In court Monday, Letitia James’ office said Eric Trump initially agreed to sit for a deposition on July 22, only to refuse, “less than two days before he was scheduled to testify in agreement.”
The James office outlined the scope of the investigation into whether the Trump Organization “felt the value of Mr. Trump’s assets on the wrong inflation to secure loans and obtain economic and tax benefits.”
The Attorney General’s Office has been investigating President Donald Trump and the Trump Organization since 2019, when Trump’s former attorney Michael Cohen testified before Congress that Trump’s annual financial statements inflated the value of his ability to secure favorable loans and insurance coverage. but the value of other assets to reduce taxes on real estate.
In the submission, James’ office asked Eric Trump’s lawyer for a letter to the Attorney General stating that he would “invoke those rights granted to every individual under the Constitution” as justification.
CNN has reached out to a lawyer for Eric Trump for comment.
Alan Garten, chief legal officer for the Trump Organization, denied the allegations.
“No lawsuit has been filed by the NY Attorney General,” Garten said. “This is just a conflict of discovery over documents and such. As the engine papers make clear, NY AG has not made any determination that something was incomplete or that action will be taken. We will respond to this motion as appropriate.”
James’ office is also seeking a judge to force testimony from other witnesses and documents.
Allen Weisselberg, the chief financial officer of the Trump Organization, testified over two days in July. Trump’s longtime tax lawyer Sheri Dillon was also fired, but the state says it has refused to answer certain questions.
The financial transactions of several properties of the Trump Organization are being monitored as part of the investigation, including Seven Springs Estate in Westchester County New York, 40 Wall Street, a building in Lower Manhattan, Trump International Hotel and Tower Chicago, and Trump National Golf Club in Los Angeles.
The allegations allege, among other things, that Trump has denied the Trump International Hotel and Tower Chicago since 2009 its financial statements, and that Fortress Credit Corporation in 2010 agreed to forgive more than $ 100 million of the $ 150 million owed to the debt was loan, as part of a loan rebate agreement. The submission states that the amount of money forfeited “may have been a taxable event for the creditor,” and part of James’ investigation is to determine if Trump mentioned that on his tax return.
This story has been updated with details about James’ submission.
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