Trump sues to prevent release of financial records

By Viktoria Ristanovic
Nation & World Editor

Cummings believes the president is misrepresenting his net worth (YouTube).

On April 22, President Donald Trump and his organization filed a lawsuit to prevent U.S. lawmakers from acquiring the president’s financial records from an accounting firm that he used to assemble his financial statements. The accounting firm is Mazars, according to CNN.

According to Reuters, the chairman of the House of Oversight Committee, Elijah Cummings, sent the subpoena to Michael Cohen, Trump’s former lawyer. Cummings claimed Trump “misrepresented his net worth.”

Trump’s current lawyers are deeming the subpoena invalid and “unenforceable,” Reuters reported. They are arguing that the subpoena is exceeding “constitutional limits on the power of Congress to investigate.”

Reuters also reported that the president’s lawyers believe this is a tactic to reveal Trump’s private financial information and statements to expose him and that the information could be used as political ammunition against Trump both presently and in the 2020 election.

According to CNBC, Cummings stated that Trump has long attempted to use baseless lawsuits to go after those who oppose him, but there is there is no authority to interfere with a subpoena from Congress.

William Consovoy, the president’s lawyer in this lawsuit, said that Cummings’ committee’s attempt to “‘acquire private information from their accountants is an abuse of power and an instance of Trump’s political rivals reaching far beyond what they should, CNBC reported.

The Trump Organization is also a plaintiff in the lawsuit. Reuters stated that the president is suing in his own capacity and has a private law firm representing him instead of government lawyers from the U.S. Department of Justice.

CNN stated that the House Intelligence and Financial Services panels have also subpoenaed “nine financial institutions as part of an investigation into Trump’s finances.” Trump’s personal lawyers sent letters to companies and the Treasury Department in response to this and warned that they should not release the information.

The case filing reported that the Democrats have sent out more than 100 subpoenas and requests “to anyone with even the most tangential connection to the President,” according to Reuters.

1 Comment on Trump sues to prevent release of financial records

  1. As a 1974 TSC alumni, I do not believe the President’s tax returns should be given to Congress. There is no rule stating he must turn over his returns, and unless court orders his returns to be issued to a prosecutor for reasonable cause, his records should remian private. This issue boils down to politics, and a hut to remove him from office. There is no working relationship in congress – Look how many votes are along strictly party lines. Test yourself. Talk about politics of the nation or any issue facing the government with a person holding the opposite point of view you have. While in college, I thought I was a liberal, as I supportted people’s rights, and their actions, as long as they did not hurt others or themself, and obeyed the law as written. Now, I have been re labled, by former classmates as being wrong for voting for Trump. My response is – I have been a student of history, and up to date on ‘ today’s news ‘ ( I worked in network news for almost 30 years, presented the news – during a vacation job for ten years ) What I believed in dduring high school and college – that America would improve – handle the soicail unfrest and various issues – has proved to be false. The powers back then,and throughout many years ince have failed – the problems of back then are now worse – the same politicians – or their relatives are still in power, and the working people have continued to be marginalized. Wether Democrat or Republican, or even Independent, they b=preach the same goals they have not achieved in half a century. If you want a challenge and to better this country – Seek term limits, Seek any law passed by Congress shall be subjected equally upon all members, of Congress. Seek to remove Congressional pensions, cost of living allowances, and all benefits, unless they serve 10 full years. Seek equality which your leader have not passed to you.

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