State Of New York Announces Trump Org. Investigation

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On Monday, it was announced that House Democrats have demanded documents from more than 80 people and institutions affiliated with Mr. Trump. People are slowly closing in on Trump and his family.

On Tuesday, it was reported that New York state regulators have now issued an expansive subpoena to the Trump Organization’s longtime insurance broker. This is the first step in an investigation of insurance policies and claims involving Mr. Trump’s family business.

 

According to The New York Times:

‘The subpoena was served late Monday on the company, Aon, one of the largest insurance brokerage firms in the world, as part of an inquiry by the New York State Department of Financial Services.’

Several days ago, Trump’s former lawyer Michael Cohen gave testimony before Congress, saying that the Trump Organization inflated the value of its assets to insurance companies.

The Times reported:

‘The subpoena is the latest sign that the Trump Organization is facing scrutiny from multiple fronts — federal prosecutors, congressional Democrats, and now, insurance regulators.’

Although the Department of Financial Services does not conduct criminal investigations, it can refer any possible illegal activity to prosecutors.

According to The Times:

‘The federal prosecutors in Manhattan have been investigating the Trump Organization’s role in hush money payments to women who claimed to have affairs with Mr. Trump.’

Michael Cohen pleaded guilty to crimes in connection with those hush payments, and has also told the prosecutors about irregularities in the company’s insurance practices.

According to The Times:

‘The subpoena from the state agency that regulates insurance, which is part of the administration of Gov. Andrew M. Cuomo, a Democrat and vocal critic of Mr. Trump, landed on the same day that even broader scrutiny came to bear on the president, his administration and his business from House Democrats.’

On Monday, the House kicked off their “sweeping investigation into possible obstruction of justice, corruption and abuse of power by Mr. Trump.”

The subpoena that was served does not indicate that Aon or any of its employees engaged in misconduct, nor does it specify that any wrongdoing was done that is the focus of the inquiry by state regulators.

The Times reported:

‘The nine-page subpoena demands a broad range of materials regarding Aon’s business with Mr. Trump and the Trump Organization dating back to 2009, according to the person briefed on the matter, who spoke on the condition of anonymity because he was not authorized to discuss it publicly.’

The subpoena seeks copies of all communications between Aon and Mr. Trump and the Trump Organization. This also includes all internal Aon documents relating to Mr. Trump and the company.

In addition, the regulators are looking at the Aon employees who handled the Trump Organization account and their compensation, including information about their incentives, bonus payments or commissions. They are also looking for similar contracts and agreements between Aon and Mr. Trump.

According to The Times:

‘Mr. Cohen’s testimony, however, provides additional fuel to advance the insurance inquiry.

‘At a hearing in front of the House Oversight Committee last week, when asked by Rep. Alexandria Ocasio-Cortez, a New York Democrat, whether the president ever inflated his assets to an insurance company, Mr. Cohen simply replied, “Yes.”’

Twitter had plenty to say:

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