• By The Financial District

MANHATTAN PROSECUTORS SECURE TRUMP’S TAX RECORDS

Former President Donald Trump’s tax returns and underlying tax documents are now in the hands of Manhattan District Attorney Cyrus Vance.

The subpoena for the tax documents from Mazars USA, Trump's longtime accounting firm, was enforced on Monday and Vance’s office now has them, a spokesperson for Vance’s office, Danny Frost, told Tom Winter and Adam Edelman of NBC News.


The subpoena was enforced after the Supreme Court declined on Monday to stop their production following an emergency application from Trump’s attorneys.


In that ruling Monday, the high court declined to block a New York grand jury from getting Trump's personal and corporate tax returns, a decisive defeat in his long legal battle to keep his tax records out of investigators' hands.


The ruling doesn't mean the returns will become public any time soon, and they might never be publicly released. Under New York state law, materials turned over to a grand jury must be kept secret.


But Vance has now compelled Trump's accountants to turn over the records that Trump has steadfastly refused to surrender to prosecutors or Congress. Vance was seeking tax returns covering eight years for a grand jury investigation of hush money payments and other financial transactions.


The investigation began after it was disclosed that former Trump lawyer Michael Cohen paid Stormy Daniels $130,000 to keep quiet about her claim that she had an affair with Trump, an allegation he has denied.


Cohen also alleged to Congress that the Trump Organization sometimes lied about its financial condition to evade taxes or obtain favorable loan terms.


In July, the Supreme Court rejected Trump's contention that as a sitting president he was immune from any part of the criminal justice system — including grand jury investigations.


A month later, a federal judge in New York ruled against Trump's renewed effort to toss out the subpoena, describing the legal attack as merely a repackaged version of his original immunity argument. The 2nd US Circuit Court of Appeals affirmed the ruling.



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