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As the Manhattan District Attorney’s office investigates the Trump Organization, there are several employees they may want to haul in front of a special grand jury to walk them through the company’s byzantine finances.
Earlier in June, ABC News reported that Jeff McConney, the company’s controller, testified for grand jurors. McConney is one of several Trump Organization employees among the most knowledgeable about the company’s finances. According to the Daily Beast and a 2007 interview with Trump in Worth magazine, he’s one of four people — in addition to Trump — who’ve had a hand in determining how the company’s assets are valued.
Prosecutors appear to be keenly interested in the process for evaluating Trump Organization properties. Court filings suggest they seeks to determine whether the company manipulated property values to secure more favorable tax and loan benefits.
Legal experts say if the company showed one set of books for tax purposes and another for insurance and loan terms, that could lead to tax, wire, bank, and insurance fraud charges. The New York Attorney General’s office is conducting a similar investigation into the Trump Organization’s finances, and is now working directly with the Manhattan DA.
Manhattan prosecutors have already subpoenaed reams of tax documents from the Trump Organization and its accountants at Mazars, going twice to the Supreme Court to do so. While the DA’s office has hired forensic accountants at FTI Consulting to pore over the documentation, former prosecutors say it will be helpful to have an insider at the Trump Organization to lay out for investigators — and jurors — just how the tax forms were prepared. The Trump Organization’s decades-long financial history includes numerous properties, franchise deals, and bankruptcies.
The special grand jury is expected to …read more
Source:: Business Insider