A New York state judge on Tuesday held one of the world's largest real estate firms in contempt of court because of a civil investigation into whether he lied about the value of his assets.
The judge said that the firm had failed to comply with subpoenas from the New York attorney general. The firm was ordered to pay a $10,000 daily fine until it gave the requested documents.
Justice Engoron held Mr. Trump in contempt for failing to comply with the court's requests. "Cushman & Wakefield has only itself to blame if it chose to treat the looming deadlines cavalierly."
The company went to great expense and effort to comply with the subpoenas and will appeal the ruling, according to a spokesman for the company.
The contempt ruling shows a failure to understand the lengths that Cushman has gone to comply with the court's order.
Ms. James is investigating whether the value of Mr. Trump's real estate properties was overstated in his financial statements.
Her investigators are going to question Mr. Trump and his children next week.
She could file a lawsuit against Mr. Trump and the company, accusing them of inflating the value of their properties in order to get favorable loan terms and other financial benefits.
One of the largest real estate firms in the world was founded in New York more than 100 years ago. The company appraises commercial property for its clients.
The Seven Springs Estate in Westchester County, N.Y., Trump National Golf Club in Los Angeles, Calif., and 40 Wall Street in Lower Manhattan were all assessed by the company.
Sign up for the New York Today Newsletter Each morning, get the latest on New York businesses, arts, sports, dining, style and more.Ms. James wants to know more about the relationship between Mr. Trump and the company.
The company has provided hundreds of thousands of pages of documents and appraisals to the attorney general, according to the spokesman. Justice Engoron acknowledged that the subpoenas were large but said that state rules allowed for such requests.
Ms. James argued that her office needed to question Mr. Trump, as well as his two oldest children, to determine which practices were fraudulent.
The empire is being scrutinized. The New York State attorney general is investigating Donald J. Trump's business practices. This is what to know.
The inquiry's beginnings are outlined. After Michael D. Cohen testified to Congress, the investigation began.
A contempt ruling was made. The judge ordered Mr. Trump to give the records and to be fined $10,000 a day until he did so. The judge withdrew the order after Mr. Trump paid the fine.
Ms. James can file a lawsuit but not be charged with a crime. There is a chance that a lawsuit could hurt the former president. A judge could impose steep financial penalties and restrict the Trump Organization's operations in New York if Mr. Trump is found liable at trial.
Mr. Trump had to pay $110,000 to have his contempt order lifted and he has denied all wrongdoing.
Mr. Trump did not comply with the subpoena. After paying the fine and clarifying the extent to which they searched his records, Mr. Trump was freed from contempt.
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