NY attorney general investigating whether Trump Organization 'improperly' inflated value of assets
The New York Attorney General's office said that it is investigating whether President Donald Trump and his company over how they valued multiple Trump's assets on annual financial statements that were used to obtain loans, as well as to get economic and tax benefits.
James' office said that Eric Trump, executive vice president of the Trump Organization, "Was scheduled for an [Office of Attorney General] interview last month to discuss his role in certain Trump Organization projects." "Valuations of Seven Springs were used to claim an apparent $21.1 million tax deduction for donating a conservation easement on the property in tax year 2015, and in submissions to financial institutions as a component of Mr. Trump's net worth," the filing said.
Trump Organization spokesman Alan Garten in a statement said, "This is simply a discovery dispute over documents and the like." An affidavit filed by James' office said that James "has kept this investigation confidential to avoid prejudice to the investigation and to avoid undue reputational harm to witnesses and the subjects of the investigation."
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