Posted on 03/05/2019 4:03:45 PM PST by E. Pluribus Unum
New York State regulators have issued an expansive subpoena to the Trump Organization’s longtime insurance broker, the first step in an investigation of insurance policies and claims involving President Trump’s family business, according to the company and a person briefed on the matter.
The subpoena was served late Monday on the company, Aon, one of the largest insurance brokerage firms in the world, as part of an inquiry by the New York State Department of Financial Services.
It came just days after Michael D. Cohen, Mr. Trump’s former fixer and lawyer, indicated in congressional testimony that the Trump Organization inflated the value of its assets to insurance companies.
The subpoena is the latest sign that the Trump Organization is facing scrutiny from multiple fronts — federal prosecutors, congressional Democrats, and now, insurance regulators.
The Department of Financial Services does not conduct criminal investigations, nor does it have authority over Mr. Trump or the Trump Organization, but it can refer any possible illegal activity to prosecutors.
The federal prosecutors in Manhattan have been investigating the Trump Organization’s role in hush money payments to women who claimed to have affairs with Mr. Trump. Mr. Cohen, who pleaded guilty to federal crimes in connection with those payments, has also told the prosecutors about irregularities in the company’s insurance practices, The New York Times reported last month.
While the prosecutors are largely viewed as independent, the president and his allies have dismissed much of the other scrutiny as politically motivated.
The subpoena from the state agency that regulates insurance, which is part of the administration of Gov. Andrew M. Cuomo, a Democrat and vocal critic of Mr. Trump, landed on the same day that even broader scrutiny came to bear on the president, his administration and his business from House Democrats.
(Excerpt) Read more at nytimes.com ...
Insurance payments?? Are they Fing kidding?
How far do they have to push Trump before he takes off the damn gloves.
They can’t indict a sitting President. This is all fodder for their phony impeachment. They will just make up crimes and vote.
They should probably check is AAA discount card use while they’re at it.
Trump’s former fixer and lawyer, indicated in congressional testimony that the Trump Organization inflated the value of its assets to insurance companies.
It’s hearsay with zero proof and so what if he inflated the value of his companies.
Owners of anything always think what they have is worth more.
Aon would have had estimators do the valuation of the properties...
They’re setting this up to draw-and-quarter him after he leaves office
Trump needs to activate the quash subpoena machine.
1. If you are paying premiums on a property/casualty insurance policy, you are undermining yourself if the premium is based on an excessively high value of the asset.
2. If you file a claim on the basis of an "inflated value" of an asset, the insurance company has all the legal leverage they need to avoid paying the full claim.
So if she supported all of Trump’s policies you’d still be against her?
Do you understand how perverted that is?
Uh ... whut?
Wrong thread. Sorry.
OK. It sounds like an interesting topic on that other thread. LOL.
The thread is if AOC were a conservative would you like her?
What a stupid question.
Policy is what matters.
Some people have way to much energy invested in their dislike for her, apparently.
A truly ugly person. Physically & mentally.
IF I inflate the value of my property-—I ALSO pay a HIGHER premium, don’t I*?
I also would think that Trump properties are of such quality that they would rise in value faster than average properties.
In accounting, we would call this: “Picking the flyshit out of the pepper”.
Trump needs to start raining down the sealed indictments...and keep adding more.
Whatever
He can value them at whatever price he cares to or wants to
The insurance company has estimators and they can make a valuation as well
Even a buyer might pay more than what Trump is asking for
Anybody can set the value
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