is a snub for Donald Trump. The former occupant of the White House will have to hand over his accounting records to Cyrus Vance, the Manhattan prosecutor. Solicited by the lawyers of the ex-New York magnate, the Supreme Court refused to overturn the decision of a federal judge who had ordered the delivery of eight years of tax and banking declarations to the New York prosecutor. The Supreme Court had already ordered Donald Trump in July 2020 to transmit these documents to the prosecutor, but the lawyers for the magnate had again requested it to contest the scope of the documents requested. “The work continues”, simply reacted Cyrus Vance in a statement.
Initially focused on payments made, before the 2016 presidential election, to two alleged mistresses of the billionaire, the investigation by Cyrus Vance, investigated behind closed doors before a grand jury, now also examines possible allegations of tax fraud, insurance fraud or bank fraud. According to US media, investigators recently interviewed employees of Deutsche Bank – long the financial backer of Donald Trump and his holding company, the Trump Organization – and his insurance company, Aon. They also re-interviewed the president’s ex-personal lawyer, Michael Cohen, who is serving a prison sentence. He had told Congress that Trump and his company were artificially inflating or reducing the value of their assets to alternately obtain bank loans or reduce their taxes.
The risk of incarceration
If these suspicions were true and Donald Trump was indicted, they would expose the former president to possible imprisonment. Unlike federal offenses, violations of state laws cannot be pardoned by the President of the United States. New York State Democratic Attorney Letitia James is also investigating the allegations of bank fraud and insurance fraud, in civil proceedings.
Donald Trump did not immediately react to the Supreme Court’s decision on Monday. But in the past he has called the investigation the “worst witch hunt in US history.” Unlike his predecessors, the real estate developer and ex-reality TV star, who left New York for good to move to his club in Mar-a-Lago, Florida, never released his tax returns. . A survey published by the New York Times in September 2020 revealed that Donald Trump paid only $ 750 in taxes in 2016 and 2017.
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