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A New York City property tax agency has been issued with a subpoena as part of a criminal investigation into former President Donald Trump’s company, Reuters reported on Friday.
Manhattan district attorney Cy Vance’s office reportedly issued a subpoena to the New York City Tax Commission, which is responsible for reviewing assessed values of properties.
Reuters reported that the commission confirmed it received the subpoena.
In recent court documents, Vance’s office said its investigation is focused on “possibly extensive and protracted criminal conduct” at the Trump Organization, the umbrella company for Trump’s various business interests. Vance’s office has not publicly accused Trump or his businesses of wrongdoing, Vanity Fair reported.
Last week, it was reported that Vance’s office hired Mark Pomerantz, a prosecutor specializing in white-collar and organized crime.
Property owners in New York City can file applications with the NYC Tax Commission to correct the assessed value of their properties, according to the agency’s website.
Records held by the agency would likely include income and expense statements from the Trump Organization, which the company may have filed in an effort to lower its tax assessments, Reuters reported.
Vance’s office has reportedly sought documents related to the value of Trump Organization properties in New York from other sources, too. Last fall, Vance’s office issued a subpoena to Deutsche Bank, according to The New York Times. That bank had served as the primary lender for Trump’s businesses for about two decades, reports said. Prosecutors last year reportedly interviewed bankers who had worked with Trump.
Reuters reported that investigators may be looking into whether the Trump Organization sought to increase the value of its properties when seeking loans, then tried to decrease the value when paying property taxes.
The Wall Street Journal last Saturday reported that Vance’s office was looking into loans taken out on the Trump Organization’s flagship properties in New York City.
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Originally published at https://www.businessinsider.com/nyc-tax-commission-subpoenaed-by-manhattan-da-reports-2021-2 on .
