The Supreme Court handed former President Trump what the AP calls a "significant" defeat on Monday, ruling that Trump must hand over eight years of tax returns and financial records to prosecutors in New York. The decision means that Manhattan District Attorney Cyrus Vance Jr. will get valuable information in his criminal investigation of the Trump financial empire, an investigation that Politico ranks among the most serious of the legal threats Trump faces now that he's out of office. Trump has repeatedly gone to court to prevent access to his personal and corporate financial records, and Monday's decision marks the culmination of that fight, notes Axios. The court issued the ruling without comment and without noting any dissent among justices. "The work continues," Vance tweeted on Monday.
The former president has derided the investigation as a political "witch hunt." Last week, the New York Times reported that Vance added prominent white-collar prosecutor Mark Pomerantz to the team as the inquiry widens. Among other things, prosecutors are looking into allegations that the Trump Organization misled lenders and tax officials to receive loans and tax breaks, per the Times. Another part of the investigation revolves around payments made to Stormy Daniels and Karen McDougal, both of whom alleged having affairs with Trump. Vance subpoenaed the financial records from the Mazars USA accounting firm, which promised to comply before Trump began his legal objections. (Previously, the Supreme Court rejected Trump's broad claim of immunity in the case.)