Eric Trump is sitting for a deposition as part of an investigation by the New York attorney general into the Trump Organization potentially inflating the value of its assets for loans and tax benefits.
Following a New York judge rejecting his request to delay testimony until after the election, Trump is scheduled to appear via video on Monday for his deposition, according to an oral argument request filed Friday and CNBC.
New York Judge Arthur Engoron ordered the president’s third child to appear for a deposition by Oct. 7, according to ABC News. Trump and his brother Donald Trump Jr. took charge of the organization in January 2017 ahead of President Trump’s inauguration. The president, however, did not divest himself from the company.
Trump Organization attorneys requested a delay in a court filing to accommodate “Mr. Trump’s extreme travel schedule and related unavailability between now and the election, and to avoid the use of his deposition attendance for political purposes.” After the court’s ruling, New York Attorney General Letitia James said, “To be clear, no entity or individual is allowed to dictate how or when our investigation will proceed or set the parameters of a lawful investigation.”
Eric Trump’s deposition is part of an investigation concerning whether the Trump Organization received tax benefits by improperly inflating the value of its assets. James filed legal action in August revealing an investigation that focuses on the years prior to President Trump’s time in office. A court filing said the investigation began in March 2019 after longtime Trump lawyer Michael Cohen testified in Congress. At the time, Cohen said that the president had used self-reported “Statements of Financial Condition” to augment the value of his properties and mislead lenders and insurers,” according to the Washington Post.
In September, Eric Trump derided the investigation, claiming that the New York attorney general’s “targeting of my family violates every ethical rule she was elected to protect.” He called the investigation “an anti-Trump fishing expedition that she promised during her campaign.”
The NYAG’s targeting of my family violates every ethical rule she was elected to protect. Last month alone there were over 240 shootings in NYC, yet the NYAG’s sole focus is an anti-Trump fishing expedition that she promised during her campaign. New York is so lost. pic.twitter.com/Oca4KSaTVf
— Eric Trump (@EricTrump)
September 23, 2020
The attorney general sought Eric Trump’s deposition specifically concerning his connection to the Trump Organization’s Seven Springs property in Bedford, New York. Investigators claim Trump was “intimately involved” in developing those properties, according to CNN. Court filings show investigators claim that President Trump took a $21 million income tax deduction on “lost development value to the property.”