©Reuters. FILE PHOTO: Former U.S. President Donald Trump addresses the audience at the American Freedom Tour event in Memphis, Tennessee, U.S. June 18, 2022. REUTERS/Karen Pulfer Focht/File Photo
(Reuters) – A New York judge on Tuesday charged real estate firm Cushman & Wakefield (NYSE: ) PLC with contempt of court for failing to produce documents used as part of an investigation into former US President Donald Trump’s business practices were subpoenaed.
A judge ordered the company to be fined $10,000 a day until it complied.
Attorney General Letitia James has been investigating Trump’s business practices for three and a half years, focusing on whether his company misrepresented the values of its properties to obtain cheap credit and tax deductions.
In April, James won an injunction to force Cushman to comply with subpoenas for records that would help determine if the valuations he had conducted on several Trump properties were fraudulent or misleading. Properties include the Seven Springs Estate in Westchester County, New York and 40 Wall Street in Manhattan.
In his Tuesday order, Judge Arthur Engoron ruled that Cushman & Wakefield’s daily sentence will begin on July 7. He criticized the company for waiting two days after the deadline to start applying for an extension.
“Cushman & Wakefield could not find a valid reason” for the delay, Engoron wrote.
Wakefield & Cushman said they have produced “over hundreds of thousands” of pages of documents and more than 650 reviews since the last subpoena in February.
“Cushman denies any suggestion that the company failed to comply with the court’s order with care and good faith, and we will appeal this decision,” a company spokesman told Reuters in an email.
The decision adds to a string of recent victories for James amid Trump’s efforts to shut down the investigation.
Republican Trump denies guilt and calls the investigation a politically motivated witch hunt.