Trump Org files lawsuit to block subpoena of financial statements

House Oversight Panel is seeking 8 years worth of documents

TRD 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

Hamptons’ priciest summer rental to host MAGA extravaganza next month

Hamptons’ priciest summer rental to host MAGA extravaganza next month

From left: Donald Trump, Jane Goldman of Solil Management, Jorge Perez of Related Group, Stephen Ross of Related Companies, Jeff Greene, Brian Chesky of Airbnb, Sam Zell of Equity Group Investments, Jeff Sutton of Wharton Properties with Adam Neumann, former WeWork CEO (Illustration by The Real Deal)

These US real estate titans made Forbes’ billionaires list

President Donald Trump and Deutsche Bank CEO Christian Sewing (Credit: Trump byMANDEL NGAN/AFP via Getty Images; Sewing by Thomas Lohnes/Getty Images)

Trump Org asks lender, landlord for a break

President Donald Trump with sons Eric and Donald Jr., and an aerial view of Trump Doral (Credit: Paul Morigi/WireImage, DANIEL SLIM/AFP via Getty Images)

Trump Organization properties losing $1M a day to pandemic

House Speaker Nancy Pelosi (Credit: Chip Somodevilla/Getty Images)

Pelosi proposes SALT rollback in next stimulus

US Steel’s sprawling South Works site is about the size of Downtown Chicago. At left, Common, who wants to partner with developers on a mixed-use entertainment district there, and Dan McCaffery, whose vision for a 13,000-home community fizzled out. (Credit: Common by Paras Griffin/Getty Images; McCaffery via McCaffery Interests; aerial by Cushman & Wakefield)

South Works, the 415-acre “magnificent property,” is Chicago’s biggest development opportunity

Governor Andrew Cuomo (Credit: Eduardo Munoz Alvarez/Getty Images; Sue via Flickr)

Vacation home travel ban not on Cuomo’s agenda

arrow_forward_ios
Loading...