Letitia James, who is leading the investigation informed a court that the investigation has unearthed evidence the Trump Organisation had used “fraudulent or misleading” valuations of its assets to reap economic benefits. Now, court filings by Ms James’s office show the probe is actively looking into the finances around Trump International Scotland.

The investigation alleges Mr rump’s firm overstated the value of its land and highlighted its ability to construct 2,500 homes at the site, despite the fact that neither the Trump Organisation nor its Scottish subsidiaries have ever been granted planning approval for the construction of these properties.

In a motion that seeks a court order enforcing testimonial subpoenas issued to Mr Trump and two of his adult children, Ms James said her office had collected “significant additional evidence indicating that the Trump Organisation used fraudulent or misleading asset valuations to obtain a host of economic benefits, including loans, insurance coverage, and tax deductions”.

The sections of land which make up the Scottish resort were purchased by the Trump Organisation in 2006 for $12.6 million (£9.2m).

The investigation is particularly concerned with the firm’s ‘statements of financial condition’. The documents are designed to detail Mr Trump’s assertions of his net worth, based principally on asserted values of particular assets minus outstanding debts, The Scotsman reports.

Between 2004 and 2020, such statements were compiled by Mazars, relying on a supporting data spreadsheet and back-up material prepared by Mr Trump’ s firm. Ms James alleges the statements misstated objective facts, miscategorised assets, failed to use fundamental valuation techniques, and failed to advise that certain valuations were inflated for brand value.

Ms James’ latest filing states the Trump Organisation’s supporting data led to Trump International Scotland being valued at £75 min in 2011, the year before it opened.

In Trump International Scotland’s accounts for 2011, the firm stated that its total assets, less current liabilities, stood at £20.4m.

In 2014, Mr Trump’s firm valued the resort at $435m (£320m). Some four-fifths of that 2014 valuation was derived from the Trump Organisation’s estimate of the property’s residential development potential. That same year, accounts filed with Companies House put Trump International Scotland’s total assets, less current liabilities, at £29.7m.

The latest court filing indicates that when asked about the difference between the numbers cited by the Trump Organisation, and the actual number of properties approved for building, Allen Weisselberg, the company’s chief financial officer, “could not explain this discrepancy”.

In a statement, Ms James said: “The Trumps must comply with our lawful subpoenas for documents and testimony because no one in this country can pick and choose if and how the law applies to them. We will not be deterred in our efforts to continue this investigation and ensure that no one is above the law.”

However, a spokesperson for the Trump Organisation said that the allegations were “baseless and will be vigorously defended”.

In 2017, Mr Trump and Ivanka Trump resigned from their roles at Trump International Scotland. His son, Donald Trump Jr and his brother, Eric, are still directors.