New York Attorney General Letitia James’ office is seeking testimony from Trump, his son Donald Trump, Jr. and his daughter Ivanka Trump regarding “misleading statements and omissions” in tax submissions and financial statements.
Investigators included the allegations in a court filing late Tuesday. The filing said the attorney general’s office “intends to make a final determination about who is responsible for those misstatements and omissions.” To do so, the office requires testimony and evidence.
These alleged “misleading statement and omissions” were related to: the size of Trump's penthouse in Trump Tower; miscategorized assets that would overstate Trump’s liquidity; the process by which Trump or his associates reached valuations, including deviations from generally accepted accounting principles without disclosure; the purported involvement of “outside professionals” in reaching the valuations and more.
James’ office said that the alleged misleading statements were shared with lenders. The office also said it has evidence indicating Trump may have obtained more than $5 million in federal tax benefits from allegedly misleading valuations.
Investigators claim the misleading statements would make Trump’s net worth appear higher than it would have otherwise.
“Witnesses closest to the top of the Trump Organization have asserted their Fifth Amendment rights against self-incrimination. Certain others have professed faulty memories or asserted that they were following instruction from more senior employees,” said investigators.
Investigators said around a dozen current and former Trump Organization employees have testified. James’ office also said that Trump hasn’t complied with subpoenas for records.
“The only one misleading the public is Letitia James,” a Trump spokesperson said in the statement Wednesday, according to Business Insider. “She defrauded New Yorkers by basing her entire candidacy on a promise to get Trump at all costs without having seen a shred of evidence and in violation of every conceivable ethical rule.”
“Mr. Trump's actual knowledge of — and intention to make — the numerous misstatements and omissions made by him or on his behalf are essential components to resolving OAG's investigation in an appropriate and just manner,” according to the Tuesday filing. “Likewise, Donald Trump, Jr. and Ivanka Trump worked as agents of Mr. Trump, acted on their own behalves, and supervised others in connection with the transactions at issue here; their testimony is necessary for appropriate resolution of OAG's investigation as well.”
Ivanka Trump served as a liaison with lender Deutsche Bank and Donald Trump Jr. was involved in several properties, including 40 Wall Street, and certified the accuracy of the financial statements since 2017, the attorney general's office said.
“No one in this country can pick and choose if and how the law applies to them,” James tweeted.
James’ office has been conducting a civil investigation into the Trump Organization since 2019. Trump has called it a political witch hunt.
A spokesperson for the Trump Organization said in a statement Wednesday that the “allegations are baseless and will be vigorously defended,” according to CNN Politics.
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