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Donald Trump’s lawyers won’t be out of work anytime soon. The president probably has less to fear offense during his White House tenure than his machinations at New York’s Trump Tower.
The Trump Tower on Fifth Avenue in Manhattan is probably the president’s most famous property. Until his election he lived in the attic of the last two floors.
One of the reasons Donald Trump is clinging to the presidency is likely to be the legal difficulties that threaten him as a former president. While you may be able to guard against punishment for your violations of federal law by preemptively pardoning and immunizing yourself and your allies, low-level allegations against Trump and the Trump Organization are quite possible. Instead of, for example, obstruction of justice in connection with the Russia investigation, the incumbent president could be prosecuted for a crime such as state-level financial fraud.
The fact that you cannot evade jurisdiction below the federal level should also be relevant if you fail to meet your financial obligations to creditors such as Deutsche Bank. According to an investigation by the “New York Times”, loans of hundreds of millions of dollars, for which Trump must be personally responsible, are due soon. The Financial Times estimates that a total of $ 900 million in Trump’s real estate-related debt will mature in the next four years.
Trump’s New York counterpart
New York District Attorney Cyrus Vance Jr.
Two prosecutors, both from the Democratic Party, could become Trump’s biggest opponents. One is Cyrus Roberts Vance Jr., 66, who has been a New York district attorney since 2010, which includes the counties of Manhattan and Marble Hill. His father, Cyrus R. Vance, was, among other things, Secretary of State during the Carter presidency. On the other hand, Letitia Ann James, 62, who has held the position of New York State prosecutor since 2019.
The two independently advance investigations into Trump’s business practices that could result in criminal charges and lawsuits. They refer to actions in the period before Trump’s presidency that are not yet prescribed by law. The trigger for the investigations are the revelations regarding the secret money payments to the porn actress Stormy Daniels, which led to the conviction of Trump’s lawyer and the tough guy, Michael Cohen.
District Attorney Vance is investigating whether the payments exemplify other questionable practices by Trump and his entourage. Therefore, he has long been trying to get a deeper insight into Trump’s private and corporate financial situation. According to court documents, Vance is seeking evidence of widespread and prolonged criminal activity by the Trump Organization, which could include bank, tax and insurance fraud.
In recent months, the “New York Times” investigation in particular provided hints of such actions. These have revealed “irregular” bills from members of the Trump family, which could have been used to evade taxes. Also of particular relevance are Michael Cohen’s statements in relation to the Stormy Daniels case, according to which Trump is said to have systematically inflated assets to make loans more easily.
Observers believe that Vance has two approaches. The first deals with the falsification of business documents. For example, the Trump Organization secretly presented the money payments to Stormy Daniels as legal fees, which in itself is a misdemeanor and not a criminal offense. Since this representation could have resulted in tax fraud, more weight is given to the fact of falsifying documents.
This also broadens the case and affects accountants, tax advisors, and potentially others. And then you have, this is the second approach, a conspiracy that Trump himself could be drawn into. In court, Vance would have to show that Trump not only cheated, but that he did it with criminal intent.
Both Michael Cohen and the accountant Allen Weisselberg have reportedly indicated their willingness to cooperate with the authorities. His testimony before a jury would be extremely important, as Trump is known for the fact that he hardly ever works with written instructions, text messages or emails. Either way, Vance needs Trump’s tax records and other financial documents first. The prosecutor has been requesting it for a long time; Trump fights for his release with all means.
If there were any charges, Trump would be heard in New York Criminal Court. So there would undoubtedly be a flood of appeals and appeals from the defendant, a practice in which Trump is very adept: According to media reports, he has so far faced more than 4,000 lawsuits in his career. However, a trial against Trump in Manhattan sometime after 2023 cannot be ruled out. And anyone convicted of a felony often ends up in prison on Rikers Island.
The prosecution as a springboard
New York State Attorney Letitia James.
Meanwhile, New York State Attorney Letitia James is pursuing civil law against the Trump Organization. It focuses on questions about misreported assets. These are said to have served Trump in receiving tax breaks, credit relief and advantageous insurance coverage. Trump’s son Eric was recently questioned under oath. While nothing was publicly known about this, the prosecutor knows of four properties: the Trump International Hotel and Tower in Chicago, the Seven Springs Estate in Westchester County (New York), the Trump National Golf Club in Los Angeles and the skyscraper 40 Wall Street in Manhattan.
If the prosecutor finds violations of the law, he can file a lawsuit against the Trump Organization, against Donald Trump, Eric Trump or other business units controlled by both and demand fines or redress. If she finds evidence of possible criminal acts, she can also pursue the case herself or call other law enforcement agencies.
Even if the two prosecutors always emphasize that politics does not play a role in the investigations, the exact opposite is likely to happen after Trump’s electoral defeat. The central questions are whether one is trying to set an example of a former president and what personal ambitions Vance and James have. Vice President-elect Kamala Harris, who held both positions in California, shows the stepping stone that can be a district attorney’s office or a state attorney.
