Supreme Court Rejects Trump’s Final Bid To Hide Financial Records
Time’s up for Donald Trump’s effort to keep his financial records out of prosecutors’ hands. The Supreme Court on Monday rejected the last-ditch bid by the twice-impeached former president to keep hiding his financial records from New York investigators. The court issued a brief, unsigned order that requires Trump to turn over his tax and other financial records to prosecutors, ending a protracted legal effort and handing Trump a decisive legal defeat.
Manhattan District Attorney Cyrus R. Vance Jr. had subpoenaed Trump’s records from the accounting firm Mazars USA in connection with a wide-ranging investigation of Trump’s finances. The firm previously has said it will comply with the final ruling of the court, which means the New York grand jury should receive those financial records in short order.
In response to the Supreme Court decision, Vance issued the three-word statement, “The work continues.”
Vance has not confirmed the exact scope of his office’s investigation of Trump, but it has been reported among the issues is Trump’s avoidance of paying and underpayment of federal income taxes over the past decade. The New York Times obtained a number of the developer’s tax documents and reported that in both 2016 and 2017 – as he was running for and won the presidency – Trump paid just $750 in federal income tax.
The Manhattan DA’s office is thought to be investigating Trump for committing bank and insurance fraud. His former “fixer” Michael Cohen has testified before Congress that Trump routinely would inflate the value of his New York City holdings for purposes of obtaining loans, but then drastically devalue the same properties on tax returns.