Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

U.S. Supreme Court rulings due Thursday on Trump financial records cases

Published 07/08/2020, 11:58 AM
Updated 07/08/2020, 02:31 PM
© Reuters. FILE PHOTO: U.S. President Donald Trump holds 4th of July U.S. Independence Day celebrations at the White House

By Lawrence Hurley and Jan Wolfe

WASHINGTON (Reuters) - The U.S. Supreme Court is due on Thursday to rule on President Donald Trump's bid to block his financial records from being obtained by Democratic-led House of Representatives committees and a New York prosecutor.

The court announced on Wednesday that it will issue on Thursday the final rulings of its current term, which began last October. They include three cases focused on Trump's efforts to block subpoenas issued to third parties - not the Republican president himself - to hand over his financial records, which he has fought hard to keep secret through his entire presidency.

Two of the cases involve subpoenas issued by Democratic lawmakers seeking the president's financial records from his longtime accounting firm Mazars LLP and two banks, Deutsche Bank (DE:DBKGn) and Capital One.

The third involves subpoenas issued to Mazars for financial records including nearly a decade of Trump's tax returns to be turned over to a grand jury in New York City as part of a criminal investigation by the office of Manhattan District Attorney Cyrus Vance, a Democrat.

It is part of a criminal investigation that began in 2018 into Trump and the Trump Organization spurred by disclosures of hush payments made to two women who said they had past sexual relationships with him. Those women are pornographic film actress Stormy Daniels and former Playboy model Karen McDougal. Trump and his aides have denied the relationships.

Trump, unlike other recent presidents, has refused to release his tax returns and other financial records that could provide details on his wealth and the activities of his family real-estate company, the Trump Organization.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

One other ruling is due on Thursday. It involves a case in which a Native American tribe member is challenging his rape conviction by arguing that the location where the crime was committed should have been considered a tribal reservation outside the reach of state criminal law. The ruling could lead to a huge swathe of Oklahoma being recognized as a tribal reservation.

Latest comments

It will be 5-4 in Trumps favor the conservative judges won't let him down.
supreme court dont fail us now...show his records
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.