US courts set deadline to slap criminal charges on Trump Organisation
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Washington: The former US President Donald Trump's Organisation has been asked to respond within 24 hours for not taking criminal charges against his family business in the alleged manipulation of figures case by the two US courts.
The Manhattan district attorney, Cyrus Vance, and the New York attorney general, Letitia James, reportedly set a deadline for Trump lawyers to submit last arguments to avoid criminal charges against Trump's company.
Reports suggested that Vance conducted a probe into the possibly extensive and protracted criminal conduct, including tax and insurance fraud and falsification of business records by the Trump Organization.
The court is expected to announce criminal charges against the Trump Organization in a week and both the company and its chief financial officer would be accounted for the charges.
The relationship of the company with banks and other business partners is likely to be damaged by the indictment that eventually will make the company bankrupt.
James' office has been investigating whether the Trump Organization inflated the values of some properties to obtain better terms on loans, and lowered their values to obtain property tax breaks.