A New York judge Monday ordered commercial real-estate services giant Cushman &Wakefield to comply with subpoenas about its appraisals of several Trump Organization properties that are being eyed in a civil investigation by the New York Attorney General's Office.
Hours after the Manhattan Supreme Court Judge held Donald Trump in contempt of court for failing to comply with a subpoena issued by the Attorney General, the same judge ordered him to comply with another subpoena.
The judge, a Democrat who was elected to the bench in 2015, said Trump would have to pay $10,000 per day for every day he failed to turn over the documents. The lawyer for Trump said she would appeal the ruling.
James said that a judge has made clear that no one is above the law for the second time. Our investigation will continue.
The investigation is focused on allegations that the Trump Organization misstated the true values of multiple real-estate assets when it applied for loans and insurance coverage, and in tax-related filings, in an effort to obtain more favorable financial terms.
The office of James said on Monday that she had given the company until May 27 to turn over the documents.
James said that the work for the Trump Organization is significant to the ongoing investigation.
A request for comment was not immediately responded to by the company.
The attorney general filed a motion on April 8 to compel the company to comply with subpoenas.
Former U.S. President Donald Trump speaks during a rally to boost Ohio Republican candidates ahead of their May 3 primary election, at the county fairgrounds in Delaware, Ohio, U.S. April 23, 2022.The company has refused to comply with subpoenas for information related to its appraisals of three specific Trump-owned properties.
Evidence indicates that the Trump Organization submitted fraudulent or misleading valuations of the Seven Springs Estate in Westchester County, New York, and the Trump National Golf Club in L.A.
Those valuations were used to obtain tax deductions and involved appraisals issued by Cushman, according to the release.
According to the news release, Curbman issued multiple appraisals of 40 Wall Street in downtown Manhattan, including three appraisals to Capital One Bank between 2010 and 2012.
Allen Weisselberg (C) former US President Donald Trumps company chief financial officer arrives to attend the hearing for the criminal case at the criminal court in lower Manhattan in New York on July 1, 2021.In 2015, the same team prepared another appraisal on the property for Ladder Capital Finance, which valued the building at $550 million, according to the office. The Trump Organization used that appraisal to get a loan.
Jack Weisselberg is the son of Allen Weisselberg, the CFO of the Trump Organization. The Trump Organization and its CFO Allen Weisselberg were indicted last year on charges that they tried to avoid taxes on their compensation.
The Manhattan District Attorney's Office is prosecuting the criminal case in which Allen Weisselberg and the Trump Organization have pleaded not guilty.
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