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Trump Foundation under investigation

Trumps tangled treasures now under criminal investigation: NY Attorney General

The New York Attorney-General’s office says it has formally opened a criminal investigation into the Trump Organisation.

Officials are investigating $360 million in loans taken out for properties linked to former president Donald Trump as their criminal probe continues.

The New York Attorney-General’s office say it has opened a criminal investigation into the Trump Organisation.

“We have informed the Trump Organisation that our investigation into the organisation is no longer purely civil in nature. We are now actively investigating the Trump Organisation in a criminal capacity, along with the Manhattan DA,” said a statement from spokesman Fabien Levy.

The organisation is the holding company of hundreds of Mr Trump entities, ranging from hotels to golf courses.

Mr Trump exaggerated the value of his real estate assets to obtain loans and better terms from insurance companies, as well as to boost his ranking on the Forbes 400, but deflated them to pay lower real estate taxes, Mr Cohen claimed in 2019.

The new criminal probe is the second one Mr Trump is now facing in New York. Manhattan District Attorney Cyrus Vance Jr. is investigating Mr Trump’s tax records.

That inquiry, according to court filings, includes an examination of whether Mr Trump or his businesses lied about the value of assets to gain favourable loan terms and tax benefits.

The district attorney also is looking at hush-money payments paid to women on Mr Trump’s behalf.

Mr Vance’s office is now in possession of eight years of Mr Trump’s tax records, including final and draft versions of tax returns, source documents containing raw financial data and other financial records held by his accounting firm.

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about:blank Mr Trump, who left the White House in January, denies wrongdoing and has previously described a separate investigation into his finances by the Manhattan District Attorney as “a continuation of the greatest political witch hunt in the history of our country.”

Bolstering its geriatric “B Team” the Trump Organisation in April hired veteran criminal defence attorney, 84-year-old Ronald Fischetti.

Dash Editor

Self-confessed confused news junkie, with lifelong additions to coffee, great conversations, perfection in all its forms, cold wine, hot music and puppy dogs.

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