Perhaps the most serious legal threat facing the former president is the criminal investigation launched by Cyrus Vance, the Manhattan district attorney, into Trump and the Trump Organization’s business dealings.
According to recent court filings, Vance’s investigation is exploring possible banking, tax and insurance-related fraud – including allegations made by Michael Cohen that the former president inflated the value of his assets when applying for loans, while deflating the value of his properties to reduce tax burdens.
Letitia James, the attorney-general of New York, is also pursuing a civil investigation into whether the Trump Organization misrepresented the value of its properties. Her office has already interviewed one of Trump’s sons, Eric Trump, under oath.
According to The New York Times, both offices have also subpoenaed records related to the Trump Organization’s consulting fees paid to members of the family – including Ivanka Trump – that were claimed as business tax deductions.
Trump and his siblings are also being sued by a group of New York tenants in rent-regulated apartments that were previously owned by Trump’s father, Fred Trump. The plaintiffs have accused the Trumps of fraudulently increasing their rents by inflating the price of building materials. If the case is granted class-action status, any court judgment would cover every person who paid rent in more than 14,000 rent-regulated apartments since 1992.