Topline
Manhattan District Attorney Cyrus Vance has convened a grand jury to hear evidence in his office’s investigation into the Trump Organization, the Washington Post reported Tuesday, advancing a criminal probe of former President Donald Trump and his company’s finances.
Former U.S. President Donald Trump leaves Trump Tower in Manhattan on May 18, 2021 in New York City.
Key Facts
The grand jury will sit for six months, and it’s expected to hear multiple cases including the Trump Organization probe, the Post reported, citing two unnamed sources.
In New York State, grand juries operate in secret and are responsible for deciding whether prosecutors have enough evidence to charge somebody with a crime, a crucial first step before a criminal trial can begin.
Vance still hasn’t accused Trump or any of his associates of committing a crime.
Trump has cast Vance’s investigation as baseless and politically motivated.
The Trump Organization did not respond to a request for comment, but Trump released a statement Tuesday decrying “highly partisan Democrat prosecutors,” likely referencing Vance’s investigation.
Vance’s office declined to comment on or confirm the Post’s report to Forbes.
Key Background
Vance’s investigation began in 2019 as a probe into alleged hush money payments to pornstar Stormy Daniels. Since then, the investigation has grown considerably: In recent months, prosecutors have reportedly interviewed Trump’s business partners, poured through tax records and scrutinized loans the company took out on Manhattan skyscrapers. Vance’s office says it’s looking into whether the company committed bank and insurance fraud. In particular, prosecutors may be looking into former Trump attorney Michael Cohen’s allegation that the Trump Organization has misled banks, insurance companies and the government about the value of its real estate holdings. Cohen claims the company exaggerated its properties’ value to gain more favorable lending terms, and minimized their worth to pay lower taxes.
Tangent
Last week, New York Attorney General Letitia James announced her office is also pursuing a criminal investigation into the Trump Organization, working alongside Vance. James’ office opened a civil probe into the company two years ago, focusing partly on Cohen’s claims.
Contra
Trump called the two criminal probes a “witch hunt” and an “investigation that is in desperate search of a crime” last week, claiming Vance and James — both of whom are Democrats — are trying to discredit him and prevent him from running for president again.
