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Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

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'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

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The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow

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Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

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'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

3

The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow

Michael Cohen Helps New York State Pursue Tax Case against Donald Trump’s Foundation

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Glenn Fleishman
Glenn Fleishman
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By
Glenn Fleishman
Glenn Fleishman
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August 22, 2018, 7:14 PM ET
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A day after President Donald Trump’s former attorney Michael Cohen pleaded guilty to eight charges in federal court, New York’s state tax agency has subpoenaed Cohen for records relating to the Trump Foundation—at Cohen’s prodding, according to his attorney.

The Department of Taxation and Finance confirmed the subpoena to several news outlets, including CNN.

Cohen’s attorney, Lanny Davis, told CNN on Tuesday night that his client had information “of interest both in Washington as well as New York state.” The New York Daily News, citing an anonymous source with direct knowledge, reported that Cohen called the tax agency to speak after the subpoena was issued.

Since before the 2016 presidential election, reporters have tracked allegedly illegal and unethical behavior by the non-profit Trump Foundation, once run by Donald Trump and his older children, with David Fahrenthold of the Washington Post leading the pack. Accounts include cases that appear to involve self-dealing, or the act of using charitable funds for the benefit of one’s personal interest; political contributions; using charity money for personal use like allegedly paying Donald Trump, Jr.’s Boy Scout membership fee in 1989 and buying a 6-foot-tall portrait of Trump; and to pay settlements or judgments against the for-profit Trump Organization.

New York Attorney General Barbara Underwood filed suit in June against the Trump Foundation and its officers—the president and three of his children, Donald Jr., Eric, and Ivanka—to dissolve the charity, disperse its $1 million in holdings, pay $2.8 million in restitution, and bar its officers from serving on a New York not-for-profit organization for 10 years. Underwood cited Trump campaign staff members directing donations from the foundation, among many other issues. Underwood said she lacks jurisdiction to pursue criminal charges, and sent letters to the Internal Revenue Service and the Federal Election Commission about “possible violations.”

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