House Democrats get Trump’s financial documents: Congressional oversight committee agrees with its accountants to turn over files after deciding NOT to appeal
- Committee Chair Carolyn Maloney announced the agreement on Thursday
- She said accounting firm Mazars USA will provide subpoenaed documents
- Trump “has agreed not to further challenge the DC Circuit’s decision,” she said
- The panel subpoenaed the information in 2019
- Former Trump attorney Michael Cohen testified about accounting practices
- Apparent settlement comes as Trump strengthens legal team after Mar-a-Lago raid
House Oversight and Reform Committee chair Carolyn Maloney announced she will receive Trump’s financial records after the former president agreed not to appeal an appeals court decision.
Maloney (DN.Y.) announced the breakthrough three years after her previous committee chair asked for it and weeks after she lost her own congressional primary.
“After numerous court victories, I am pleased that my committee has now reached an agreement to obtain important financial documents that former President Trump fought for years to hide from Congress,” she said in a statement.
The legal saga is so long and convoluted that Maloney released a timeline of the legal path that will give lawmakers insight into Trump’s accounting practices, which are also the subject of a civil investigation in New York.
The accounting firm Mazars, which managed the Trump Organization’s account, will provide documents to the House Oversight Committee in response to a subpoena, the committee announced
Beginning in 2019 under former Chairman Rep. Elijah Cummings, the panel subpoenaed accounting firm Mazars’ documents that the Trump Organization used as part of its investigation into “unprecedented conflicts of interest, self-dealing and foreign financial relationships.”
A key part of that investigation came when former Trump attorney Michael Cohen testified before the committee that the Trump Organization boosted valuations when seeking funding and then scaled them down when dealing with tax authorities.
This became a major area of focus for New York AG Letitia James.
The subpoena sparked a legal battle while Trump was at the White House defying the subpoena. It went all the way to the Supreme Court, which ruled 7-2 in 2020 that a lower court must consider the separation of powers issues and set a standard requiring legislative interest.
Carolyn Maloney (DN.Y.), Chair of House Oversight and Reform, announced the agreement. She lost her elementary school last month
Former Trump attorney Michael Cohen testified before the panel about Trump’s financial practices in 2019
The original subpoena was issued under the late Chairman Rep. Elijah Cummings (D-MD).
Ex-President Trump strengthens his legal team after the FBI manhunt in Mar-a-Lago. The committee said it agreed not to challenge Mazars’ decision in an appeals court
The DC Circuit Court of Appeals ruled that the latest subpoena met that standard.
“As part of the agreement reached by the committee, former President Trump has agreed not to appeal the DC Circuit’s ruling further, and Mazars USA has agreed to comply with the court’s order to submit relevant documents to the committee as soon as possible.” Maloney office.
Trump’s attorneys filed a document with the US Circuit Court of Appeals for DC on Aug. 31 announcing the agreement.
“In light of the panel’s opinion, on August 30, 2022, the plaintiffs, Mazars and the Committee reached a settlement in this case. Plaintiffs hereby withdraw their request to be heard again en banc,” the document reads.
Mazars USA announced in February it would cut ties with the Trump Organization and said it could no longer stand behind a decade’s worth of statements about the company’s financial health.
The apparent settlement comes as Trump deploys his legal resources on a new front as he faces a Justice Department investigation into removing and storing government documents at his Mar-a-Lago club in Florida.
Trump on Wednesday slammed the FBI for the way it photographed a collection of top secret documents found at his Mar-a-Lago office.
He has strengthened his legal team amid speculation that some of his lawyers may be factual witnesses in the case, one of whom has signed a document confirming a “diligent search” for classified information at Mar-a-Lago.
DailyMail.com has reached out to the Trump Organization for comment.
https://www.dailymail.co.uk/news/article-11169591/House-Oversight-panel-finally-Trump-financial-documents.html?ns_mchannel=rss&ns_campaign=1490&ito=1490 The House Oversight Panel will finally receive financial documents from Trump