Rep. Elijah Cummings, D-Md., Announced Friday he intends to issue a subpoena for 10 years of President Trump's financial records.
According to a memo the House Oversight and Reform Committee chairman shared with the panel on Friday, he will issue a subpoena to accounting firm Mazars USA for all records the accounting firm has concerning Trump, his revocable trust, the Trump Organization, and other Trump interests. The subpoena also requests the accounting firm to provide communications between one of their partners and Trump.
In February, Trump's former personal attorney Michael Cohen testified before the panel and said Trump exaggerated his assets in financial statements to deceive lenders and investors. Cohen, who is set to serve a three-year sentence for campaign finance crimes and lying to Congress, shared copies of several financial statements from Trump.
According to Cummings' memo, the statements raise grave questions on whether Trump was honest in his financial reporting.
"The Committee has full authority to investigate whether the President may have engaged in illegal conduct before and during his tenure in office, to determine whether he has undisclosed conflicts of interest that may impair his ability to make impartial policy decisions, to assess whether he is complying with the Emoluments Clauses of the Constitution, and to review whether he has accurately reported his finances to the Office of Government Ethics and other federal entities, "Cummings wrote in the memo.
Instead of having the committee vote on whether to issue a subpoena, Cummings said he was providing House Oversight Committee ranking member Jim Jordan, R-Ohio, with 48 hours' notice ahead of issuing the subpoena. Cummings said no vote would be held because the committee will be in recess for two weeks.
Jordan characterized Cummings' actions as "an astonishing abuse of this Committee's authority and a disgraceful departure from the fair and legitimate oversight he promised to the American people just 73 days ago."
"This unprecedented action is based solely on the testimony of Michael Cohen, a convicted liar, "Jordan said in a statement. "It is now clear why Chairman Cummings refuses to keep his promise to hold Cohen accountable for his lies before our committee: Chairman Cummings will not let the truth get in the way of his obsession with attacking the president and the first family." [1
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