The Manhattan District Attorney’s Office is investigating some $280 million in loans over eight years to 4 Donald Trump properties in Manhattan, The Wall Street Journal reported Saturday.
The loans — to his flagship Trump Tower on Fifth Avenue, Trump International Hotel and Tower, Trump Plaza and a high-rise within the monetary district at 40 Wall Street — had been all made by subsidiaries of Ladder Capital Corp., a real-estate funding belief based mostly in New York, in keeping with the Journal. The son of the chief monetary officer of the Trump Organization works at Ladder Capital, the newspaper reported.
Manhattan DA Cyrus Vance had earlier launched a bigger probe into alleged discrepancies between insurance coverage, tax and financial institution claims by the Trump Organization.
There had been no different particulars concerning the newest probe, however the Journal speculated that the main focus could possibly be comparable.
Vance has been battling to acquire Trump’s tax returns and different monetary filings since 2019. Trump had argued that as a sitting president, he couldn’t be investigated. But the (*4*) in July. Trump is appealing the decision on completely different grounds.
The Trump Organization refused to reply to the Journal’s requests for remark.
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