 "Donald Trump")
Donald Trump invoked the Fifth Amendment and wouldn't answer questions under oath in the New York attorney general's long-running civil investigation into his business dealings, the former president said in a statement Wednesday.
Trump arrived at state Attorney General Letitia James' offices in a motorcade shortly before 9 a.m., announcing more than an hour later that he "declined to answer the questions under the rights and privileges afforded to every citizen under the United States Constitution.
I once asked, If you're innocent, why are you taking the Fifth Amendment?' Now I know the answer to that question, the statement said. When your family, your company, and all the people in your orbit have become the targets of an unfounded politically motivated Witch Hunt supported by lawyers, prosecutors and the Fake News Media, you have no choice.
As vociferous as Trump has been in defending himself in written statements and on the rally stage, legal experts say the same strategy could have backfired in a deposition setting because anything he says could potentially be used in the criminal investigation.
His decision comes just days after FBI agents searched his Mar-a-Lago estate in Florida as part of an unrelated federal probe into whether he took classified records when he left the White House.
The civil investigation, led by state Attorney General Letitia James, involves allegations that Trump's company, the Trump Organization, misstated the value of prized assets like golf courses and skyscrapers, misleading lenders and tax authorities.
My great company, and myself, are being attacked from all sides," Trump wrote beforehand on Truth Social, the social media platform he founded. "Banana Republic!
Messages seeking comment were left with James' office and with Trump's lawyer.
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In May, James' office said that it was nearing the end of its probe and that investigators had amassed substantial evidence that could support legal action against Trump, his company or both. The Republican's deposition a legal term for sworn testimony that's not given in court was one of the few remaining missing pieces, the attorney general's office said.
Two of Trump's adult children, Donald Jr. and Ivanka, testified in recent days, two people familiar with the matter said. The people were not authorized to speak publicly and did so on condition of anonymity.
The three Trumps' testimony had initially been planned for last month but was delayed after the July 14 death of the former president's ex-wife, Ivana Trump, the mother of Ivanka, Donald Jr. and another son, Eric Trump, who sat for a deposition in James' investigation in 2020.
On Friday, the Trump Organization and its longtime finance chief, Allen Weisselberg, will be in court seeking dismissal of tax fraud charges brought against them last year in the Manhattan district attorney's parallel criminal probe spurred by evidence uncovered by James' office. Weisselberg and the company have pleaded not guilty.
James, a Democrat, has said in court filings that her office has uncovered significant evidence that Trump's company used fraudulent or misleading asset valuations to obtain a host of economic benefits, including loans, insurance coverage, and tax deductions.
James alleges the Trump Organization exaggerated the value of its holdings to impress lenders or misstated what land was worth to slash its tax burden, pointing to annual financial statements given to banks to secure favorable loan terms and to financial magazines to justify Trump's place among the world's billionaires.
The company even exaggerated the size of Trump's Manhattan penthouse, saying it was nearly three times its actual size a difference in value of about $200 million, James' office said.
Trump has denied the allegations, explaining that seeking the best valuations is a common practice in the real estate industry. He says James' investigation is politically motivated and that her office is doing everything within their corrupt discretion to interfere with my business relationships, and with the political process. He's also accused James, who is Black, of racism in pursuing the investigation.
THERE IS NO CASE! Trump said in a February statement, after Manhattan Judge Arthur Engoron ruled that James' office had the clear right to question Trump and other principals in his company.
Once her investigation wraps up, James could decide to bring a lawsuit and seek financial penalties against Trump or his company, or even a ban on them being involved in certain types of businesses.
Meanwhile, the Manhattan district attorney's office has long pursued a parallel criminal investigation. No former president has even been charged with a crime.
That probe had appeared to be progressing toward a possible criminal indictment of Trump himself, but slowed after a new district attorney, Alvin Bragg, took office in January: A grand jury that had been hearing evidence disbanded. The top prosecutor who had been handling the probe resigned after Bragg raised questions internally about the viability of the case.
Bragg has said his investigation is continuing, which means that Trump could invoke his Fifth Amendment right against self-incrimination and decline to answer questions from James' investigators during the deposition in a Manhattan office tower that has doubled as the headquarters of the fictional conglomerate Waystar Royco run by a character inspired partly by Trump on HBO's Succession.
In fighting to block the subpoenas, lawyers for the Trumps argued New York authorities were using the civil investigation to get information for the criminal probe and that the depositions were a ploy to avoid calling them before a criminal grand jury, where state law requires they be given immunity.
Weisselberg and Eric Trump each invoked the Fifth Amendment more than 500 times when questioned by James' lawyers during separate depositions in 2020, according to court papers.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
