The two investigations into Donald Trump which began separately have now converged.
While initially New York Attorney General Letitia James stated in court documents that her investigation was strictly civil and Manhattan District Attorney Cyrus Vance stated his probe was criminal, a spokesperson for AG James says its’ office has informed the Trump Organization it is actively investigating the organization in a criminal capacity. In an unusual move, AG James is working together with DA Vance’s office.
Donald Trump and Trump Organization are being investigated to determine if he overvalued some assets and undervalued others for financial benefit, tax evasion, and fraud.
Prosecutors are also looking into whether the Trump Organization violated tax laws by gifting its employees’ extras like: tuition payments to private schools, free cars, and discounted apartments.
In January of this year, Deutsche Bank announced it was cutting ties with Trump following the January 6 Capitol riot. According to the New York Times, Deutsche Bank had already loaned Trump around $2.5 billion dollars.
Also recall that during his first year in office, Trump paid a paltry $750 income taxes. This is under $1000 dollars for a self-proclaimed billionaire.
It has also been reported that Trump may have committed multi-million dollars in tax fraud by failing to declare $287 million in forgiven debt to the IRS.
Fun Fact: Justice Anthony Kennedy's son, Justin Kennedy, was heavily involved in Trump's dealings with Deutsche Bank.
Deutsche Bank loaned Trump over $1 billion for his real-estate projects while Supreme Court Justice Anthony Kennedy's son led its’ real-estate division. This was at a time when other banks were refusing to loan Trump money.
Meanwhile, Trump allegedly owes more than $400 million in loans that are coming due over the next four years.
Trump’s actions after his election loss have irrevocably damaged the Trump brand making it difficult for him to make money off his name.
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Jessica de la Davies is an independent journalist, Member of the Society of Professional Journalism, All American Outstanding Woman of Achievement, 2x Producer of The Nutcracker on PBS, Special Ambassador for the American Diabetes Association, former Ms. USA, and Editor of HotFlash on Substack.