NEW YORK (AP) – Manhattan District Attorney Cyrus R. Vance Jr. he fought for a year and a half to gain access to former Donald Trump’s tax records.
Now, thanks to a U.S. Supreme Court ruling, will have them soon. But what would that mean for the Democrat grand jury’s investigation into Trump’s trade matters?
Former prosecutors said the amount of records could give investigators new tools to determine whether Trump lied to lenders or tax officials, before or after he took office.
“Prosecutors are looking for discrepancies in the procedures. For example, if Trump told the IRS he’s broken and lenders are rich, it’s just the kind of discrepancy they could build for a case, ”said Duncan Levin, a federal prosecutor who worked at a wide range of white collar cases like Vance’s head.of asset confiscation.
“These documents are a very important piece of the puzzle,” Levin said.
It is uncertain whether Trump’s records will include evidence of a crime. The former president, a Republican, has defended for years that he did not break any law and that he has been the object of injustice by Democrats for political reasons.
In the district attorney’s investigation, you can then see where tax records can be helpful and where they may not help much.
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MORE THAN THEY JUST COME BACK
Trump made extraordinary efforts to prevent his federal income tax returns from being made public, but these are not the only valuable documents included in this process.
Trump’s accounting firm, Mazars USA, is supposed to deliver not only the final versions of Trump’s tax returns, but also the draft versions of those statements and “all financial statements, annual statements, financial reports newspapers and independent auditors ”. reports ”of the company.
Mazars ’citation also sought compromise agreements that would define the role of accountants in the creation of financial statements and statements; source documents that provide accountants with raw financial data; and working papers and communications between the firm and Trump representatives. They would include communications showing how the raw data was analyzed and treated in the preparation of the records.
This could give prosecutors an “open book” on Trump’s finances, said Adam D. Citron, a former state prosecutor and partner at Davidoff Hutcher & Citron. “It’s really the kitchen sink.”
Examination of these other documents could be key in determining whether Trump or his companies provided tax authorities with different information about their income than what they presented to other officials, such as banks and business partners.
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MONEY HUSH
When the district attorney’s investigation began, one of the initial subpoenas sent to the Trump Organization asked for information about payments made by Trump’s attorney, Michael Cohen, to women who had claimed to have had sexual encounters. extramarital affairs with Trump.
Cohen has said the Trump company reimbursed him later for one of these payments, to adult film actress Stormy Daniels, disguising it in the form of legal fees.
It is unclear, however, whether Trump’s tax records will add much to this part of the investigation. The New York Times, which obtained years of Trump tax data, wrote that it did not contain “new revelations” about the payment to Daniels and did not include any detailed payment to Cohen.
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TAX BREAKS
The district attorney’s office has been investigating some of the arrangements Trump made to reduce his tax bill. Statement data could be essential in analyzing whether any of these maneuvers crossed legal lines.
One of the breaks under control is the one Trump got to donate part of his Seven Springs estate, north of New York City, on a conservation fund. Some experts have questioned whether Trump overestimated the land to get more rest than he deserved.
Researchers have already cited and received many documents related to the land agreement. Trump benefited from a similar conservation donation in California.
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STATEMENTS TO LENDERS
Vance’s office has not revealed the full nature of his investigation. But in court records, prosecutors have pointed to news articles questioning whether Trump had chronically exaggerated the value of his assets for banks and insurance companies. The Associated Press reported last month that Vance’s office recently interviewed Cohen for hours, asking him, among other things, about Trump’s relationship with Deutsche Bank, his largest and oldest creditor.
A Washington Post story cited by prosecutors detailed how several Trump Organization financial disclosures inflated the number of lands for sale on a California golf course, the area in one of its vineyards, and the number of stories in the Trump Tower, while excluding information on debts Chicago and Las Vegas hotel projects.
Tax records will only be a tool that prosecutors will use to examine whether any of these statements resulted in fraud.
“They will see valuations and real estate values,” Citron said of state prosecutors. “They will see the lawyers’ billing to see what their expenses were for.”
Monday’s ruling does not guarantee that the public will see Trump’s financial records. For now, they are protected by the secret rules of the grand jury. Even if charges are filed in the case, these documents are likely to be drafted heavily if filed in the registry.
“Even then, I’m sure there will be a lot of litigation about it,” Citron said.