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New Investigation Follows Cohen's Insurance Claims

NY regulators subpoena Trump Organization's insurance broker
By Arden Dier,  Newser Staff
Posted Mar 6, 2019 8:00 AM CST
Aon Center in downtown Chicago is shown in 2005.   (AP Photo/Charles Rex Arbogast, file)
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(Newser) – Add one more to the list of investigations linked to President Trump: A week after Michael Cohen told the House Oversight Committee that his former client had inflated the value of assets to insurance companies comes news that the New York State Department of Financial Services is investigating the Trump Organization's insurance practices. The New York Times reports "an expansive subpoena" was sent Monday to the company's longtime insurance broker, Aon. The nine-page document, which doesn't identify wrongdoing, demands "a broad range of materials regarding Aon's business with Mr. Trump and the Trump Organization dating back to 2009," including "copies of all communications" and records on compensation for Aon employees, the Times reports, citing a person briefed on the matter.

A rep confirmed receipt of the subpoena on Tuesday, per CNN, adding "we intend to cooperate with all regulatory bodies." The documents, which could take months to review, are to be turned over by March 19, per the Times, which notes additional subpoenas are likely to follow. The Department of Financial Services, which reviewed the Trump Organization's relationship with Deutsche Bank in 2017, would then refer any criminal activity to state prosecutors. The probe will coincide with another launched by the House Judiciary Committee. On Monday, the committee demanded documents of 81 individuals and entities as part of its investigation into possible obstruction of justice, corruption, and abuse of power by the president. The Trump Organization, Donald Trump Jr., Jared Kushner, and others are also to respond by March 19. (Subpoenas could then follow.)

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