Clear. 33.1   F New York
AI-Powered News Summarizer
Top Stories

Manhattan district attorney bolsters team investigating possible fraud claims by Trump and his company

February 19, 2021. Summarized by summa-bot.

Compression ratio: 49.8%. 1 min read.

MOUNT KISCO, NY - SEPTEMBER 30 2020: President Trump's Seven Springs estate in Mount Kisco, New York, seen here Sept. 30, 2020. (Johnny Milano for The Washington Post)

The Manhattan District Attorney's Office has added a prominent former prosecutor to bolster its team investigating possible fraud claims by former President Donald Trump and his company.

(CNN)The Manhattan District Attorney's Office has added a prominent former prosecutor to bolster its team investigating possible fraud claims by former President Donald Trump and his company.

Mark Pomerantz, a former federal prosecutor in Manhattan and a well-regarded defense lawyer and trial attorney with an expertise in financial institutions, was sworn into office earlier this month as a special assistant district attorney, Danny Frost, a spokesman for District Attorney Cy Vance, told CNN.

Vance's office is investigating whether the Trump Organization violated state laws and is looking into the legality of tax deductions, including from conservation easements and consulting fees the company took, as well as what the Trump Organization told lenders and tax authorities about the value of its assets.

By adding Pomerantz, prosecutors gain a well-seasoned attorney steeped in criminal law and someone who knows the ins and out of financial investigations.

Vance's investigation started its investigation in earnest in August 2019, initially looking into the hush-money payments former Trump attorney Michael Cohen facilitated to silence two women's claims that they had affairs with Trump.

Prosecutors are looking into numerous loans the Trump Organization has taken out, including those from Deutsche Bank and Ladder Capital, people familiar with the investigation have said.

Investigators initially began looking into the Ladder Capital loans after ProPublica reported discrepancies between the values Trump Organization gave to Ladder Capital and what it provided to New York City tax authorities, sources told CNN.

New York City Mayor Bill de Blasio asked Vance's office to look into the allegations and they agreed, the sources said.

Summarizer is on Google News. Now you can get the latest AI summarized news on your favorite news platform.

Don't like Google News? We have an RSS Feed for you.

Suggestions