Published: Wed, May 26, 2021
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New York prosecutors probing Trump form grand jury

New York prosecutors probing Trump form grand jury

The Washington Post revealed that Manhattan District Attorney Cy Vance had empaneled a grand jury into the financial problems facing the Trump Organization.

In February the US Supreme Court cleared the way for Mr Vance to enforce a subpoena on Mr Trump's accountants, releasing eight years of tax returns for the former president, and his businesses.

Trump issued a statement in reaction to the news, blasting the purported move as "a continuation of the greatest Witch Hunt in American history".

Mr Vance or the district attorney's office have not spoken about the grand jury proceedings, which are kept secret.

The new grand jury is the latest sign of increasing momentum in the criminal investigation into the Republican ex-president and his company, the Trump Organization.

The panel is also hearing several matters unrelated to Trump's case, the paper added.

Vance's office declined to comment.

Previous court filings suggested the investigation was sparked by testimony from Trump's former personal lawyer Michael Cohen that the Trump Organization facilitated a hush-money payment to the adult-film actress Stormy Daniels during the 2016 USA election - which could also be a violation of state tax laws. "This is purely political, an insult to about 75 million voters who supported me in the presidential election, and is being promoted by a very partisan Democratic prosecutor".

Mr. Trump, who resigned in January, denied cheating.

The DA's investigation is being carried out alongside the office New York Attorney General Letitia James, which revealed last week that the investigation into the Trump Organization was being conducted "in a criminal capacity".

Investigators suspect the Trump Organization may have artificially inflated and reduced the value of assets, particularly several properties in NY state, to either get bank loans or reduce their taxes.

Last week he attacked James and said he would "overcome" the indictment attempt.

Cohen, meanwhile, said he believed the former president may ultimately be the one to flip on everyone around him.

His former daughter-in-law Jen Weisselberg, who is cooperating with the inquiry, has passed on documents helping investigators look at whether some Trump employees might have been given unofficial benefits such as housing or school tuition.

Allen Weisselberg was subpoenaed in James' civil investigation and testified twice past year.

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