- Prosecutors are focusing on Donald Trump’s New York estate while investigating his finances, the WSJ reported.
- It is understood that the investigation focuses on the question of whether he misrepresented the value of the property for tax purposes.
- The investigation is part of the Manhattan District Attorney’s broader investigation into Trump’s finances.
- Visit the Insider Business Department for more stories.
Prosecutors in New York have intensified their investigation into Donald Trump’s Seven Springs estate in New York as they continue to investigate his finances, reports the Wall Street Journal.
Investigators in the Manhattan District Attorney’s Office have been showing greater interest in the sprawling 213-acre Westchester estate, which Trump bought for $ 9.5 million in 1995, people with knowledge of the investigation told the Office. WSJ said.
Trump originally bought the estate, complete with a 39,000-square-foot mansion, with the goal of turning it into a golf course, Insider reports.
He could not obtain the necessary zoning permits, and a large part of the land was rather placed under custody.
Sources told the WSJ that the office of District Attorney Cy Vance in Manhattan, which launched an extensive criminal investigation into the Trump Organization, issued subpoenas and requested recordings of government meetings where Trump’s failed attempts to oust the Seven Springs property development has been discussed.
Ralph Mastromonaco, an engineer involved in the failed development efforts, confirmed to the WSJ that he had received a subpoena related to the efforts.
The Seven Springs estate is also of interest for a separate investigation by New York Attorney General Letitia James, reports Associated Press.
Both investigations are focused on whether Trump is misrepresenting the value of the Seven Springs estate to ensure tax benefits from the environmental conservation arrangement, reports Associated Press. Trump
As Insider reported earlier, Trump is the subject of multiple legal investigations and criminal investigations now that he has left office and no longer enjoys the legal protection of executive power.
Both the New York Attorney General and the Manhattan District Attorney are reportedly conducting extensive investigations into Donald Trump’s personal finances as well as the Trump organization’s business transactions, although they did not disclose the exact nature of their investigations. not.
Trump’s tax returns seem to be an important part of Vance’s investigation, and he won a special Supreme Court battle this year to publish the former president’s tax returns and other financial documents.
Trump has long resisted their publication and has launched a second appeal against the Supreme Court ruling.
According to Vance, loans taken out on several of his Manhattan properties, including Trump Tower, are also being investigated.
Insiders contacted the Manhattan Attorney General’s Office and the Trump organization for comment, but received no response during the publication. Trump earlier called Vance’s investigation a “witch hunt.”