Trump Manhattan Properties Targeted By DA Are Struggling: Report
Four of Donald Trump’s Manhattan properties that feature prominently in a fraud investigation of the former president are struggling financially, and some have been placed on debt “watch lists” by banks, CBS News reported Thursday.
All four properties reportedly are key to the investigation into Trump’s finances led by Manhattan District Attorney Cyrus Vance.
Wells Fargo and other banks have warned investors who funded Trump’s loans that a revenue decline due in part to the coronavirus pandemic means some of the properties may not have enough money to make their mortgage payments, according to banker notes tracked by CBS MoneyWatch.
Vance is investigating some $280 million in loans over eight years to the Trump properties, The Wall Street Journal reported last month. Those loans were made by subsidiaries of Ladder Capital Corp., a real-estate investment trust based in New York, according to the Journal. The son of the Trump Organization chief financial officer works at Ladder Capital, the newspaper reported.
https://www.yahoo.com/huffpost/trump-manhattan-properties-fraud-debt-133855184.html
= new reply since forum marked as read
Just like his Atlantic City abomination
