The Manhattan District Attorney’s Office has added a prominent former district attorney to help their team investigate possible fraud cases former US President Donald Trump and his company.Mark Pomerantz, former Manhattan federal attorney and well-respected defense attorney and litigator with expertise in financial institutions, was sworn in earlier this month as assistant district attorney, Danny Frost, spokesman for District Attorney Cy Vancesaid CNN.Mr. Vance’s office is investigating whether the The Trump organization violated state law and is investigating the legality of any tax deductions, including maintenance and advisory fees, that the company has incurred, as well as what the Trump Organization has told lenders and tax authorities about the value of its assets.Donald Trump is under investigation by the Manhattan District Attorney for fraud. (AP)
Mr. Pomerantz, a retired partner of the Paul Weiss law firm, could not be reached immediately for comment.
The New York Times first reported that Mr. Pomerantz had joined Mr. Vance’s team.
The addition of Mr. Pomerantz gives the prosecutors a skilled attorney who knows their way around criminal law and someone who knows the pros and cons of financial investigations.
Mr. Pomerantz was the head of the criminal investigation department of the US law firm in Manhattan from 1997 to 1999.
Before he retired, he was a partner at Paul Weiss for more than a decade.
As a defense attorney, he has represented numerous individuals and financial institutions in complex investigations into financial fraud.
Manhattan DA Cy Vance joins team on Donald Trump investigation. (AP)
The former president has denied the matter.
Allegations were also included, also made by Cohen, that the Trump Organization inflated assets in its search for credit and deflated them when the time came to pay taxes.
According to someone familiar with the matter, Cohen has been interviewed by Vance’s investigators several times, including just this week.
Prosecutors are investigating the consultation fees Ivanka Trump received from her father. (AP)
Prosecutors are reviewing numerous loans taken out by the Trump Organization, including loans from Deutsche Bank and Ladder Capital.
Investigators initially began auditing the Ladder Capital loans after ProPublica reported discrepancies between the values the Trump Organization gave Ladder Capital and the values it provided to New York City tax authorities, sources said CNN with.
New York Mayor Bill de Blasio asked Mr Vance’s office to investigate the allegations and they agreed, the sources said.
The prosecution has since expanded its investigation into fees Mr Trump paid to advisors, including his daughter Ivanka Trump.
They are also reviewing conservation tax deductions on the Trump property in Westchester County, New York, named Seven Springs.
The Trump organization has declared that it has complied with all laws.
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Prosecutors were in a protracted legal battle over a grand jury subpoena at the accounting firm Mazars USA from Mr Trump over his financial records, including his tax returns.
The case is back before that Supreme Courtwho has not yet decided whether Mr. Vance can have the records.Prosecutors are investigating tax deductions made on Trump’s property in Westchester County, New York called Seven Springs. (Getty)
Mr Vance’s office said the records are vital to the investigation, including due to the statute of limitations on the potential crimes they are investigating.