'Asset Value Manipulation' Trump and His Children to Face Prosecutorial Investigation

[Image source=AP Yonhap News]

[Asia Economy Reporter Cho Hyun-ui] As the prosecution's investigation into former U.S. President Donald Trump's financial fraud allegations rapidly tightens, Trump and his children, who had previously refused summons, will undergo prosecution questioning within three weeks.

Major foreign media reported on the 17th (local time) that a New York state court dismissed Trump's request to block the prosecution's interrogation. Accordingly, former President Trump, eldest son Donald Trump Jr., and eldest daughter Ivanka must undergo questioning by the New York State prosecution led by Attorney General Letitia James.

After nearly three years of investigation, the prosecution revealed last month that the Trump family was found to have understated the asset values of real estate such as golf courses and buildings to pay less tax, while inflating values to obtain loans and tax benefits.

The court stated, "Attorney General James has uncovered numerous pieces of evidence suggesting the possibility of financial fraud by the Trump family," and "James has a clear right to investigate the Trump side."

Former President Trump, preparing for the next presidential election, has labeled the prosecution's investigation as a witch hunt and engaged in litigation. He claimed that Attorney General James, a Democrat, is conducting the investigation unfairly for political reasons.

Before the court's decision, Attorney General James repeatedly emphasized, "The actions of the Trump Organization are highly fraudulent," and "We must conduct questioning to determine who among former President Trump and his children led the real estate valuation issues."

Amid increasing prosecutorial pressure targeting the Trump family, Mazars USA, an accounting firm long associated with Trump, announced its split on the 9th, stating it is "unreliable."

Allen Weisselberg, former Chief Financial Officer (CFO) of the Trump Organization and considered a close aide to President Trump, has been indicted by the Manhattan U.S. Attorney's Office. The Manhattan U.S. Attorney's Office is investigating the Trump family's tax evasion issues.

This content was produced with the assistance of AI translation services.