The Supreme Court ordered Trump to file tax returns and other accounting records with New York prosecutors on Monday.
The decision is a major defeat for Trump, who has been resisting the release of accounting records for months.
These notes are of great importance for the ongoing criminal investigation.
“These could be very important parts of the puzzle,” Daniel R. Alonso, a former U.S. federal and New York state attorney, told the BBC.
Why is Trump’s accounting important?
The criminal investigation is being conducted by New York state prosecutors.
Manhattan District Attorney Cyrus Vance is leading the investigation.
Vance and his colleagues are investigating whether Trump committed financial crimes.
Trump says he did not commit financial crimes in the first place and that the investigation was opened entirely for political purposes.
Prosecutor Vance is investigating the Trump Organization’s tax returns and accounting records, which include companies owned by Trump and his family.
This is one of two known criminal investigations against Trump.
Another criminal case concerns allegations that Trump tried to change the results of the last presidential election in the Georgian province.
How did you get to this point?
The investigation began in 2018, when Trump was still president.
As a first step, the role of the Trump campaign in payments to silence two women in the run-up to the 2016 presidential election was examined.
In 2018, Donald Trump’s personal lawyer, Michael Cohen, was tried under federal law for his role in the case and sent to prison.
Meanwhile, prosecutor Vance was investigating whether the Trump campaign violated New York state laws regarding these payments.
However, the investigation was not over. Prosecutor Vance expanded the investigation to include other possible crimes.
The New York Times quoted anonymous sources as saying that prosecutor Vance was “investigating whether Trump, his companies and employees have committed crimes, including violations of insurance, tax and banking laws.”
Here is the importance of tax and accounting.
The prosecutor needs these documents to prove that any crime was committed.
For months, prosecutors have been trying to obtain Trump’s eight-year personal and corporate declarations.
In July last year, the Supreme Court ruled that Trump’s remarks could be reviewed by prosecutors, but Trump’s lawyers objected that the decision was “harmful to the purpose.”
The Supreme Court rejected the appeal on Monday.
Now the prosecutor’s office will take all these documents and start investigating.
Former prosecutor Daniel R. Alonso told the BBC that the decision was decisive, but that it would mean examining millions of documents.
In a very brief statement following the Supreme Court’s decision, Manhattan Attorney Cyrus Vance said, “The case is ongoing.”
Trump calls the investigation a “political witch hunt.”
What can be in the documents?
The notes will give prosecutors a more comprehensive picture of Trump’s financial performance.
Prosecutors will have the opportunity to make certain assumptions about the investigation, meet with witnesses and find out whether state laws have been violated.
Along with Trump’s tax returns, accountants’ reports and correspondence with clients are among the documents to be sent to prosecutors.
According to court records, Prosecutor Vance considers tax evasion to be one of the possible crimes.
Many Americans use legal loopholes to minimize the taxes they are legally required to pay.
However, accounting documents are important to determine the legitimacy of the methods used in tax reporting.
The investigation will take time to review these documents. Therefore, it is highly probable that the investigation will not be completed during the term of prosecutor Cyrus Vance, whose term of office will expire at the end of this year.
How much for a nut seriously a danger?
It is unknown at this time whether prosecutors will file criminal charges against Trump, his company or his business partners.
There is a possibility that nothing will come out of the investigation.
However, if prosecutors can prove corruption, a criminal case can be filed.
Some tax evasion is considered a “serious crime” in New York state law and carries heavier penalties.
If the lawsuit is filed, it is theoretically possible that Trump will be summoned to a New York court.
If that assumption, which is now entirely theoretical, materializes, it could seriously affect Trump’s chances of returning to politics.
But today we can say that the incident is just an investigation into the possibility of a crime.