US President Donald Trump’s company must give New York State’s chief prosecutor access to financial documents, the New York State Supreme Court ruled Monday.
The prosecution is investigating the Trump Organization’s property valuations. The latter failed to argue that the documents are confidential because they were part of the correspondence between an engineer and a former company lawyer.
New York chief prosecutor Letitia James is trying to determine whether the president’s real estate company has tampered with the value of the properties to qualify for loans and tax breaks. According to the Trump Organization, the inquest is politically motivated, and the company has done nothing wrong.
The investigation is one of the biggest threats to Trump when he leaves the White House on Jan. 20. Trump and his company are also under investigation by the Manhattan District Attorney. He recently summoned Deutsche Bank and insurer Aon in connection with that criminal investigation.
New York chief prosecutor James sued the Trump Organization in August after it refused to comply with a subpoena requesting documents about real estate transactions. Donald Trump’s son Eric also declined to give testimony.
Tuesday’s ruling concerned correspondence between a Trump Organization attorney and an engineer who carried out work used in the appraisal of the Seven Springs estate, just outside New York. The prosecution wants to know if Trump’s company was honest about the value of the estate when it gave up the sum of $ 21.1 million to qualify for a tax break.
The investigation began the following testimony before Parliament by Trump’s former attorney Michael Cohen, who accused Trump and his company of all kinds of financial malpractice. Trump’s skyscraper on Wall Street and his hotel in Chicago are part of the investigation.