy for $ 8.5 million, he said he was renting an apartment for as much as $ 25 million.
-According to the document, the investment in the office building at 40 Wall Street is worth $ 525 to $ 602 million, from twice the estimate of an appraiser working at lender Capital One. It was three times.
A judge previously upheld James with a previous request to ask another Trump’s son, Eric Trump, an executive of the Trump organization.
Last year, the District Attorney of Manhattan filed a tax evasion charge against the Trump Organization and its longtime chief financial officer, Weisselberg.
Weisselberg pleaded not guilty to alleging tax evasion for the favorable benefits paid to executives by him and the company.
Both investigations are at least partially related to the allegations made in the news report and the allegations made by former Trump lawyer Michael Cohen that Trump has a history of misrepresenting the value of assets. ..
Disclosure of the Justice Secretary’s investigation was given by a House committee investigating the riots of the U.S. Capitol by Trump’s ally Rudy Giuliani and other members of the legal team who tried to overturn the outcome of the 2020 presidential election. It took place on the same day it was done.
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New York Attorney General Letitia James accuses Donald Trump’s company of using ‘fraudulent or misleading’ practices Source link New York Attorney General Letitia James accuses Donald Trump’s company of using ‘fraudulent or misleading’ practices