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Trump’s Ex-Broker Says NY Probe Threatens Other Clients’ Privacy

May 11, 2022, 1:59 PM

A real-estate brokerage long used by Donald Trump said a subpoena issued as part of a New York probe into the former president’s business could force it to compromise other clients’ private information.

Cushman & Wakefieldis appealing an order to comply with the subpoena issued by New York Attorney General Letitia James. In court filings on Tuesday, the firm said the information sought by James’s office included confidential records of nearly 1,000 clients unrelated to the Trump Organization or to the probe.

James is investigating Trump’s use of potentially misleading asset valuations for financial gain. The attorney general has zeroed in on Cushman’s appraisals of three Trump properties: the Seven Springs Estate in Westchester County, Trump National Golf Club in Los Angeles and 40 Wall Street in Manhattan.

A judge last month ordered the firm to comply with the attorney general’s demands at the same hearing at which Trump was held in contempt of court and fined $10,000 a day for failing to respond to a subpoena in the same probe.

Cushman, which severed ties with Trump last year after the Jan. 6 Capitol riot, said in a statement that it has already handed over all records related to the Trump properties, and that the new subpoena goes too far.

“The Attorney General has now ordered us to turn over tens of thousands of pages of documents related to our work with nearly 1,000 clients that have no connection whatsoever to the Trump Organization,” according to the statement.

James’s office didn’t immediately respond to a message seeking comment.

Cushman also claims in its filings that the attorney general’s lawyers breached a written confidentiality agreement by disclosing to the judge various documents that the company had handed over to investigators for limited review.

The case is New York v. Trump Organization, 451685/2020; appeal over depositions is 2022-00814; Supreme Court of the State of New York (Manhattan).

To contact the reporter on this story:
Erik Larson in New York at elarson4@bloomberg.net

To contact the editors responsible for this story:
Katia Porzecanski at kporzecansk1@bloomberg.net

Anthony Lin

© 2022 Bloomberg L.P. All rights reserved. Used with permission.

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