New York prosecutors investigating Trump properties in New York: report
Manhattan District Attorney’s Office Expands Ongoing Investigation Into Former President Donald Trump’s Financial Transactions Over Loans On His New York Flagship Properties, the wall street journal reported on Saturday.
According to the report, which cites sources close to the investigation, the new parts of the investigation are linked to loans to Trump by subsidiaries of the New York-based real estate investment trust Ladder Capital Corp. A loan of 100 million dollars on Trump Tower is owed. next year, while more loans are due in the coming years, the report says.
The trust has loaned the former president more than $ 280 million for his four Manhattan properties since 2012, the report notes. Properties involved in the investigation include Trump Tower, 40 Wall St., Trump International Hotel and Tower, Trump Plaza, all located in Manhattan. New York prosecutors are also investigating the Trump organization’s Seven Springs property in Westchester County, according to the report.
It is not clear what the investigation is about, but experts told the Wall Street Journal it could relate to possible inconsistencies with loan documents and financial information submitted on other documents, such as his statements of income, according to the report.
The Manhattan District Attorney’s Office on Saturday denied an insider request to confirm the WSJ report.
As Insider previously reported, New York Attorney General Letitia James and Manhattan District Attorney Cyrus Vance Jr. investigate Trump’s personal finances and the finances of the Trump organization.
Last year, Vance, a Democrat who is facing a battle for re-election this year, won a Supreme Court decision this confirmed that he was able to obtain Trump’s tax returns and other financial documents, but Trump again appealed the decision on various grounds. The Supreme Court has not said whether it plans to hear the former president’s second appeal.
Trump called Vance’s investigation a “witch hunt,” while his lawyers called it a “fishing expedition,” as the Wall Street Journal noted on Saturday. The Trump organization did not immediately return Insider’s request for comment.
Trump and his eponymous organization are under further scrutiny now that he has been removed from office. A Chicago judge earlier in February ruled that his Chicago hotel violated environmental protection law for several years by improperly using water from the Chicago River to cool the building without the proper permit.