City
Epaper

US SC to decide on release of Trump's tax records

By IANS | Updated: December 14, 2019 08:55 IST

The US Supreme Court has agreed to hear President Donald Trump's appeal of lower court orders, now on hold, that require relative banks and an accounting firm to turn over his financial records to the Democrat-led House of Representatives and prosecutors in New York.

Open in App

The justices made it possible for them to be heard during the current court term, most likely in March 2020, with a decision by the end of June, when the US general election campaign heats up, Xinhua news agency reported citing an NBC News report as saying on Friday.

The Second Circuit Court of Appeals in New York ruled on December 3 that Deutsche Bank and Capital One must comply with a subpoena from the House Financial Services and Intelligence committees demanding Trump's financial records as part of a congressional probe.

The US media earlier reported that Deutsche Bank has lent Trump's businesses millions of dollars in the past and Capital One is among the banks where the President has personal accounts.

The Second Circuit and the D.C. Circuit have both ruled that Trump's accounting firm, Mazars USA, must comply with separate subpoenas from Manhattan district attorney Cyrus Vance and House investigators.

On November 18, U.S Chief Justice John Roberts said that the Supreme Court had issued a temporary stay of a federal appeals court ruling that granted the House Oversight and Reform Committee access to Trump's financial records between 2011 and 2018 from Mazars USA.

The panel issued the subpoena to Mazars USA in April after the President's former personal lawyer Michael Cohen had testified that "Trump inflated his total assets when it served his purposes and deflated his assets to reduce his real estate taxes".

Trump's legal team has argued that if the lower court rulings are allowed to stand, any committee of Congress could subpoena any personal information it wants from a President.

The Supreme Court currently has five conservatives and four liberals.

( With inputs from IANS )

Tags: usMazars UsaSecond Circuithouse
Open in App

Related Stories

NationalFlorida Plane Crash: 2 Killed After Small Aircraft Crashes in Coral Springs Lake (Watch Video)

InternationalFung Wong Live Tracker Map: Tropical Storm Triggers Flash Floods Across Guam; Check Real-Time Status Here

InternationalNew York: 7 Firefighters Injured in Car Blast in The Bronx (Watch Video)

InternationalLouisville Plane Crash: 7 Killed, 11 Injured After UPS Cargo Flight Crashes Near Airport in Kentucky; Videos Surface

BusinessUS Visa Medical in Pakistan: How to Book Your Appointment Fast & Stress-Free

International Realted Stories

InternationalG7 reaffirms "free and open Indo-Pacific", opposes any "unilateral attempts to change the status quo"

InternationalEarthquake of magnitude 4.1 strikes Tibet

InternationalLavrov, Jaishankar to hold talks on bilateral, international issues on Nov 17 in Moscow

InternationalHazardous smog grips Pakistan's Punjab as AQI soars across major cities

InternationalConsciences only awakened after their monopoly was curtailed: Khawaja Asif on SC judges' resignations