NYS investigating Trump projects, including failed bid for Buffalo Bills

NYS investigating Trump projects, including failed bid for Buffalo Bills

NYS investigating Trump projects, including failed bid for Buffalo Bills

New York Attorney General Letitia James has issued subpoenas to Deutsche Bank and Investors Bank, as part of an inquiry she has opened into President Trump's business dealings. The former attorney submitted copies of statements he said had been provided to Deutsche.

According to a Monday New York Times report, the inquiry is civil and not criminal in nature, though the scope is still unknown.

The new probe comes after Mr. Trump's former attorney and personal fixer Michael Cohen recently testified to Congress that the president had inflated assets to obtain a bank loan from Deutsche Bank, which is technically considered fraud, in order to purchase the Bills team, but that effort never came to fruition. It's unclear what penalties Trump could face, but the state attorney general does have the power to dissolve a business in court if her office finds evidence of illegality.

A person familiar with the matter says Monday's subpoenas seek loan applications, mortgages and other records.

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President Donald Trump has tweeted an apparent response to a NY investigation into his business empire, saying the state and Gov. Andrew Cuomo are now "proud members of the group of PRESIDENTIAL HARASSERS". The unit lent Trump more than $100 million in 2012 to pay for the Doral golf resort and $170 million in 2015 to transform the Old Post Office Building in Washington into a luxury hotel.

Ms James, a Democrat newly elected to office, pledged to look into his business practices, saying after her victory in November that she would be "shining a bright light into every dark corner of his real estate dealings and every dealing".

The Times' source said the subpoenas were inspired by Cohen's testimony about how Trump reported his finances. James' office is also reportedly seeking records from Investors Bank, which reportedly helped Trump with his Trump Park Avenue residential property in Manhattan. The previous acting attorney general already humiliated the president by filing a lawsuit against and dissolving the Trump Foundation. Deutsche Bank is President Trump's largest lender and loaned hundreds of millions of dollars to Trump Organization for real estate projects even as other banks refused to do so. Trump has also said that Cohen, who pleaded guilty to charges of illegal campaign contributions, is a liar who can not be trusted.

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