Trump Invokes Fifth Amendment in New York Attorney General’s Investigation
He is accused of misrepresenting the value of his assets to lenders and tax authorities to secure loans.
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Former United States President Donald Trump on Wednesday, 10 August, declined to answer questions by the New York state attorney general's office for an investigation that is being conducted by the latter on his business practices.
In a statement released shortly after, Trump said he would plead to the Fifth Amendment right against self-incrimination, explaining that he "declined to answer the questions under the rights and privileges afforded to every citizen under the United States Constitution."
"When your family, your company, and all the people in your orbit have become the targets of an unfounded, politically motivated Witch Hunt supported by lawyers, prosecutors, and the Fake News Media, you have no choice. If there was any question in my mind, the raid of my home, Mar-a-Lago, on Monday by the FBI, just two days prior to this deposition, wiped out any uncertainty. I have absolutely no choice because the current Administration and many prosecutors in this Country have lost all moral and ethical bounds of decency," the statement added.
The Manhattan District Attorney’s Office and the New York attorney general’s office have both been investigating Trump’s business practices, particularly allegations that he misrepresented the value of his assets to lenders and tax authorities to secure loans and get breaks on his taxes.
Four properties, including the Trump International Hotel and Tower in Chicago and the Trump National Golf Club, are under investigation for overvaluing. The idea of overvaluing a piece of land is that a company can demand a larger tax break in exchange for agreeing to not use a large portion of the property.
Additionally, overvaluing can also create a stronger case for a bigger than required bank loan. Regarding this case, Trump was summoned to sit for depositions in a lawsuit in July, but the questioning was postponed and a new schedule has not been announced.
This comes in the backdrop of the Federal Bureau of Investigation (FBI) carrying out a search in Trump's Mar-a-Lago property earlier this week.
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