Supreme Court rules Trump’s tax returns must be handed over to prosecutors

(NY DAILY NEWS) – The hunt for President Trump’s taxes is over.

The Supreme Court ruled Thursday that Trump’s tax returns must be turned over to prosecutors in New York, dealing a major blow to the president and paving the way for the potentially incriminating documents to be released publicly before November’s election.

The historic 7-2 decision forces Mazars USA, a financial accountant long used by Trump and his family business, to comply with a subpoena from Manhattan District Attorney Cy Vance, Jr., requesting eight of the president’s most recent personal and corporate returns as part of a grand jury criminal investigation.

The Supreme Court was also expected to rule Thursday on whether Deutsche Bank must comply with a subpoena for a similar set of documents issued by three Democrat-led House committees.

Vance and the lawmakers had to use the backdoor way of asking Deutsche and Mazars for the records since Trump refused to release them voluntarily. He’s the only president in modern memory who didn’t put out his tax returns for public scrutiny upon taking office.

The battle over Trump’s financial records began in April 2019, when the Democrat-led House committees fired off subpoenas to Deutsche Bank and Mazars USA as part of a web of inquiries into financial misdeeds by the president.

Vance followed up by issuing a subpoena in September 2019 to Mazars for a similar set of documents as part of a criminal investigation into whether Trump’s namesake company falsified corporate records while scrambling to pay off women who had alleged affairs with him before the 2016 election.

Trump sued to block the financial institutions from complying with either of the subpoenas and rolled out legal arguments that contradicted themselves in the process.

On the one hand, Trump’s lawyers argued that Vance didn’t have legal standing to subpoena Mazars because only Congress holds the constitutional power to investigate a president.

But in the other case, the lawyers argued that the House committees didn’t have any legitimate reasons to investigate Trump, either, claiming they were subjecting him to “harassment.”

This is a breaking story. Please check back for updates.

By News784

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