By Michael Balsamo and Michael R. Sisak -
The Associated Press
Former President Donald Trump will be questioned this Wednesday under oath in the framework of the civil investigation carried out by the New York attorney general on his business as a real estate tycoon, as he himself reported through the social network Truth Social.
Trump's testimony comes just hours after the FBI searched his Florida mansion, Mar-a-Lago, as part of an unrelated federal investigation into whether he took classified documents with him when he left the White House in January 2021. .
Former President Donald Trump arrives at Trump Tower in New York on August 9, 2022. Yuki Iwamura / AP
The civil investigation led by New York Attorney General Letitia James is investigating whether the former president's company, the Trump Organization, falsified the value of assets such as golf courses and skyscrapers, and defrauded creditors and tax authorities.
"In New York City tonight. Seeing the racist New York Attorney General tomorrow, for the continuation of the largest witch hunt in American history!" Trump wrote on Truth Social, referring to James, who is black, and the investigation.
"My great company, and myself, are being attacked from all sides," Trump denounced.
"Banana Republic!" he added.
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Trump's affidavit comes at a key moment in the James investigation.
In May, his office said he was nearing the end of the investigation and his team had amassed substantial evidence that could support legal action, such as a lawsuit, against Trump, his company or both.
The testimony of the Republican billionaire is one of the few missing pieces in the process initiated by the New York Prosecutor's Office, according to his office.
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Two of Trump's adult children, Donald Jr. and Ivanka, have testified in the investigation in recent days, according to two people familiar with the matter who spoke on condition of anonymity.
Testimony from the Trump clan was originally scheduled for last month but was delayed following the death on July 14 of the former president's first wife, Ivana Trump, mother of Ivanka, Donald Jr. and Eric Trump, who sat testifying at James' research in 2020.
In parallel, the Trump Organization and who was its finance chief, Allen Weisselberg, will appear in court on Friday to request that the tax fraud charges filed against them last year in the criminal investigation of the Manhattan District Attorney be dismissed.
"significant" evidence
New York's attorney general, a Democrat, has noted in court documents that her office has uncovered "significant" evidence that Trump's company "used fraudulent or misleading asset valuations to obtain a range of economic benefits, including loans, insurance coverage, insurance and tax deductions.
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James alleges that the Trump Organization exaggerated the value of its properties to impress creditors or misrepresented the value of land to reduce its tax burden, pointing to annual financial statements provided to banks to guarantee favorable loan terms.
The company even exaggerated the size of Trump's Manhattan penthouse, claiming it was nearly three times its actual size, a value difference of about $200 million, according to James' office.
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Trump has denied the accusations, explaining that seeking the best valuations is standard practice in real estate.
Furthermore, he points out that James' investigation is part of a politically motivated "witch hunt" and that his office is "doing everything in its corrupt discretion to interfere with my business dealings, and the political process." ".
"NO CASE!" Trump insisted in a statement in February, after Manhattan Judge Arthur Engoron ruled that James' office had a "clear right" to question Trump and other executives at his company.
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While James has explored suing Trump or his company, the Manhattan district attorney's office has long conducted a parallel criminal investigation.
Those inquiries appeared to be moving toward a possible criminal indictment, but slowed after a new district attorney, Alvin Bragg, arrived in January.
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The grand jury that had been hearing the evidence disbanded.
The main prosecutor who had been in charge of the investigation resigned after Bragg raised internal doubts about the viability of the case.
Bragg has said his investigation is continuing, which means Trump could invoke his Fifth Amendment right against self-incrimination and refuse to answer questions from James' investigators.
According to the subpoena issued by James' office, Trump was due to appear in person at the attorney general's office, located in a Manhattan office tower that has served as the headquarters of the fictional conglomerate Waystar Royco on the HBO series
Succession
.
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As vociferous as Trump has been defending himself in written statements and on stage at rallies, legal experts say the same strategy could backfire in a statement stage because anything he says could potentially be used against him or his company. in the criminal investigation.
No former president has been charged with a crime.
"A Lawyer's Nightmare"
In the fight to block the subpoenas, the Trumps' attorneys argued that New York authorities were using the civil investigation to obtain information for the criminal investigation and that the statements were a ploy to avoid calling them before a criminal grand jury, where the state law requires that they be given immunity.
Last summer, spurred on by evidence uncovered by James' office, Manhattan prosecutors filed charges against Weisselberg and the Trump Organization.
Prosecutors said Weisselberg collected more than $1.7 million in unreported compensation.
Weisselberg and the company have pleaded not guilty.
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Weisselberg and Eric Trump each invoked the Fifth Amendment more than 500 times when questioned by James' attorneys during separate depositions in 2020, according to court documents.
The former president could choose to do the same, but is likely to "claim a lack of knowledge on many questions," according to New York University law professor Stephen Gillers.
That could be a successful strategy, since Trump is known as a "big vision guy," Gillers said.
"So he will answer broad questions and those answers will be general enough to keep him out of trouble, or so his lawyers hope," he said.
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"On the other hand, his impetuousness makes him a lawyer's nightmare and his overconfidence can lead him astray. Whoever questions him will encourage him," added the professor.
Once his investigation is complete, James could decide to file a lawsuit and ask for economic sanctions against Trump or his company, or even that they be prohibited from participating in certain types of business.