Supreme Court declines Trump’s move to conceal tax returns from Manhattan D.A. [Video]

WHAT YOU NEED TO KNOW:

• Former President Donald Trump’s move to keep away his business tax returns from Manhattan District Attorney Cyrus Vance Jr. was denied by the US Supreme Court on Monday.
• Vance is currently investigating Trump’s alleged concealment of his two sets of financial records.
• Vance’s investigation runs simultaneously with New York Attorney General Letitia James’ probe on Trump’s finances and business assets.

The US Supreme Court ruled against former President Donald Trump’s attempt to conceal his business tax returns from the Manhattan district attorney on Monday. The move signaled more possibility that he would be legally prosecuted.

In a statement, Manhattan District Attorney Cyrus Vance Jr. said that “the work continues.”

In a bid to probe the former president’s finances, Vance had to work rigorously such as going to the Supreme Court twice to make sure that his office could thoroughly check Trump’s returns and potentially use them as evidence in a jury.

In February 2019, Trump’s personal attorney and Trump Organization executive Michael Cohen gave a congressional testimony that ultimately led to the investigation. Cohen admitted that he bribed Stormy Daniels who claimed to have an affair with Trump.

Vance was investigating whether such extortions were unlawful alongside the possibility that Trump and his organization hid two sets of financial records in a bid to secure favorable loan terms and pay lower tax rates.

Last July, the Supreme Court permitted Vance to obtain Trump’s tax returns, though it also allowed Trump to oppose some specifications of the subpoena. Then on Monday, the Supreme Court declined the recent arguments raised by Trump’s lawyers.

The verdict, though, does not imply that Trump’s tax returns would be publicized. Under the New York law, materials to be used for a grand jury must remain classified not unless the Manhattan District Attorney’s Office would treat them as evidence in a trial.

Since Trump departed the White House, Vance’s investigations into his finances have strengthened. The district attorney has subpoenaed New York City’s property-tax agency and got a special prosecutor to take charge of the case.

Vance’s investigation comes alongside New York Attorney General Letitia James’ probe on Trump’s alleged cover-up of his financial records and manipulated business assets to escape paying higher taxes.

Aside from the New York investigations, the ex-president is also facing other legal disputes such as an alleged sexual assault, misconduct as president over alleged financial crimes made by his inaugural team, and his infamous involvement in the January 6 US Capitol siege.

Trump’s request was denied by the Supreme Court justices after avoiding the issue for almost four months. No judge has given a comment in handing over the verdict.

Source: Business Insider