Trump hotels, other businesses reportedly subpoenaed, but executive Matthew Calamari expected to avoid charges

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Prosecutors in New York have issued new subpoenas for records on former President Donald Trump's properties as part of an ongoing criminal probe of his business, a new report said Wednesday.

The prosecutors in Manhattan District Attorney Cyrus Vance Jr.'s office also recently told the Trump Organization's chief operating officer, Matthew Calamari, that they do not plan to indict him, Calamari's lawyer said.

The demand for the documents shows a renewed focus by investigators from the DA's office on the accuracy of Trump's statements about the value of his company's various real estate assets, according to The New York Times, which first reported the subpoenas.

Michael Cohen, Trump's onetime personal attorney and fixer, in testimony to Congress in 2019 accused Trump of inflating the value of his assets and overstating his personal wealth in financial documents for potential lenders. Experts at the time said that testimony raised questions about possible fraud.

The DA's office this summer charged both the Trump Organization and its chief financial officer, Allen Weisselberg, with crimes related to an alleged scheme to avoid paying taxes on executive compensation.

The Times reported that prosecutors had for months weighed whether to pursue related charges against Calamari.

"I have been informed that there is no present intention to bring charges against Mr. Calamari," his attorney, Nicholas Gravante, told CNBC in an email. "We believe that is the fair and just decision."

"What the future holds in terms of the District Attorney's continuing investigation is anyone's guess," Gravante said. "In the meantime, however, we are pleased that the considerations raised on Mr. Calamari's behalf have not fallen on deaf ears."

Calamari's son, Matthew Calamari Jr., was called to testify in September before a Manhattan grand jury, which is hearing evidence about the probe behind closed doors.

Gravante told NBC News that if the elder Calamari is subpoenaed to speak before the grand jury, "he will appear and testify truthfully."

The new developments come as Trump, the de facto leader of the Republican Party despite losing the 2020 election to President Joe Biden, openly signals he could run for president again in three years.

The Times' report said that the new subpoenas from Vance's prosecutors include requests for records about Trump's hotels, golf clubs and office buildings.

Investigators also recently interviewed a banker from Deutsche Bank, which lent hundreds of millions of dollars to Trump's company, the Times reported, citing people with knowledge of the probe.

Vance spokesman Danny Frost declined to comment to CNBC.

A spokesperson for New York state Attorney General Letitia James, whose office is also involved in the probe, had no immediate comment.

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