Though his presidency ended in disgrace, Donald Trump is one of the most influential republicans. His political apparatus has allegedly raised $115 million, which would be a considerable advantage if Trump decides to run for a 2nd presidential term in the 2024 election. On the other hand, Trump and his family face severe legal problems including fraud allegations.
New York Attorney General Letitia James recently disclosed her civil investigation into the former president’s business. She said that the probe had uncovered evidence suggesting the fraudulent valuing of multiple assets and misrepresentations of those values to financial institutions for economic benefit.
James, who launched her probe in 2019, also said in the court filing that the former president “had ultimate authority over a wide swath of conduct by the Trump Organization involving misstatements to counterparties, including financial institutions, and the Internal Revenue Service.”
She further referenced two of the former president’s adult children, Donald Trump Jr. and Ivanka Trump. According to the court filing, Donald Trump, Jr., legal representative of the Trump Organization, is responsible for numerous financial statements containing misleading asset valuations.
On the other hand, Ivanka Trump would have been a primary contact for the Trump Organization’s largest lender, Deutsche Bank. Allegedly, she caused misleading financial statements to be submitted to Deutsche Bank and the federal government.
James said that her investigation would have uncovered significant evidence that suggests Donald Trump and the Trump Organization falsely and fraudulently valued multiple assets and misrepresented those values to financial institutions for economic benefit.
In early December 2021, Letitia James issued a subpoena for Donald Trump as well as for Donald Trump Jr. and Ivanka Trump, seeking to question them as part of her civil inquiry.
The Trump Organization is already faced with an indictment. In July 2021, the former Manhattan district attorney, Cyrus R. Vance Jr., charged the company and its former CFO Allen H. Weisselberg with carrying out a 15-year scheme to dole out off-the-books luxury perks to certain executives. That case is scheduled to head to trial later this year.