Donald Trump’s group is said to have made false statements about the value of real estate. Because the former US President refused to cooperate with the investigation, he now had to pay a fine. It might not have been the last.
Former US President Donald Trump is suspected of tax evasion and has been fined $110,000 for obstructing investigations. Trump settled the sum on Thursday, a spokesman for New York State Attorney General Letitia James said in a statement.
Donald Trump to file tax and banking documents
New York’s Supreme Court on April 25 ordered Trump to pay a $10,000 daily fine for failing to cooperate in James’ 2019 tax evasion investigation. He should therefore submit tax and bank documents. Because the 75-year-old did not comply with this request, James applied for the fine for obstructing the investigation. On May 6, however, the judge in charge suspended the sentence and gave Trump until May 20 to pay the fine for the period from April 25 to May 6, i.e. $ 110,000 for the eleven days. Despite the payment, Trump still has to provide documents. Otherwise, the order can be reinstated.
Attorney General James’s spokesman said Trump’s entourage also had until Friday to submit affidavits on the finances of the Trump Organization family holding company. This requirement was also met.
As part of a civil investigation, James is investigating suspicions that the family holding company Trump Organization artificially inflated the value of real estate when it wanted to get loans from banks and undervalued it in other cases to avoid having to pay taxes or insurance premiums. In January, James said he had collected evidence of fraudulent financial practices. In February, a judge then ordered Trump, his daughter Ivanka, and his son Donald Trump Jr. to testify under oath as part of the investigation. The Trumps have appealed.
The former president has repeatedly described the Attorney General’s investigation as politically motivated. James is a member of President Joe Biden’s Democratic Party, who defeated Trump in the 2020 presidential election.
In parallel with the Attorney General’s investigation, the Manhattan Attorney’s Office is conducting a criminal investigation into Trump Corporation’s business conduct. In July last year, charges were brought against the Trump Organization and its longtime chief financial officer, Allen Weisselberg, for tax fraud. The process is scheduled to begin this year.
Trump has been accused of dubious business and financial practices for decades. It is still unclear how dangerous the investigations in New York Trump could be. The 75-year-old has repeatedly raised a possible re-election for the presidency in 2024.
Source: Stern
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
