Cushman & Wakefield Turns Over Tens Of Thousands Of Documents In Trump Probe
The real estate giant was held in contempt last month and ordered to pay $10K a day after the attorney general's office stated it had failed to turn over subpoenaed documents relating to appraisals of Trump properties. The office said it had found serious problems with appraisals of Trump Organization properties, including 40 Wall Street, Seven Springs in New York and a Los Angeles golf club, according to Axios.
But Cushman & Wakefield said that it had produced several hundred thousand pages of documents and 650 appraisals, Bisnow reported previously, dismissing claims it hadn't acted in good faith.
“Cushman has fully responded to the OAG subpoena that was recently at issue, and Cushman is pleased that OAG has fulfilled our agreement by asking the Court to dissolve its previous Contempt Order," a Cushman & Wakefield spokesperson wrote in an emailed statement to Bisnow. "Standing by the work of our appraisers, Cushman has gone to great expense and effort to identify, collect, review and produce the massive set of documents requested by the OAG. We will continue to work in good faith with the OAG.”
The OAG announced Aug. 5 that it had received Cushman & Wakefield's documents and asked that the contempt order be dissolved.
The move follows three years of investigations into the business practices of former President Donald Trump and the Trump Organization, led by New York Attorney General Letitia James.
Trump filed a lawsuit of his own in May to stop a civil investigation into the Trump Organization, which a federal judge dismissed, per Axios.
James alleges Trump and his three eldest children artificially inflated and deflated their properties to lower tax bills and to negotiate better terms on loans.