United States President Donald Trump at the White House in Washington, DC, October 18, 2019.
Leah Millis | Reuters
WASHINGTON – Manhattan District Attorney Cyrus R. Vance Jr. has set up a grand jury for his far-reaching investigation into former President Donald Trump. The Washington Post reported Tuesday, citing two sources familiar with the probe.
Prosecutors have been investigating Trump, the Trump Organization and its officials since at least 2018. The grand jury signals that they are ready to produce evidence and possibly bring charges.
The panel was recently convened, according to The Washington Post, but it wasn’t clear when exactly. She will meet three days a week over a period of six months.
A Trump spokesman did not respond to a request from CNBC for a response on the legal developments.
In New York State, this type of special grand jury typically hears a number of different cases and is particularly useful on complex, long-term matters.
Although much of Vance’s investigation is still opaque, court records and witnesses have confirmed that prosecutors are investigating various types of financial activities that Trump and the Trump Organization have carried out.
Among them is whether the former president and his company mistakenly increased the value of their real estate for insurance specialists and mistakenly undervalued the real estate for tax purposes.
Another area of investigation is how the Trump Organization paid its top executives and whether taxes were paid on various forms of compensation.
Earlier this year, Vance and his team won a lawsuit over Trump’s tax returns that they had cited from the company that prepared them.
The former president has repeatedly and emphatically denied any wrongdoing. He has accused the prosecutor of embarking on a politically motivated investigation.
For more information on the Trump Grand Jury, see Read the full story from the Washington Post.