October 25, 2021

The Queens County Citizen

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New York AG seeks to depose Eric Trump in investigation of Trump’s funds

New York AG seeks to depose Eric Trump in investigation of Trump's finances

In court docket filings Monday, Letitia James’ office environment said Eric Trump to begin with agreed to sit for a deposition on July 22, only to refuse, “balking fewer than two days prior to he was scheduled by agreement to give testimony.”

James’ workplace outlined the scope of the investigation into whether or not the Trump Firm “improperly inflated the worth of Mr. Trump’s property on economical statements in purchase to safe financial loans and obtain financial and tax benefits.”

The legal professional general’s business office has been investigating President Donald Trump and the Trump Corporation due to the fact 2019, when Trump’s previous lawyer Michael Cohen testified in advance of Congress that Trump’s once-a-year economical statements inflated the values of his property in get to protected favorable financial loans and insurance policies protection, but deflated the benefit of other assets in order to cut down authentic estate taxes.

In the submitting, James’ place of work states Eric Trump’s attorney despatched a letter to the attorney common stating he would invoke “these legal rights afforded to just about every personal underneath the Structure” as justification not to testify.

CNN has reached out to an attorney for Eric Trump for remark.

Alan Garten, main authorized officer for the Trump Organization, downplayed the enhancement.

“There has been no lawsuit submitted by the NY Lawyer Standard,” Garten mentioned. “This is basically a discovery dispute in excess of paperwork and the like. As the motion papers evidently point out, the NY AG has produced no perseverance that anything was improper or that any motion is forthcoming. We will reply to this motion as suitable.”

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James’ business also seeks a decide to compel testimony from other witnesses and documents.

Allen Weisselberg, the chief financial officer of the Trump Organization, testified about two times in July. Trump’s extensive-time tax legal professional Sheri Dillon was also deposed but the point out suggests she declined to solution sure concerns.

Quite a few Trump Organization properties’ money dealings are being scrutinized as portion of the investigation including 7 Springs Estate in Westchester County New York, 40 Wall Street, a creating in Reduce Manhattan, Trump Intercontinental Hotel and Tower Chicago, and Trump Nationwide Golfing Club in Los Angeles.

The filings allege, among other matters, that Trump has omitted the Trump International Lodge and Tower Chicago from his monetary statements considering the fact that 2009, and that in 2010, Fortress Credit Company agreed to forgive much more than $100 million of the $150 million that was owed on the financial loan, as component of a discounted loan prepayment arrangement. The submitting states that the sum of income that was forgiven “may perhaps have been a taxable function to the borrower,” and aspect of James’ investigation is to establish if Trump mentioned that on his tax returns.

This tale has been up to date with particulars of James’ filing.