‘Trump’s company misled banks, tax officials’

Trump and his lawyers say the investigation is politically motivated

The New York attorney general’s office late Tuesday told a court its investigators had uncovered evidence that former President Donald Trump’s company used “fraudulent or misleading” asset valuations to get loans and tax benefits.

The court filing said state authorities haven’t yet decided whether to bring a civil lawsuit in connection with the allegations, but that investigators need to question Trump and his two eldest children as part of the probe. Trump and his lawyers say the investigation is politically motivated.

In the court documents, Attorney General Letitia James’ office gave its most detailed accounting yet of a long-running investigation of allegations that Trump’s company exaggerated the value of assets to get favorable loan terms, or misstated what land was worth to slash its tax burden. The Trump Organization, it said, had overstated the value of land donations made in New York and California on paperwork submitted to the IRS to justify several million dollars in tax deductions.

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