Former President Donald Trump invokes Fifth Amendment in New York attorney general investigation

US

NEW YORK — Former President Donald Trump has invoked the Fifth Amendment in the New York attorney general’s civil probe into his business dealings. 

Trump arrived at Attorney General Letitia James’ offices in a motorcade shortly before 9 a.m. Wednesday, announcing more than an hour later that he “declined to answer the questions under the rights and privileges afforded to every citizen under the United States Constitution.”

“I once asked, ‘If you’re innocent, why are you taking the Fifth Amendment?’ Now I know the answer to that question,” he said in a statement. “When your family, your company, and all the people in your orbit have become the targets of an unfounded politically motivated Witch Hunt supported by lawyers, prosecutors and the Fake News Media, you have no choice.”

His decision follows an FBI search of his Mar-a-Lago home Monday. Sources told CBS News agents seized documents believed to contain classified information. 

Trump returned home to Trump Tower on Tuesday night, after hosting a dinner for Republican members of Congress at his golf club in Bedminster, New Jersey. 

The attorney general’s investigation focuses on allegations that Trump’s company, the Trump Organization, misstated the value of prized assets like golf courses and skyscrapers, misleading lenders and tax authorities.  

In May, James’ office said that it was nearing the end of its probe and that investigators had amassed substantial evidence that could support legal action against Trump, his company or both. The Republican’s deposition — a legal term for sworn testimony that’s not given in court — was one of the few remaining missing pieces, the attorney general’s office said.

Two of Trump’s adult children, Donald Jr. and Ivanka, testified in recent days, two people familiar with the matter said. The people were not authorized to speak publicly and did so on condition of anonymity.

The three Trumps’ testimony had initially been planned for last month but was delayed after the July 14 death of the former president’s ex-wife, Ivana Trump, the mother of Ivanka, Donald Jr. and another son, Eric Trump, who sat for a deposition in James’ investigation in 2020.

On Friday, the Trump Organization and its longtime finance chief, Allen Weisselberg, will be in court seeking dismissal of tax fraud charges brought against them last year in the Manhattan district attorney’s parallel criminal probe — spurred by evidence uncovered by James’ office. Weisselberg and the company have pleaded not guilty.

James, a Democrat, has said in court filings that her office has uncovered “significant” evidence that Trump’s company “used fraudulent or misleading asset valuations to obtain a host of economic benefits, including loans, insurance coverage, and tax deductions.”

James alleges the Trump Organization exaggerated the value of its holdings to impress lenders or misstated what land was worth to slash its tax burden, pointing to annual financial statements given to banks to secure favorable loan terms and to financial magazines to justify Trump’s place among the world’s billionaires.

The company even exaggerated the size of Trump’s Manhattan penthouse, saying it was nearly three times its actual size — a difference in value of about $200 million, James’ office said.

Trump has denied the allegations, explaining that seeking the best valuations is a common practice in the real estate industry. He says James’ investigation is politically motivated and that her office is “doing everything within their corrupt discretion to interfere with my business relationships, and with the political process.” He’s also accused James, who is Black, of racism in pursuing the investigation.

Once her investigation wraps up, James could decide to bring a lawsuit and seek financial penalties against Trump or his company, or even a ban on them being involved in certain types of businesses.

Meanwhile, the Manhattan district attorney’s office has long pursued a parallel criminal investigation. No former president has even been charged with a crime.

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