Manhattan District Attorney subpoena to New York property tax agency in Trump Organization investigation

“The New York City Tax Commission has received a subpoena from the Manhattan District Attorney regarding Trump Organization properties,” Laura Feyer, spokesperson for the mayor of New York, who also speaks on behalf of from the office of the property tax agency.

Reuters first reported on the summons.

Feyer did not comment further on the matter. Manhattan District Attorney’s Office Cy Vance declined to comment. CNN has contacted the Trump Organization for comment.

Vance’s office is investigating whether the Trump organization has violated state laws, including insurance fraud or tax evasion. His team of prosecutors are investigating what the Trump Organization has told lenders and tax authorities about the value of its assets and the legality of tax deductions, including conservation easements and consulting fees the company has taken.

The Trump Organization maintained that it had complied with all laws. The company’s general counsel, Alan Garten, told the New York Times last year that “everything was done in strict compliance with applicable law and under the advice of lawyers and tax experts” and that “All applicable taxes have been paid and no party received to benefit.”
Vance’s investigation, which began in earnest in August 2019, includes allegations by former Trump attorney Michael Cohen that the Trump Organization inflated assets when seeking loans and deflated them when it was time to seek loans. pay taxes. CNN previously reported that investigators interviewed Cohen on multiple occasions, including as late as this week.

Investigators are also looking at many loans taken out by the Trump Organization, including those from Deutsche Bank and Ladder Capital, CNN reported this week.

Meanwhile, prosecutors are awaiting a Supreme Court ruling on a grand jury subpoena to Trump’s accounting firm, Mazars USA, for his financial records, including his tax returns.

The subpoena issued to the New York City Tax Commission, which reviews annual property tax assessments prepared by the Department of Finance, is a further sign that prosecutors are looking to see if Trump’s firm has induced the local tax authorities in error on the value of its properties.

The New York City Tax Commission reviews requests to correct tax assessments and whether claimants have been wrongly denied a property tax exemption.

A separate civilian investigation into the Trump Organization is being led by the office of New York Attorney General Letitia James.

Esther L. Steinbach