Trump Org files lawsuit to block subpoena of financial statements

House Oversight Panel is seeking 8 years worth of documents

National /
Apr.April 23, 2019 11:34 AM
President Donald Trump and Elijah Cummings (Credit: Getty Images)

President Donald Trump and Elijah Cummings (Credit: Getty Images)

Facing a subpoena from the House Oversight Committee, the Trump Organization is fighting back.

In a lawsuit filed on Monday against Democratic committee chairman Elijah Cummings and the accounting firm Mazars USA LLP, the Trump Organization is seeking a court order to block the subpoena of eight years’ worth of the company’s financial statements, the Wall Street Journal reported.

The subpoena “threatens to expose Plaintiffs’ confidential information and lacks ‘a legitimate legislative purpose,'” lawyers for the organization say in the lawsuit.

The House Oversight Committee subpoenaed Mazars last week for financial statements from 2011 through 2018 pertaining to President Trump, the Trump Organization and other related entities, as well as memos, notes and communications that contributed to the preparation of those documents.

“The committee has full authority to investigate whether the president may have engaged in illegal conduct before and during his tenure in office,” Cummings said in an April 12 letter advising the committee of the subpoena.

The letter cited the February testimony of former Trump lawyer Michael Cohen, who said that Trump had inflated his property values to obtain a loan from Deutsche Bank. Several of the financial statements Cohen turned over to the committee were prepared by Mazars.

Trump’s lawyers criticized Cohen testimony’s in the new lawsuit, calling it a “partisan stunt, not a good-faith effort to obtain accurate testimony from a reliable witness.”

The testimony has already triggered a few other subpoenas, including one from the New York State Department of Financial Services against insurance broker Aon, and one from New York Attorney General Letitia James against Deutsche Bank and Investors Bank.

The subpoena from the House Oversight Committee asks that Mazars turn over the requested documents by April 29. [WSJ] — Kevin Sun


Related Articles

arrow_forward_ios
Make Greenland Great Again? Trump wants to buy Arctic territory
Make Greenland Great Again? Trump wants to buy Arctic territory
Make Greenland Great Again? Trump wants to buy Arctic territory
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Close to 80 hotels with more than 13,000 rooms plan to open in 2021. (iStock)
Big year seen for hotel openings, despite few visitors
Big year seen for hotel openings, despite few visitors
Eric and Lara Trump with 502 Bald Eagle Drive in Jupiter (Getty, Google Maps)
More Trumps buy in South Florida: Eric, Lara paid $3M for Jupiter home
More Trumps buy in South Florida: Eric, Lara paid $3M for Jupiter home
President Joe Biden and New York State Senator Brian Kavanagh. (Getty, Department of Treasury)
Federal guidelines could complicate state’s rent relief rollout
Federal guidelines could complicate state’s rent relief rollout
Andrew Yang (Getty, iStock)
Yang targets vacant lots with $900 million tax plan
Yang targets vacant lots with $900 million tax plan
Donald Trump and 40 Wall Street (iStock, Sterlfilms/Wikimedia)
40 Wall’s valuation chop means tax savings for Trump Org
40 Wall’s valuation chop means tax savings for Trump Org
32 Avenue of the Americas, Two Metrotech and 60 Hudson Street. (Rudin Management, Brookfield Properties, 60 Hudson, City of New York)
These properties face credit risk under Local Law 97: Moody’s
These properties face credit risk under Local Law 97: Moody’s
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...