On Monday, A New York state judge heard arguments on Monday on whether former President Donald Trump should be held in contempt of court for defying a subpoena from New York state Attorney General Letitia James, who is investigating alleged fraudulent business practices by the former president.
In particular, Jams is investigating whether the Trump Organization illegally inflated the values of its real estate properties to obtain favorable loans and tax deductions.
The Attorney General has said her probe had found “significant evidence” suggesting that for more than a decade the company’s financial statements “relied on misleading asset valuations and other misrepresentations to secure economic benefits.”
As noted by The Hill, Trump lost a bid to quash a subpoena from the New York attorney general, then failed to produce all the documents by a court-ordered March 3 deadline, later extended to March 31 at his lawyers’ request.
In February, New York Supreme Court Judge Arthur Engoron rejected Trump’s effort to block James’s subpoena, ordering the former president to provide both documents and testimony to the attorney general’s office. Engoron wrote that Trump’s arguments that the investigation is politically motivated “have little bearing on whether he must comply with the subpoena.”
“In the final analysis, a State Attorney General commences investigating a business entity, uncovers copious evidence of possible financial fraud, and wants to question, under oath, several of the entities’ principals, including its namesake. She has the clear right to do so,” the judge said.
Stay tuned for updates.
