After Michael Cohen’s testimony to Congress in February 2019, the New York Attorney General began investigating whether Donald Trump, as Cohen testified, had inflated his net worth to lenders. And now, because the Trump organization isn’t cooperating with the investigation, AG Letitia James is suing. The Washington Post reports:
“In the filing, signed by a deputy to Attorney General Letitia James, the attorney general’s office said it is investigating Trump’s use of “Statements of Financial Condition” — documents Trump sent to lenders, summarizing his assets and debts.
“The filing asks a New York state judge to compel the Trump Organization to provide information it has been withholding from investigators — including a subpoena seeking an interview with the president’s son Eric.“
So far, Eric has refused to testify. He had been scheduled to be interviewed in late July but canceled and has refused to reschedule. According to the Post, many of the details were left out or redacted from the filing.
But it mentioned valuations of three Trump properties: a Los Angeles golf course, an office building at 40 Wall St. and a country estate called “Seven Springs” in Westchester County, N.Y.
“Last year, The Washington Post reported that Trump had inflated the potential sale value of the Seven Springs property in a “Statement of Financial Condition” — a type of document he sent to potential lenders to demonstrate his wealth. In 2011, Trump’s statement claimed that the property had been “zoned for nine luxurious homes,” and that the value of those home lots raised the value of the overall property to $261 million — far more than the $20 million assessed by local authorities. Local officials said Trump had received preliminary conceptual approval for those homes, but never completed the process or obtained final zoning permission. The homes were never built.”
The District Attorney in Manhattan is also leading an investigation into the Trump organization.
