Debts, civil but also criminal investigation ... The future of the future ex-president will be placed under the sign of trouble with justice. Despite his repeated denials.
What if that was one of the reasons Donald Trump is holding onto the White House so much? As soon as the keys are given to Joe Biden on January 20, the outgoing president will once again become a litigant like any other. And he could quickly be overtaken by his legal troubles.
In New York, he is in fact targeted by two investigations that could each lead to prosecution. The first, criminal and therefore potentially synonymous with prison, is initiated by the Manhattan prosecutor. Cyrus Vance is looking for possible facts of tax fraud, insurance fraud and accounting manipulations. This is why he wants to obtain eight years of tax returns from the Trump camp, covering the period from 2011 to 2018.
"The King of Debt"
Problem: Donald Trump, breaking with a long presidential tradition, has always refused to publish his tax returns. He also appealed to justice for the first time to prevent the communication of these documents, on the grounds that, according to him, he enjoyed presidential immunity until the end of his mandate. But he was rejected three times, the last by the Supreme Court.
Once the presidential parenthesis is closed, the case could nevertheless accelerate. Especially since the New York Times recently revealed that the president, although a billionaire, only paid $ 750 in federal taxes in 2016 and 2017, respectively. The president called these findings "bogus information" and assured to have paid "millions of dollars" in taxes.
The second, civil case was started by New York State Attorney Letitia James and seeks to determine whether the Trump Organization lied about the size of its assets to obtain loans and tax benefits. The prosecutor opened the investigation in 2019, after Donald Trump's ex-personal lawyer Michael Cohen - since convicted - testified before the U.S. Congress that the mogul overvalued or undervalued some of his real estate to get loans. or tax cuts.
The investigation is well advanced: on October 5, the head of the holding company - who is none other than Eric Trump, the president's son - testified, denouncing "a perpetual political vendetta".
Another concern for the real estate tycoon: his finances. If his fortune was estimated in September at 2.5 billion dollars by Forbes magazine, he lost 600 million dollars in one year. In addition, the man who nicknamed himself "the king of debt" during his election campaign in 2016 is facing an avalanche of checks to settle.
His loans and other personal debts reach $ 421 million, according to the New York Times, which also mentions a home loan of $ 100 million to be repaid before 2022.