New York Prosecutors Investigate Financial Fraud by Trump on Personal and Corporate Levels
First Mention of Financial Fraud Investigation Alongside Sexual Harassment Cover-Up Allegations
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[Asia Economy New York=Correspondent Baek Jong-min] The New York prosecutor's office has revealed for the first time that it is investigating the possibility that President Donald Trump and his company committed financial and insurance fraud.
The New York Times (NYT) reported on the 3rd (local time) that Cyrus Vance Jr., the Manhattan District Attorney, stated in a document submitted to the court that last year's media reports on President Trump's business practices, described as "beyond dispute," clearly provide the legal basis for the demand for President Trump's tax records.
NYT added that the articles cited by the prosecution as evidence are "about extensive and long-standing criminal conduct within the Trump Organization."
Also, NYT reported that the articles identified by the prosecution contain allegations that President Trump may have illegally inflated his net worth and real estate values to financial institutions and insurance companies. Previously, NYT and other U.S. media outlets reported articles claiming that President Trump committed financial fraud by inflating his assets to obtain loans.
In this regard, the Manhattan District Attorney's office, which has been investigating allegations of hush money related to President Trump's sexual misconduct scandals, requested eight years of tax records from Trump's accounting firm, Mazars USA, in August last year.
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On the other hand, President Trump's side has refused to comply, arguing that the prosecution's demand for tax records is unjust. Even if the Manhattan DA secures President Trump's tax records, it is unlikely they will be made public immediately before the presidential election. The records will only be disclosed after the prosecution files criminal charges and submits them to the court.
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