Summary List Placement
Two New York fraud investigations into President Donald Trump have expanded to include consulting fee write-offs, some of which appeared to be paid to the president’s daughter, Ivanka Trump, The New York Times reported.
The write-offs were uncovered by a Times investigation conducted earlier this year into the president’s long-sought-after federal income tax returns.
The findings of the investigation included $26 million in consulting fees paid to unidentified companies that were listed as write-offs by the Trump Organization, reducing the president’s taxable income. One of those payments, which reportedly paid for consulting on developments in Hawaii and Canada, was for $747,622, The Times reported.
In a separate document reviewed by The Times, Ivanka Trump listed that exact amount, $747,622, as a payment she received from a consulting firm that she co-owns. She filed the financial disclosure in 2017 when she became an adviser to the president.
The Times first reported the figures in September, adding that Ivanka Trump was an employee of the Trump Organization at the time the consulting payments were made. The Times said the findings implied she was paid as a consultant while also working for the company as an executive officer.
On Thursday, The Times reported that two ongoing investigations were now looking into the payments: a criminal investigation conducted by Manhattan district attorney Cyrus R. Vance Jr., and a civil investigation conducted by New York State Attorney General Letitia James.
Vance’s and James’s offices reportedly issued subpoenas in an attempt to obtain Trump Organization records related to the payments, The Times said. The subpoenas concerned the fees paid to Ivanka Trump’s company, TTT Consulting LLC. The Times notes that Ivanka is not thought to be the focus of either probe.
The Trump Organization reportedly told The Times in a statement that “this is just the latest fishing expedition in an ongoing attempt to harass the company.”
“Everything was done in strict compliance with applicable law and under the advice of counsel and tax experts,” the statement said, according to The Times. “All applicable taxes were paid and no party received any undue benefit.”
Ivanka Trump tweeted in response to The New York Times story on the investigations.
“This ‘inquiry’ by NYC democrats is 100% motivated by politics, publicity, and rage,” she said. “They know very well that there’s nothing here and that there was no tax benefit whatsoever.”
The White House did not immediately respond to Business Insider’s request for comment.
Beyond these two alleged investigations, Trump faces myriad legal battles when he leaves office in January.