The Manhattan District Attorney’s Office has convened a second long-term grand jury tasked with weighing evidence about the Trump Organization’s financial dealings, according to The Washington Post. The grand jury will meet three times a week for six months.
The Post reports:
One person familiar with the matter said the second grand jury was expected to examine how former president Donald Trump’s company valued its assets.
That appears to be a separate issue than the one described in indictments from the first grand jury, which has dealt with allegations that [former Trump Organization Chief Financial Officer Allen] Weisselberg and other Trump executives evaded taxes on their pay by systematically hiding some of their compensation from the IRS. Both Weisselberg and the two companies have pleaded not guilty.
The news signals that the Manhattan District Attorney’s investigation will extend into the term of Alvin Bragg, who was elected on Tuesday and will succeed Cyrus Vance, Jr.
The District Attorney’s probe may result in additional criminal charges against the Trump Organization and its key officers, including former President Donald Trump.
New York Attorney General Letitia James is leading a separate civil inquiry into the Trump Organization that also scrutinizes how it valued real estate, including properties in Manhattan, Westchester, and Los Angeles.
Both investigative bodies are sharing information.
The Post adds:
The question of whether Trump manipulated the valuations of his properties was raised in 2019 by Michael Cohen, a longtime lawyer for Trump, in his testimony to Congress.
“It was my experience that Mr. Trump inflated his total assets when it served his purposes, such as trying to be listed amongst the wealthiest people in Forbes, and deflated his assets to reduce his real estate taxes,” Cohen said then. Cohen’s insider accounts helped spark both James’ and Vance’ investigations, according to court filings.
