New York, June 9: Former US President Donald Trump and two of his adult children are set to testify in a New York state investigation over allegations that the family business organization bearing his name fraudulently inflated the value of its assets to obtain bank loans beyond merit, a court filing showed.
“Respondents Donald J Trump, Donald Trump, Jr., and Ivanka Trump shall appear for testimony commencing Friday, July 15, 2022 and concluding by the following week, absent a stay issued by the New York Court of Appeals, according to the filing made in the Supreme Court of New York state on Wednesday.
Trump and his children decided to testify in the investigation brought by New York Attorney General Letitia James after a judge in the state, Arthur Engoron, held the former president in contempt of court and ordered that he be fined $10,000 a day for ignoring subpoenas by James. The attorney-general is seeking to question the trio over her probe into the Trump Organization, which represents the Trump family’s business interests.
According to reports, James’ investigation has found evidence that the Trump Organization misstated asset valuations to get benefits such as favorable loans and tax breaks.
Republican Trump came to power in the November 2016 US election after beating Democrat Hillary Clinton, campaigning as an independent businessman who would reshape politics in Washington. He left office in January 2021 after losing to another Democrat candidate, Joe Biden, in the 2020 election.
Trump and his company have denied any wrongdoing. The former president had previously called James’ probe “a continuation of the greatest Witch Hunt of all time”.
(UNI)
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