New York attorney general investigates Trump business deals

Donald Trump

The New York attorney general's office sent out a wide swath of subpoena requests to lenders associated with the Trump Organization, the business formally owned by President Donald Trump and supposedly managed by his family, late on Monday. Cohen told the House Oversight Committee that the Trump Organization had sometimes inflated the value of its assets on financial statements to get loans, or better rates on insurance. The New York Times first reported the existence of the investigation.

The investigation's scope is not yet known at this time, additional reporting from Bloomberg noted.

During his testimony before Congress, former Trump fixer Michael Cohen said that Trump gave false financial statements to Deutsche Bank.

Per the Times, James is also unearthing documents pertaining to Trump's failed bid to buy the Buffalo Bills in 2014.

Cohen told a House committee it was common for Trump to overstate his wealth when dealing with the news media or banks and for him to understate it when it came time to pay his taxes. A USA branch of the German bank loaned Trump more than $100 million for the Doral golf resort in Florida in 2012, and $170 million for the Trump International Hotel in Washington, D.C.in 2015.

As well as Deutsche Bank, the probe also sought records from New Jersey-based Investors Bank, the report said.

Paul Manafort charged by NY prosecutors with 16 further crimes
They have also said the case does not prove that the campaign worked with Russian Federation to help Trump win the election. Judge Jackson blasted Manafort's "contempt" for the law and "his belief he had the right to manipulate these proceedings".


A person familiar with the matter says Monday's subpoenas seek loan applications, mortgages and other records.

In May, five Democratic members of the House of Representatives sent a letter to Deutsche Bank CEO John Cryan asking the bank to turn in any records relating to Trump's accounts and any ties to Russian Federation. Neither Deutsche Bank nor Investors Bank representatives could be immediately reached.

Deutsche Bank and Investors Bank declined to comment. Before former Attorney General Eric T. Schneiderman resigned amid allegations of assault and abuse against women, he pursued cases against the Trump Foundation and Trump University.

"Will never be treated fairly by these people - a total double standard of 'justice, '" he added on Twitter.

Deutsche Bank has lent Trump Organization hundreds of millions of dollars for real estate ventures and is one of the few major lenders that has given large amounts of credit to Trump after a string of bankruptcies at his hotel and casino businesses during the 1990s.

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