The Manhattan District Attorney’s Office has issued a New York tax subpoena as part of an investigation into ex-President Donald Trump’s company real estate transactions, Reuters reported.
Earlier, the Wall Street Journal, citing informed sources, reported that prosecutors in New York are checking financial transactions related to the real estate of former US President Donald Trump in Manhattan. Prosecutors are examining the loans Trump took for his Trump Tower, Wall Street skyscraper also known as Trump Building, Trump International Hotel and Trump Plaza residential building.
According to the agency, together with information previously required from creditors, tax documents will help investigators determine whether the company has inflated the value of its properties in order to provide favorable terms on loans, while reducing the price of these same properties in order to lower the tax burden.
The subpoena is likely to require tax officials to provide detailed income statements filed by the Trump Organization, agency sources said.
Earlier it was reported that at least two creditors of Trump’s company, Deutsche Bank AG and Ladder Capital Finance LLC, also received a summons in this case.
Last year, a grand jury in a case led by Manhattan District Attorney Cyrus Vance requested the Trump Organization’s financial records for the past eight years. Vance has previously stated that he is conducting a criminal investigation into Trump’s financial affairs with the aim of uncovering potential violations of state laws. In August, the court refused to consider a petition by Trump’s lawyers to ban access to his financial documents.
Trump’s financial documents, primarily his tax returns, became the subject of intrigue during the 2016 election campaign. In contrast to established practice, Trump did not make public information about his financial affairs, citing the fact that his business and declarations are undergoing financial audits.