NY AG Office Files Subpoenas Seeking Trump Organization’s Records
The New York attorney general’s office sent out a wide swath of subpoena requests to lenders associated with the Trump Organization, the business formally owned by President Donald Trump and supposedly managed by his family, late on Monday.
The office of Attorney General Letitia James sent out the requests to Deutsche Bank, one of the few remaining lenders to work with Trump in recent years, as well as Investors Bank. The investigation appears to be a civil one, according to reporting from the New York Times, which broke the story.
The investigation’s scope is not yet known at this time, additional reporting from Bloomberg noted.
NEW: The New York A.G.'s office has issued subpoenas to Deutsche Bank and Investors Bank for records relating to the financing of four major Trump Organization projects and a failed effort to buy the Buffalo Bills, a person briefed tells NYT.https://t.co/0XTkrIakWf
— Kyle Griffin (@kylegriffin1) March 12, 2019
The subpoenas are looking into records related to financing for several major Trump Organization projects, including purchasing of the Buffalo Bills NFL team, as well as loan applications and mortgages for Trump International Hotel in Washington, Trump International Hotel and Tower in Chicago, and Trump Doral in Florida.
The subpoena requests came about as a result of testimony given last month in Congress by former Trump lawyer Michael Cohen, who testified that Trump frequently sought to raise perceptions of his own net worth “when it served his purposes, such as trying to be listed among the wealthiest people in Forbes,” the AP reported. Trump also made attempts to raise portraits of his worth in order to obtain a loan in an attempt to purchase the Buffalo Bills, Cohen explained.
Lying on financial forms in order to better your chances for loans is a civil crime, and in New York state the attorney general has broad authority to deal with such matters, including levying huge fines on corporations found in violation of such laws. In extreme circumstances, the Times noted, the AG even has the authority to break up businesses found to be in violation of those laws.