U.S. Markets open in 53 mins
  • S&P Futures

    3,273.75
    -1.25 (-0.04%)
     
  • Dow Futures

    26,990.00
    -65.00 (-0.24%)
     
  • Nasdaq Futures

    11,024.25
    +35.25 (+0.32%)
     
  • Russell 2000 Futures

    1,479.90
    -2.90 (-0.20%)
     
  • Crude Oil

    39.35
    +0.04 (+0.10%)
     
  • Gold

    1,910.10
    -0.50 (-0.03%)
     
  • Silver

    24.22
    -0.17 (-0.71%)
     
  • EUR/USD

    1.1754
    -0.0019 (-0.1646%)
     
  • 10-Yr Bond

    0.6680
    -0.0030 (-0.45%)
     
  • Vix

    28.09
    +2.26 (+8.75%)
     
  • GBP/USD

    1.2815
    -0.0002 (-0.0154%)
     
  • BTC-USD

    10,475.03
    +37.31 (+0.36%)
     
  • CMC Crypto 200

    213.13
    -22.45 (-9.53%)
     
  • FTSE 100

    5,824.09
    +19.80 (+0.34%)
     
  • Nikkei 225

    23,360.30
    +40.90 (+0.18%)
     

Trump under investigation for bank and insurance fraud in New York, new court filing suggests

Tim O'Donnell

Manhattan District Attorney Cy Vance's recent court filing suggests President Trump and his company, The Trump Organization, may be under investigation for possible bank and insurance fraud, The New York Times reports.

The filing was made in response to a lawsuit by Trump's attorneys who have argued prosecutors were acting in "bad faith" by issuing a "wildly overbroad" subpoena seeking Trump's personal and corporate tax returns. Vance didn't disclose anything specific about what compelled him to go after the records, but the filing argued the subpoena wasn't too broad, since that notion is based on the "false premise" that the probe is limited to "hush-money" payments made by the president's former personal lawyer, Michael Cohen, in 2016.

Instead, the filing claimed "there were public allegations of possible criminal activity" at the company "dating back over a decade" and, therefore, a legal basis for the subpoena exists. Read more at The New York Times.

More stories from theweek.com
Why Obama still drives Republicans nuts
Trump's aides are reportedly promising him re-election if he 'nukes' his China trade deal
The most damning inside portrait of the Trump administration yet