Washington: The Supreme Court has cleared the way for prosecutors in New York City to receive eight years of former President Trump’s tax returns and other financial records as part of an ongoing investigation into possible tax, insurance and bank fraud in Trump’s business empire.
The high court’s decision to turn down Trump’s request for a stay of a grand jury subpoena advances a criminal probe by Manhattan District Attorney Cy Vance Jr. that appears to be one of the most serious of an array of legal threats Trump faces in his post-presidency.
The justices issued no explanation for the denial and no member of the court publicly noted any dissent.Vance’s investigation appears to be centered on allegations from former Trump lawyer Michael Cohen that the firm manipulated real estate valuations in order to maximize collateral for loans and minimize real estate taxes. Cohen also claimed that Trump committed fraud in dealings with insurance companies. Trump and the Trump Organization have denied the allegations.