Manhattan DA subpoenas tax agency in criminal investigation into Trump: Reuters
The Manhattan District Attorney’s Office recently subpoenaed a New York City property tax agency as it expedites a criminal investigation into former President Trump’s company for potential tax evasion, according to Reuters.
The New York City Tax Commission confirmed to the outlet on Friday that it has been subpoenaed, indicating that Manhattan District Attorney Cy Vance Jr. may seek to assess tax returns and documents loan from Trump.
Investigators investigating Trump’s affairs will now be able to look at tax agency documents in addition to previously subpoenaed records from Trump’s creditors to determine whether the former president inflated the value of his property in an effort to obtain more favorable loans while registering lower values to reduce its taxes for the same properties, reported Reuters.
With the subpoena, the outlet noted, the New York City Tax Commission may be more willing to provide the courts with detailed statements of Trump Organization income and expenses filed in an attempt to reduce taxes. on commercial properties, including Trump Tower and Trump Plaza.
Vance’s office declined to respond to the outlet’s request for comment.
Reuters reported that court documents said Vance’s office was investigating “possibly extensive and prolonged criminal conduct” within the Trump Organization.
Vance’s investigation is believed to be the only known criminal investigation into Trump’s real estate dealings. New York State Attorney General Letitia James has conducted a civil investigation into whether or not Trump’s company reported false property values in order to obtain tax breaks, the outlet reported.