New York prosecutors haven’t revealed what they know about Donald Trump’s finances. But new developments suggest it’s ominous for the former president.
The New York state attorney general, Letitia James, announced on May 18 that a civil investigation into Trump’s business, the Trump Organization, is now a criminal investigation. James didn’t explain the change, but her office has been gathering detailed information on Trump’s business activity for more than two years. Trump has lost several legal cases trying to prevent disclosure of personal and business records, allowing James and other prosecutors to obtain detailed data on Trump’s real-estate empire during the last several months.
New York Attorney General Letitia James speaks at a news conference on April 1, 2021. REUTERS/Carlo Allegri
In February, James said, “until we uncover some unlawful behavior or conduct, our investigation will continue as a civil matter.” Since it has now become a criminal matter, James may, in fact, have obtained new information including evidence of unlawful behavior.
The attorney general’s probe will now align with a similar probe by New York City district attorney Cyrus Vance, who opened that Trump inquiry in 2019. Vance is reportedly probing allegations that the former president deliberately misstated property values and distorted other financial records to lower his tax bill and get better loan terms from banks than he might have otherwise. A year earlier, The New York Times, aided by Trump’s niece Mary Trump, published a detailed exposé revealing Trump financial activities it described as “improper or possibly illegal.” Trump denies any wrongdoing and says the escalation of the New York probe is "an investigation that is in desperate search of a crime."