Trump property dealings being investigated by New York prosecutors, report says

Trump property dealings being investigated by New York prosecutors, report says


Trump property dealings being investigated by New York prosecutors, report says

Trump property dealings being investigated by New York prosecutors, report says

Prosecutors are reportedly looking into loans given to Mr Trump by subsidiaries of Ladder Capital, a real-estate investment trust, people with knowledge of the matter told the newspaper.

These loans were for some of the former president’s glitziest New York properties including his flagship Trump Tower on Fifth Avenue; an art deco skyscraper in the Financial District; Trump International Hotel and Tower, a hotel and condominium building at Columbus Circle; and Trump Plaza, an apartment building on Manhattan’s East Side.

Ladder Capital has lent Mr Trump more than $280million for the four properties since 2012, according to The Wall Street Journal.

Lawyers for Mr Trump and the Trump Organization have declined to comment on the investigation to the newspaper.

The Independent has contacted the Trump Organization and the Manhattan DA’s office for comment.

The former president has called the probes a partisan “witch hunt” led by Manhattan DA Cyrus Vance, a Democrat.

Mr Trump’s lawyers have previously described the probes as a “fishing expedition” in an attempt to view Mr Trump’s tax returns, which he’s withheld from the public throughout his entire presidency.

In July, the Supreme Court ruled that Mr Trump had to turn over his tax returns to the DA’s office. The former president has since appealed the ruling and it has not yet been determined if the high court would take on the case again.

It is the latest investigation by the Manhattan District Attorney’s Office into Mr Trump’s business dealings.

Mr Vance launched a probe into the Trump Organization’s business dealings in the city by subpoenaing his tax returns in September 2019. Last month it was revealed that the probe was extended to dealings that included the former president’s Seven Springs estate in Westchester County, New York.

A separate investigation was also launched by the office of Manhattan Attorney General Letitia James, looking into civil fraud in 40 properties that also includes the Seven Springs estate and the skyscraper in the Financial District.

Lawyers of the former president also said that this investigation is being driven by politics.


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