This development is the latest step towards Trump, 74, who left the White House in January, becoming perhaps the very first former U.S. leader to face criminal charges.
The grand jury was recently put in place and will sit three days a week for six months, The Washington Post reported on Tuesday, citing two anonymous people familiar with the case.
The panel is also hearing several cases unrelated to Trump’s case, the newspaper added.
The Associated Press and broadcaster ABC also reported the move.
The Washington Post said the grand jury formation suggests Manhattan District Attorney Cyrus Vance may have found evidence of a crime, if not of Trump, then a loved one.
A spokesperson for Vance declined to comment when contacted by AFP and Reuters news agencies.
Vance, a Democrat, conducted a more than two-year investigation into Trump’s trade relations prior to becoming president, and his office said in court documents it was examining “potentially widespread and prolonged criminal conduct” at the Organization. Trump family.
The investigation includes a close examination of Trump’s relationship with his lenders; a donation of land he made to be entitled to an income tax deduction; and the tax write-offs her company claimed on millions of dollars in consulting fees it paid.
New York State Attorney General Letitia James is also investigating the Trump organization and said last week his office was investigating the company as a “criminal” and working with Vance’s team. She is also a Democrat.
In the United States, prosecutors typically refer important cases to grand juries made up of citizens who review the prosecution’s case in secret. They hear testimony and may request additional documents before deciding whether criminal proceedings should be instituted.
Trump, who was a real estate developer and reality TV star before being elected president in 2016, says the investigation is a “witch hunt.”
“This is purely political and an affront to the nearly 75 million voters who backed me in the presidential election, and it’s being driven by highly partisan Democratic prosecutors,” Trump said in a statement.
Vance’s investigation initially focused on quiet payments made to two women who claim to have had a relationship with Trump – but has since been expanded.
Investigators suspect that the Trump organization artificially inflated and downgraded the value of assets, especially several properties in New York state, either to secure bank loans or to reduce their taxes.
After a lengthy legal battle, Vance’s office finally obtained Trump’s tax returns and other financial records in February.