On Monday, a New York judge held Donald Trump in contempt and fined him $10,000 per day, for failing to comply with a subpoena from New York Attorney General Letitia James.
The Daily Mail reports:
‘Mr. Trump, I know you take your business seriously, and I take mine seriously, I hereby hold you in civil contempt and fine you $10,000 a day’, said New York Supreme Court judge Arthur Engoron.
James is investigating whether the Trump Organization, the former president’s New York City-based family company, misstated the values of its real estate properties to obtain favorable loans and tax deductions.
James has said her probe had found ‘significant evidence’ suggesting that for more than a decade the company’s financial statements ‘relied on misleading asset valuations and other misrepresentations to secure economic benefits.’
James asked that Trump be fined $10,000 a day, and perhaps more until he complies.
The attorney general has questioned how the Trump Organization valued the Trump brand, as well as properties including golf clubs in New York and Scotland and Trump’s own penthouse apartment in midtown Manhattan’s Trump Tower.
