Trump may face NY tax fraud probe, prosecutor says

The New York Metropolis district legal professional mentioned Monday he believes he could have grounds to analyze impeached President Donald Trump and his companies for tax fraud.

D.A. Cyrus Vance is attempting to persuade a federal appeals courtroom to permit him to get Trump’s tax returns.


From Reuters:

Attorneys for District Legal professional Cyrus Vance made the assertion in a submitting with the 2nd U.S. Circuit Court docket of Appeals in Manhattan, 4 days earlier than it considers Trump’s request to dam Vance’s August 2019 subpoena for the tax returns.

The legal professionals mentioned the “mountainous” public allegations of misconduct, together with misstatements about enterprise properties, may justify a grand jury probe into doable tax fraud, insurance coverage fraud and falsifying enterprise data.


“Even when the grand jury have been testing the reality of public allegations alone, such reviews, taken collectively, totally justify the scope of the grand jury subpoena,” Vance’s legal professionals wrote, with out accusing Trump or his companies of wrongdoing. (…) Among the many reviews Vance’s workplace cited have been allegations that Trump routinely despatched lenders monetary statements that inflated his property and omitted debt-laden properties, and from 2004 to 2014 paid $400 million in money for “5 homes, eight golf programs and a vineyard” regardless of billions of in debt.

Learn extra at Reuters: Trump could face tax fraud probe, Manhattan prosecutor says [By Jonathan Stempel]