The estimates made by Cushman, who worked for the Trump Organization for years until he resigned after the Jan. 6 attack on the US Capitol, are central to the political investigation into the accuracy of the Trump Organization’s financial statements. Cushman had previously fought the subpoena and contested it in court. Last month, a New York appeals court said it would not block the state from enforcing the subpoena. The company said it has made “extreme efforts” to cooperate with the court and the attorney general’s office and plans to appeal. “We have expended great expense and effort to quickly locate, collect, review, and produce the vast body of documents requested by the OAG, and have now generated over hundreds of thousands of pages of documents and over 650 reviews since the last subpoena was issued on February 2022,” a Cushman spokesman said. “Cushman disputes any suggestion that the company has failed to exercise due diligence and good faith in complying with the Court’s order, and we will appeal this decision,” the spokesperson added. This story is breaking and will be updated.
title: “New York Judge Holds Trump Appraiser In Contempt Fines Him 10 000 A Day " ShowToc: true date: “2022-12-07” author: “Devon Leflore”
Engoron acknowledged that the subpoenas requested “a huge number of documents,” but said the attorney general’s powers are broad. The fine starts on Thursday. The estimates made by Cushman, who worked for the Trump Organization for years until he resigned after the Jan. 6 attack on the US Capitol, are central to the political investigation into the accuracy of the Trump Organization’s financial statements. Cushman had previously fought the subpoena and contested it in court. Last month, a New York appeals court said it would not block the state from enforcing the subpoena. The company said it has made “extreme efforts” to cooperate with the court and the attorney general’s office and plans to appeal. “We have expended great expense and effort to quickly locate, collect, review, and produce the vast body of documents requested by the OAG, and have now generated over hundreds of thousands of pages of documents and over 650 reviews since the last subpoena was issued on February 2022,” a Cushman spokesman said. “Cushman disputes any suggestion that the company has failed to exercise due diligence and good faith in complying with the Court’s order, and we will appeal this decision,” the spokesperson added. The court ruling is another victory for New York Attorney General Letitia James’ office, which is nearing the end of its years-long investigation into the accuracy of the Trump Organization’s financial statements used to secure loans, insurance and tax benefits. Investigators said they are also looking into Cushman & Wakefield’s relationship with the Trump Organization and whether its appraisers misstated the values of some Trump Organization properties. Cushman’s lawyers have denied allegations that any appraiser acted improperly or prepared appraisals in a fraudulent or misleading manner. The Trump Organization has denied any wrongdoing and said the investigation by Democrat James is politically motivated. For years, Cushman was the primary appraiser for the Trump Organization, helping it value several properties, including the family compound known as Seven Springs, the Trump National Golf Club in Los Angeles and 40 Wall Street, according to court filings. The civil subpoenas seek Cushman’s employment documents related to those properties and others, information about payments to the Trump Organization and his decision to stop working for Trump in January 2021. In addition, authorities are seeking information about a Cushman appraiser who went at work for the Trump Organization. Investigators told the court that they are trying to find out what was asked of Trump, “whether the appraisers were pressured by the client in any way, and whether Cushman’s significant dealings with the Trump Organization in any way influenced the appraisals prepared or other valuations-related information provided or compromised Cushman’s objectivity.” Cushman regularly provided the Trump Organization with real estate data that the attorney general’s office said was ultimately used to prepare financial statements. There have been “hundreds” of cases where such figures, according to the attorney general’s office, have been cited “as support for inflated valuations” in financial statements. Cushman’s lawyers previously argued that the subpoenas were overly lengthy and burdensome because they sought information about clients unrelated to the Trump Organization. Engoron previously found that Cushman inconsistently applied internal quality control practices when performing valuations for the Trump Organization. This story has been updated with additional details.
title: “New York Judge Holds Trump Appraiser In Contempt Fines Him 10 000 A Day " ShowToc: true date: “2022-11-05” author: “Marlene Freeman”
Engoron acknowledged that the subpoenas requested “a huge number of documents,” but said the attorney general’s powers are broad. The fine starts on Thursday. The estimates made by Cushman, who worked for the Trump Organization for years until he resigned after the Jan. 6 attack on the US Capitol, are central to the political investigation into the accuracy of the Trump Organization’s financial statements. Cushman had previously fought the subpoena and contested it in court. Last month, a New York appeals court said it would not block the state from enforcing the subpoena. The company said it has made “extreme efforts” to cooperate with the court and the attorney general’s office and plans to appeal. “We have expended great expense and effort to quickly locate, collect, review, and produce the vast body of documents requested by the OAG, and have now generated over hundreds of thousands of pages of documents and over 650 reviews since the last subpoena was issued on February 2022,” a Cushman spokesman said. “Cushman disputes any suggestion that the company has failed to exercise due diligence and good faith in complying with the Court’s order, and we will appeal this decision,” the spokesperson added. The court ruling is another victory for New York Attorney General Letitia James’ office, which is nearing the end of its years-long investigation into the accuracy of the Trump Organization’s financial statements used to secure loans, insurance and tax benefits. Investigators said they are also looking into Cushman & Wakefield’s relationship with the Trump Organization and whether its appraisers misstated the values of some Trump Organization properties. Cushman’s lawyers have denied allegations that any appraiser acted improperly or prepared appraisals in a fraudulent or misleading manner. The Trump Organization has denied any wrongdoing and said the investigation by Democrat James is politically motivated. For years, Cushman was the primary appraiser for the Trump Organization, helping it value several properties, including the family compound known as Seven Springs, the Trump National Golf Club in Los Angeles and 40 Wall Street, according to court filings. The civil subpoenas seek Cushman’s employment documents related to those properties and others, information about payments to the Trump Organization and his decision to stop working for Trump in January 2021. In addition, authorities are seeking information about a Cushman appraiser who went at work for the Trump Organization. Investigators told the court that they are trying to find out what was asked of Trump, “whether the appraisers were pressured by the client in any way, and whether Cushman’s significant dealings with the Trump Organization in any way influenced the appraisals prepared or other valuations-related information provided or compromised Cushman’s objectivity.” Cushman regularly provided the Trump Organization with real estate data that the attorney general’s office said was ultimately used to prepare financial statements. There have been “hundreds” of cases where such figures, according to the attorney general’s office, have been cited “as support for inflated valuations” in financial statements. Cushman’s lawyers previously argued that the subpoenas were overly lengthy and burdensome because they sought information about clients unrelated to the Trump Organization. Engoron previously found that Cushman inconsistently applied internal quality control practices when performing valuations for the Trump Organization. This story has been updated with additional details.
