Cushman & Wakefield had a message for Letitia James: You want documents? We got your documents right here!
The real estate giant provided nearly 36,000 documents to the New York Attorney General’s office, according to court filings. The AG’s office acknowledged as much in its own court filing, asking for the court to “hold any contempt purged, without any fines due or owing.”
The document dump completes Cushman’s compliance with subpoenas issued in September 2021 and February 2022. The subpoenas are part of an ongoing three-year civil investigation into the real estate holdings of Donald Trump and the Trump Organization.
Neither the AG’s office nor Cushman have publicly commented on the latest development in the case.
Cushman was held in contempt by the court at the beginning of July after failing to provide a full tranche of documents relating to its years of business with the Trump Organization. After the firm missed a deadline, the judge handed down a notice of contempt and a $10,000 daily fine.
But Cushman shortly after reached a deal with another judge, which gave the firm extensions on various segments of the subpoenas while wiping out the fine. James wants the fine eliminated too as her office begins to review the material, although her office reserves the right to inform the court of any issue with the documents.
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James has been seeking information regarding Cushman’s appraisals of several Trump properties, including 40 Wall Street in Manhattan, the Seven Springs Estate in Westchester County and Trump National Golf Club in Los Angeles. Investigators are searching for evidence that the Trump Organization illegally inflated property values for favorable loan terms or tax purposes.
James in January said investigators “uncovered significant evidence” pointing to misleading or fraudulent valuations used to woo lenders, insurers and the IRS. Cushman has stood firmly behind its appraisals and appraisers.
The former president and the Trump Organization have denied the allegations in the civil probe.
The documents could bring another headache to the former president, who is dealing with issues on the homefront. The FBI searched Trump’s Mar-a-Lago home on Monday, the president revealed, but the exact circumstances surrounding the visit remain unclear.