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Trump Asset Value Probe ‘Well Founded,’ Appeals Court Says (1)

May 26, 2022, 9:11 PM

Former President Donald Trump must testify under oath in New York’s “well founded” probe of his company, a state appeals court ruled.

The appellate panel in Manhattan on Thursday upheld a lower-court ruling from February, rejecting Trump’s argument that New York Attorney General Letitia James opened the investigation because she’s politically biased.

James, who is probing potentially fraudulent asset valuations at the Manhattan-based Trump Organization, only started the probe after Trump’s former lawyer and fixer Michael Cohen testified to Congress in 2019 that the company “had issued fraudulent financial statements,” the appeals court said.

“This sequence of events suggests ...