Trump Faces Another Setback Over His Business Finances
President Trump is facing another setback in his efforts to keep documents and tax returns from his days as a real estate mogul out of the hands of a Manhattan prosecutor.
A federal appeals court in New York dismissed his latest objections.
The president’s attorneys are now going to try it at another federal court. It is unlikely that the documents for the November 3 presidential election will surface, as there is also a long legal path to the Supreme Court.
However, that court recently rejected claims that the president is inviolable and therefore his administration cannot be transferred. That would prevent anyone from making claims against the head of state and keeping him from work. But the chief justices disagreed.
The Manhattan prosecutor who claims Trump’s finances in multiple investigations is Democrat Cyrus Vance, son of Secretary of State of the same name in Democratic President Jimmy Carter’s administration.
Prosecutor Vance thinks Trump has committed tax fraud with his companies and wants to see tax returns from Trump and his companies over many years. Trump’s companies form a conglomerate, The Trump Organization.
The conglomerate now has approximately five hundred companies. It was founded in 1923 by the parents of the current president and is owned by Trump. However, he no longer leads the organization since he was elected president in 2016. His kids are doing that now.