Donald Trump appraisers Cushman & Wakefield must hand over documents

  • In a second victory Monday for NY AG Letitia James’ investigation into Trump’s affairs, her former evaluators must now turn over documents.
  • Cushman & Wakefield had fought to have the AG’s “overbroad” subpoenas overturned.
  • The same Manhattan judge who approved C&W’s subpoenas scorned Trump earlier Monday.

A Manhattan judge has ordered longtime Donald Trump evaluators Cushman and Wakefield to turn over documents to New York Attorney General Letitia James.

The decision is the second victory Monday for James’ investigation into the former president’s business dealings; in a press release, James promised, “our investigation will continue undeterred.”

Earlier Monday, the same judge, New York State Supreme Court Justice Arthur Engoron, held Trump personally in contempt of court and ordered him to also comply with subpoenas for James, who in his case ask for his personal business documents.

Trump must also pay a fine of $10,000 a day, Engoron ordered.

It’s unclear when Trump would start paying the fine. His attorney, Alina Habba, said after court she would move quickly to draft and sign an affidavit that will address the court’s concerns by outlining precisely where the Trump Organization looked for its documents before it found itself empty.

As for Cushman & Wakefield, the company, which severed ties with Trump’s business last year with much fanfare, must hand over all documents relating to its previous real estate work with Trump by May 27.

The company must also provide details of thousands of comparable non-Trump reviews and marketing communications relating to their decision to sever ties with Trump’s company.

“Cushman broke ties about a year ago, didn’t he? the judge asked AG attorney Kevin C. Wallace during Monday afternoon’s hearing.

“Yes, your honor.”

“And you want to see internal documents explaining why they did this?” asked the judge.

“I think it’s fair to say they had a loud outing,” Wallace said.

In February, Trump’s longtime accounting firm Mazars USA also announced — loudly — that it was severing ties with the former president’s firm.

The AG’s office believes Cushman has a decade-long history of issuing questionable statements about Trump’s property values, Wallace said.

The AG’s office said those questionable assessments were used by Trump to secure hundreds of millions of dollars in loans and tax breaks.

These properties include the Trump family’s Westchester County estate, Seven Springs, Trump National Golf Club near Los Angeles and 40 Wall Street in Manhattan.

Cushman valued Trump’s stake in the skyscraper at $220 million in 2012. Three years later, they valued his stake at $550 million, more than double what they said three years earlier. .

Trump’s attorneys left without commenting on the decision.

“For the second time today, a judge has made it clear that no one is above the law,” James said in his press release.

“Cushman & Wakefield’s work for Donald J. Trump and the Trump Organization is clearly relevant to our investigation, and we are pleased that it has now been confirmed by the court.”

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