NY AG Letitia James to Force Trumps to Testify in Court, after she Finds Evidence of Their Financial Wrongdoing

By Yehudit Garmaise

New York Attorney General Letitia James, who said she has “uncovered significant evidence” that the Trump Organization purposely misrepresented the values of its properties for its own financial benefits for years, has taken “legal action to force Donald Trump, Donald Trump, Jr., and Ivanka Trump to comply with our investigation,” the AG tweeted this morning.

James has long sought to question Trump under oath in a civil fraud investigation, which is in addition to a criminal investigation into Trump’s business practices that was launched by Cyrus Vance, Jr., the former Manhattan district attorney, who was just replaced by Alvin Bragg.

The New York Times reported in December that if James, in her civil inquiry, found evidence of wrongdoing in the Trumps’ business practices, she could file a lawsuit against Trump, but she could not file criminal charges.

James now says that she has gathered considerable evidence that the Trump Organization “used fraudulent and misleading asset valuations on multiple properties to obtain economic benefits, including loans, insurance coverage, and tax deductions, for years."

James’ evidence centers on annual financial statements sent to insurers and accountants by the former president’s business, whose records do not match the financial statements that outside companies use to determine Trump’s financial condition.

James alleges, for instance, that Trump overstated the size of his Trump Tower penthouse, failed to use basic valuation techniques, and misrepresented assets outside the Trump Organization’s control as “cash.”

Last month, when James filed a motion to subpoena Trump and his children to appear in court, the Trumps refused to testify and attempted to cancel their legal obligations to do so.

In 2019, James launched her investigation into the Trump Organization after former Trump lawyer and “fixer” Michael Cohen testified that Trump exaggerated the value of his companies’ assets to obtain better terms for loans and insurance policies.

On December 12, 2018, Cohen was sentenced to serve three years in federal prison and ordered to pay a $50,000 fine after he pled guilty to tax evasion and campaign finance violations he committed while working for Trump.

“Donald Trump, Donald Trump, Jr, and Ivanka Trump have all been closely involved in the transactions in questions, so we won’t tolerate their attempts to evade testifying in this investigation,” James wrote. “No one is this country can pick and choose [whether] and how the law applies to them.

“We will not be deterred in our efforts to continue this investigation, uncover the facts, and pursue justice, no matter how many roadblocks Mr. Trump and his family throw in our way.”

Photo by: unplash