- The Manhattan DA’s office has convened a second grand jury for its Trump Organization investigation, according to the Washington Post.
- This one is looking into whether Trump’s company misrepresented its finances for tax and bank loan purposes, per The Post.
- The first grand jury brought charges against the company and CFO Allen Weisselberg in July.
Prosecutors in the Manhattan District Attorney’s office have empaneled a second grand jury to consider whether to bring new criminal charges against the Trump Organization, according to The Washington Post.
The new special grand jury is considering charges related to how former President Donald Trump’s company valued its assets, a source told The Post. Another grand jury brought by the DA’s office filed 15 indictments against the Trump Organization and its CFO Allen Weisselberg in July, alleging they evaded taxes.
For around three years, the office of Manhattan District Attorney Cyrus Vance Jr. has been investigating the Trump Organization’s finances. Part of that investigation includes an examination of whether the company misrepresented its finances to obtain favorable tax, insurance, and bank loan rates.
The new grand jury was seated last week and was expected to begin hearing evidence on Thursday, according to the Post.
Both grand juries are special grand juries, meaning that jurors sit for up to six months.
The first was scheduled to last through November, although it could also be extended. The scope of the jury means that the investigation will almost certainly continue into the administration of Alvin Bragg, who on Tuesday was elected to succeed Vance as Manhattan DA.
The issue of property value manipulation was first raised by Michael Cohen, a former executive at the Trump Organization and personal lawyer for Trump. He testified to Congress in 2019 that the company effectively kept two sets of books – one to present a rosy picture of finances for favorable loan and insurance rates, and another that presented a more dire picture to pay less in taxes.
Vance’s office, in litigation to enforce subpoenas to obtain the Trump Organization’s financial documents, previously indicated it would examine potential discrepancies. Court filings from the office of New York Attorney General Letitia James, which has joined forces with Vance on the investigation, suggested that it was examining discrepancies in property evaluations as well.
Trump wasn’t personally charged in the first set of indictments. Representatives for Trump and the Trump Organization didn’t immediately respond to Insider’s requests for comment.
In a hearing in September for the first set of criminal charges, Bryan Skarlatos, an attorney representing Weisselberg, said he believed the DA’s office would file additional charges.
“We have strong reason to believe other indictments are coming,” Skarlatos said.