US-based real estate firm Cushman & Wakefield arrested in contempt and fined $ 10,000 in a day

Attorney General James won a court order in April, to force Cushman to comply with the command for records that would help to decide whether appraisals it conducted for several Trump properties were misleading or not.

A New York judge on Tuesday held real estate firm Cushman & Wakefield PLC in contempt of court for not producing documents subpoenaed in a probe of former U.S. President Donald Trump‘s business practices.

On Tuesday, a New York judge arrested Cushman & Wakefield for not producing documents subpoenaed in a probe of former U.S. President Donald Trump’s business practices.

Cushman & Wakefield has to pay a fine of $ 10,000 a day until it has complied.

James has been investigating Trump’s business practices for the past 3 years, he was focusing on whether his company misstated the values of properties to obtain loans and save taxes.

The properties include Seven Springs estate in New York’s Westchester county and 40 Wall Street in Manhattan.

In his order on Tuesday, Justice Arthur Engoron ruled that the daily fine on Cushman & Wakefield would start on July 7. He criticized the company for waiting until two days after a deadline to commence the process of asking for another extension.

A company spokesperson informed in an email to Reuters “Cushman disagrees with any suggestion that the firm has not exercised diligence and good faith in complying with the Court’s order, and we will be appealing this decision.”

Trump denied wrongdoing and called the probe a politically motivated witch hunt.

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