‘Trump’s company misled banks, tax officials’

‘Trump’s company misled banks, tax officials’

The New York Attorney General’s office told a court late Tuesday that its investigators have uncovered evidence that former President Donald Trump’s company used “fraudulent or deceptive” property valuations to obtain loans and tax benefits.

The court said state officials have yet to decide whether to bring a civil trial in relation to the charges, but that investigators need to question Trump and his two eldest children as part of the investigation. Trump and his lawyers say the investigation is politically motivated.

In court documents, Attorney General Letitia James’s office provided the most detailed account yet of a long-running investigation into allegations that Trump’s company stifled the value of assets in order to obtain favorable loan terms. Exaggerated, or misrepresented, which land was eligible to reduce its tax burden. The Trump Organization said it had overstated the value of land donations made in New York and California on paperwork submitted to the IRS to justify several million dollars in tax cuts.

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