Finance

New York state officials subpoena Trump Org’s longtime insurance broker

State officials in New York have subpoenaed the longtime insurer for the Trump Organization, Aon, over claims that the Trump Organization and President Trump himself were involved in efforts to inflate the company’s assets for insurance purposes.

The New York Times reports that Aon received a subpoena Monday, a sign of a state investigation into Trump’s business ties.

{mosads}The New York State Department of Financial Services, which has no prosecutorial power of its own but can refer potential instances of illegality to state attorneys, is reportedly overseeing the investigation.

The Trump Organization did not immediately return a request for comment from The Hill.

Scrutiny of Trump’s use of insurance policies related to his assets arose after testimony from Michael Cohen, Trump’s longtime attorney, before the House Oversight and Reform Committee last week during which Cohen told Rep. Alexandria Ocasio-Cortez (D-N.Y.) that the president had been involved in the illegal inflation of assets to obtain higher insurance values.

“To your knowledge, did the president ever provide inflated assets to an insurance company?” Ocasio-Cortez asked the president’s former associate.

“Yes,” Cohen responded.

Cohen also told the committee last week that several Trump Organization officials, including Chief Financial Officer Allen Weisselberg, would be able to provide more evidence.

The materials requested by New York state officials include all records of communications between Trump, the Trump Organization and Aon officials, according to the Times. The information is due under the subpoena by March 9.

Trump’s financial holdings have long been a target of critics who argue that the president is violating the Emoluments Clause of the Constitution by placing his company into a trust controlled by his sons rather than selling his assets.

The New York probe comes as members of the House Judiciary Committee have requested documents from a large field of current and former associates to the president, including members of his family.

The list of more than 80 individuals and organizations targeted by the House panel was released on Monday and includes Weisselberg as well as former members of the Trump administration and transition team including Sean Spicer and Reince Priebus.
Tags Alexandria Ocasio-Cortez Donald Trump New York Reince Priebus Sean Spicer Subpoena Trump Organization

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