"Flipped Asset Values" Trump Pleads the Fifth in New York State Prosecutor's Inquiry

Former U.S. President Donald Trump (center)
[Image source=Reuters Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] Former U.S. President Donald Trump invoked his right to remain silent in response to questions from the New York State Attorney General regarding allegations of asset value manipulation in his family business. Trump, who is considering a run in the 2024 presidential election, strongly opposed the investigation, calling it a "witch hunt."

The New York Times (NYT) reported on the 10th (local time) that Trump declared his intention to invoke the right to remain silent in a statement released in line with the prosecutor's questioning. Trump cited the Fifth Amendment, stating, "I refuse to answer the prosecutor in accordance with the rights granted to all citizens by the U.S. Constitution."

According to NYT sources, Trump actually exercised his right to remain silent during the interrogation. His team stated that during the approximately four hours and thirty minutes of questioning from 9:30 a.m. to 3 p.m., he did not answer any questions except for those asking his name at the beginning of the session.

Foreign media interpret that the reason Trump refused to testify is because providing false testimony during the prosecutor's questioning could lead to criminal penalties.

The New York State Attorney General is investigating the Trump family on suspicion that they undervalued real estate assets to pay less tax but inflated asset values when obtaining bank loans. Although the New York State Attorney General is handling this case as a civil matter, the Manhattan U.S. Attorney's Office is concurrently treating it as a criminal case, leading analysts to believe that the testimony could potentially lead to criminal charges.

Foreign media view Trump's invocation of the right to remain silent amid his consideration of a 2024 presidential run as a potential political burden. This is because during the 2016 election campaign, Trump mocked those who cited the Fifth Amendment in relation to Hillary Clinton's email scandal by saying, "If you're innocent, why do you plead the Fifth?"

In response, Trump explained that his reason for invoking the right to remain silent is due to what he calls a targeted investigation by prosecutors and a hostile media environment, asserting that "there is no other choice." In his statement, he said, "I used to ask why people plead the Fifth if they are innocent, but now I understand the answer."

On the morning of the same day, Trump posted on his social networking service (SNS) 'Truth Social' claiming, "I met with the racist New York State Attorney General. This is part of the largest witch hunt in American history." The person he referred to as a racist is Attorney General Letitia James, a Black woman affiliated with the Democratic Party, whom Trump accuses of targeting him politically and conducting the investigation for political reasons.

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