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Manhattan District Attorney, Cy Vance , summoned a new special grand jury to hear evidence in the investigation of the Trump Organization, the eponymous company of former President Donald Trump, said to ABC News sources familiar with the matter.
The new grand jury was summoned when The original special grand jury time limit is about to expire.
The new six-month special grand jury will allow the case on possible crimes committed by the Trump Organization, related to the value of properties and the payment of taxes, to continue to be investigated further beyond Vance’s mandate if necessary.
Vance will step down in early January when District Attorney-elect Alvin Bragg will assume it. In a landmark victory, Bragg was elected as Manhattan’s first African-American district attorney on Tuesday.
The grand jury news was first reported by The Washington Post. A person familiar with the matter told the Washington Post that the second grand jury was expected to examine how former President Trump’s company valued its assets.
The initial grand jury issued an indictment in June against the Trump Organization and its longtime CFO Allan Weisselberg . Both have pleaded not guilty.
The first indictments filed in the case in July involved corporate profits for which, allegedly, no taxes were paid. So, the Trump Organization and Weisselberg were indicted in what prosecutors said was a scheme of 15 years to compensate top executives “off the books” and help them avoid paying taxes.
The former president Donald Trump has not been charged with any crime. The question of whether Trump tampered with his property valuations was raised in 2019 by Michael Cohen , a longtime Trump attorney, in his testimony before Congress.
In the past, Trump and his family have criticized Vance’s investigation, and a separate civil investigation into his business by the NY Attorney General Letitia James, for being motivated by politics and not by law.
Both Vance and James have previously said they were examining allegations that the Trump Organization misled banks, insurance companies or tax authorities by manipulating the value of their assets to obtain fees favorable loan rates or lower your taxes.
Cy Vance’s research is aimed at possible crimes, while the investigation James’s civil law could end in a lawsuit.
But Letitia James’ office has also played a role in Vance’s criminal investigation, sharing information and lawyers. James recently announced that she will run for Governor of New York at 2022.
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