New York state officials subpoena Trump Org's insurance broker, AON via: http://hill.cm/pwbmKDP
State officials in New York have subpoenaed the longtime insurer for the Trump Organization, Aon, over claims that the Trump Organization and President Trump himself were involved in efforts to inflate the company's assets for insurance purposes.
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Scrutiny of Trump's use of insurance policies related to his assets arose after testimony from Michael Cohen, Trump's longtime attorney, before the House Oversight and Reform Panel last week during which Cohen told Rep. Alexandria Ocasio-Cortez (D-N.Y.) that the president had been involved in the illegal inflation of assets to obtain higher insurance values.
www.nytimes.com/…
The subpoena was served late Monday on the company, Aon, one of the largest insurance brokerage firms in the world, as part of an inquiry by the New York State Department of Financial Services.
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The Department of Financial Services does not conduct criminal investigations, nor does it have authority over Mr. Trump or the Trump Organization, but it can refer any possible illegal activity to prosecutors.
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The nine-page subpoena demands a broad range of materials regarding Aon’s business with Mr. Trump and the Trump Organization dating back to 2009, according to the person briefed on the matter, who spoke on the condition of anonymity because he was not authorized to discuss it publicly.
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The New York regulators are requesting copies of the insurance policies ultimately issued to Mr. Trump and the Trump Organization, as well as applications and financial statements used to secure the policies, the person said.
CNBC: www.cnbc.com/…
The demand for documents from Aon came five days after Trump’s former personal lawyer Michael Cohen told a congressional committee that Trump himself had inflated company assets for insurance purposes.
The Times story on Tuesday noted tha New York Department of Financial Services previously eyed the Trump Organization.
In 2017, the NY DFS examined Trump’s company’s longstanding dealing with the lender Deutsche Bank. That probe did not result in any sanctions on the bank.
The DFS probe is a civil investigation. However, any evidence of criminal activity discovered by the department can be referred to state prosecutors.
We are getting closer, folks, to learning more and having more evidence for indictment, impeachment, trial, conviction, removal, and jail time of a lot of the people crooks in the nepotist’s arena.
Wednesday, Mar 6, 2019 · 5:53:39 AM +00:00 · LokiMom
This is interesting and new: www.chicagobusiness.com/...
In a December 2007 deposition, Trump identified an Aon insurance broker named Pamela Newman as one of his company’s insurance contacts. Newman, who didn’t respond to requests for comment, donated thousands of dollars to Trump’s 2016 campaign and the Make America Great super PAC that supported his candidacy, federal election records show.
When lenders “see Pam is involved, they feel much more comfortable,” Trump said in a November 2011 television interview that identified Trump as one of Newman’s biggest clients.
Wednesday, Mar 6, 2019 · 5:58:54 AM +00:00 · LokiMom
From freebeacon.com/… This is more detail on what may have been part of the subpoena documents — links to Pam Newman in detail on her relationship to Trump.
Pamela Newman is the president and CEO of the Newman Team at Aon Corporation and works out of the address that the Trump campaign dispersed the funds to.
Newman, a Manhattan insurance executive and prominent New York City fundraiser, was the first person to donate to Trump’s campaign, which formally launched on June 16, 2015. Her $2,700 donation, the maximum amount, is dated June 1, 2015—more than two weeks before the campaign had formally launched.
In addition to providing a maximum donation to Trump’s campaign, Newman gave tens of thousands to a pro-Trump Super PAC one month after his campaign kicked off.
Two transactions are shown from Newman to the Make America Great Again Super PAC on July 15, 2015. The first transaction was a donation in the amount of $30,000, which was later refunded, while the second was a $25,000 in-kind contribution, which is typically designated toward a particular good or service. Newman’s in-kind contribution does not list a purpose.
The first payment from Trump’s campaign to Aon Risk Services Northeast, Inc., a subsidiary of Aon Corporation located in New York City, was made on May 27, 2015 in the amount of $6,933.
Later, on Jan. 11, 2016, a second payment was made totaling $116,343. On Feb. 24, 2016, a third transaction in the amount of $175,441 was given to the New York City office for insurance services, bringing the total paid to Aon Risk Services Northeast to $298,717.
Wednesday, Mar 6, 2019 · 6:03:26 AM +00:00 · LokiMom
THANKS to Kurious for this comment too on Pam Newman:
“Donald Trump Got $17 Million Insurance Payout for Damage Few Recall. (AP/ Fortune, 10/24/16):
Donald Trump said he received a $17 million insurance payment in 2005 for hurricane damage to Mar-a-Lago, his private club in Palm Beach, but The Associated Press found little evidence of such large-scale damage…
...said he didn’t know how much had been spent on repairs but acknowledged he pocketed some of the money…
...Palm Beach building department records show no permits for construction on that scale after the storms...The only permits that appeared hurricane-related were for $3,000 in repairs to storm-damaged outdoor lighting and the vacuuming of sand from the property’s beachfront pool…Under local rules, major repairs would have required Trump to request a permit and pay permit fees…
Trump apparently has a cozy relationship with “Pamela Newman, a leading insurance broker for Aon Risk Services Inc.” who has handled Trump’s property insurance for a long time. She’s...
..a leading insurance broker for Aon Risk Services Inc. Neither Newman nor AON would discuss the case with AP.
Speaking on conditions of anonymity...
Two former Aon employees familiar with the company’s work for Trump said Trump’s company was routinely late on insurance premium payments and regularly threatened to take its business elsewhere…
Newman apparently used Trump’s name to in sales pitches to wealthy clients, according to the Aon employees.
Newman’s ties to Trump have endured. He and she both sit on the board of New York’s Police Athletic League. She has attended galas at Mar-a-Lago and donated the legal maximum of $2,700 to his presidential exploratory committee before he announced his run. She followed up last July with $25,000 in donations to the Make America Great Again PAC, according to Federal Election Commission records…
Wednesday, Mar 6, 2019 · 6:14:51 AM +00:00 · LokiMom
apnews.com/… notes:
Newman’s ties to Trump have endured. He and she both sit on the board of New York’s Police Athletic League. She has attended galas at Mar-a-Lago and donated the legal maximum of $2,700 to his presidential exploratory committee before he announced his run. She followed up last July with $25,000 in donations to the Make America Great Again PAC, according to Federal Election Commission records.
According to the Trump deposition, Newman led the effort to obtain a payout on the Mar-a-Lago insurance policy. Trump did not identify which insurer actually footed the bill and the AP was unable to identify who paid the claim.
Documenting an insurance claim as large as the one that Trump made on Mar-a-Lago typically involves extensive verification of the damage.