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Manhattan DA may be investigating President Trump, his company for bank and insurance fraud

President Donald J. Trump walks from the White House to deliver remarks at the Rolling Back Regulations to Help All Americans event Thursday, July 16, 2020, on the South Lawn of the White House. (Official White House Photo by Delano Scott)
August 03, 2020

Manhattan prosecutors suggested on Monday that they have been investigating President Donald Trump and his company for possible bank and insurance fraud.

The office of the district attorney, Cyrus R. Vance Jr., made the disclosure in a new federal court filing obtained by The New York Times. The DA’s office argued Trump should have to comply with its subpoena seeking eight years of his personal and corporate tax returns.

The president’s lawyers have asked a judge to declare the subpoena invalid.

Last month, the U.S. Supreme Court ruled that Trump can be subpoenaed to provide his financial records to the Manhattan District Attorney

The prosecutors did not directly identify the focus of their inquiry but cited “undisputed” news reports about Trump’s business practices. The reports, including investigations into Trump’s wealth and an article on the testimony of his former lawyer, Michael D. Cohen, who said that Trump may have illegally inflated his net worth and the value of his properties to lenders and insurers.


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