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What NY prosecutors could learn from Trump’s tax records – Cleveland, Ohio

Cleveland, Ohio 2021-02-23 17:20:20 –

New York (AP) — Manhattan District Attorney Cyrus R. Vance Jr. fought for a year and a half to gain access Former President Donald Trump Tax record.

Now thanks Supreme Court of the United States Decision, He has them right away. But what does that mean for a Democratic grand jury investigation into Trump’s commerce?

Former prosecutors say the pile of records could give investigators a new tool to determine if Trump lied to lenders or tax authorities before or after Trump took office.

“Prosecutors look for paperwork discrepancies. For example, if Trump tells the IRS he’s broken, he’s rich and that’s just the type of contradiction they can sue.” Former federal prosecutor Duncan Levin, who worked on a wide range of white-collar cases as Vance’s chief, said asset forfeiture.

“These documents are a very important part of the jigsaw puzzle,” Levin said.

It is unclear whether Trump’s records contain evidence of the crime. For years, the former Republican president has claimed that he hasn’t broken the law. Unfairly targeted By the Democratic Party for political reasons.

Here are some places where tax records may be useful and some where they may not be very useful in a district attorney’s investigation.

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More than just a return

Trump has made extraordinary efforts to keep federal income tax returns private, but that’s not the only valuable document contained in this transport.

Mothers USA, Trump’s accounting firm, has not only the final version of Trump’s tax returns, but also draft versions of those returns and “all financial statements, annual financial statements, periodic financial reports, and An independent auditor is to be submitted. “Report” owned by the company.

The Mothers Subpoena also sought a contract defining the role of an accountant in preparing tax returns and financial statements. A source document that provides accountants with raw financial data. And work papers and communication between the company and Trump representatives. They include communication that shows how the raw data was analyzed and processed in the creation of records.

It may give state prosecutors an “open book” to Trump’s finances, said Adam D. Citron, a former state prosecutor and partner of Davidoff Hatcher & Citron. “It’s really a kitchen sink.”

Examining these other documents is to determine if Trump or his company provided tax authorities with information about his income that was different from what he presented to other officials such as banks and business partners. It can be the key.

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Stop fee

When the district attorney’s investigation first began, one of the first subpoenas sent to the Trump organization was Michael Cohen, a former Trump lawyer who arranged for a woman who claimed to have had an out-of-marriage sexual encounter with Trump. I asked for information about Cohen’s payment.

Cohen said Trump’s company Later refunded to him As one of those payments, I disguised myself as adult movie actress Stormy Daniels in the form of statutory costs.

However, it is not clear whether Trump’s tax records will add much to that part of the investigation. Having obtained years of Trump tax data, the New York Times said there was “no new revelation” regarding payments to Daniels and did not include itemized payments to Cohen.

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Tax reduction

The District Attorney’s Office is investigating some of the arrangements Trump has made to reduce his tax bill. Revenue data can be essential in analyzing whether any of these operations have crossed legal boundaries.

One of the breaks during the scrutiny was what Trump got Donated part of Seven Springs real estate, North of New York City, to a protection trust. Some experts question whether Trump overestimated the land to take a bigger break than he deserved.

Investigators have already summoned and received many documents related to land transactions. Trump has benefited from a similar conservation donation in California.

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Statement to the lender

Vence’s office has not revealed the full nature of the investigation. However, the prosecution pointed out a news article questioning whether Trump had chronically exaggerated the value of assets to banks and insurance companies. The Associated Press last month at the Vence office Cohen recently interviewed For hours, I asked about Trump’s relationship with his biggest and longest creditor, Deutsche Bank.

In a Washington Post article quoted by a prosecutor, various financial information from the Trump Organization includes the number of residential areas sold on the California Golf Course, the area of ​​one of his vineyards, and the number of articles on the Trump Tower. I elaborated on how it was inflated, but excluded information about his debt. Hotel projects in Chicago and Las Vegas.

The tax record is just one tool that prosecutors use to find out if any of these statements are fraudulent.

“They will consider valuations and asset values,” Citron said of the state prosecutor. “They look at the lawyer’s bill to see what their costs were.”

Monday’s ruling does not guarantee that the public will be able to see Trump’s financial records. For now, they are protected by a grand jury secret rule. Even if prosecuted in a proceeding, those documents may be significantly edited if submitted to records.

“Still, I’m sure there are a lot of proceedings about it,” Citron said.

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