- Prosecutors investigating Trump’s finances are said to be focused on his New York estate.
- They’re reportedly focusing on whether he misrepresented the property’s value for tax purposes.
- The inquiry is part of the Manhattan district attorney’s broader investigation into Trump’s finances.
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New York prosecutors investigating Donald Trump’s finances have intensified their inquiry into his Seven Springs estate, The Wall Street Journal reported on Tuesday.
Investigators in the Manhattan District Attorney’s Office have in recent weeks taken a closer interest in the 213-acre estate in Westchester County that Trump purchased for $US7.5 ($10) million in 1995, people with knowledge of the investigation told The Journal.
Trump originally purchased the estate, complete with a 39,000-square-foot mansion, with the aim of turning it into a golf resort. Then he was unable to secure the necessary zoning permits to turn it into a luxury subdivision, and much of the land was placed in a conservation easement, The Journal reported.
Sources told The Journal that District Attorney Cy Vance’s office had issued subpoenas and requested recordings of government meetings where Trump’s attempts to develop the property were discussed.
Ralph Mastromonaco, an engineer involved with the development plans, told The Journal that he had received a subpoena.
The Seven Springs estate is also of interest in a separate civil investigation by New York Attorney General Letitia James, The Associated Press reported on Monday. Both investigations are looking into whether Trump misrepresented the value of the estate to secure tax benefits from the conservation arrangement, the AP said.
The broader investigations are said to be focused on Trump’s personal finances and the business dealings of the Trump Organization.
As Insider previously reported, Trump is the focus of multiple civil and criminal investigations now that he has left office and no longer enjoys the legal protections of executive power.
Vance recently won a Supreme Court battle to force the former president to hand over his tax returns, which Trump had long resisted.
Vance’s investigation is also said to be looking into loans taken out on several of Trump’s Manhattan properties, including Trump Tower.
The Manhattan District Attorney’s Office and the Trump Organization did not immediately respond to Insider’s request for comment. Trump has previously called Vance’s investigation a “witch hunt.”