Manhattan DA probing loans to Trump buildings
Manhattan prosecutors are probing nearly $300 million in loans to some of Donald Trump’s iconic properties in the city, according to a report.
The Manhattan District Attorney’s office is investigating loans the former president took out on the Trump Tower on Fifth Avenue, the Trump International Hotel and Tower at Columbus Circle, Trump Plaza on the Upper East Side and a skyscraper in the Financial District, according to sources cited by the Wall Street Journal Saturday.
The loans were all made to Trump by companies connected to Ladder Capital Corp., a New York-based real estate investment firm, the newspaper reported. The firm has loaned Trump more than $280 million since 2012, according to property records.
The probe is part of a wider investigation into alleged insurance and bank fraud by the Trump Organization led by Manhattan DA Cyrus Vance. Last year, prosecutors requested eight years’ worth of financial records from the company’s accounting firm, Mazars USA LLP.
“This is the continuation of the worst witch hunt in American history,” Trump told reporters in August after Vance tried to convince a federal court to move forward with the investigation into “protracted criminal conduct at the Trump Organization.”