NYC prosecutors' probe into Trump finances expands to include millions loaned for Chicago skyscraper

[highplainsdem]

Source: CNN

The Manhattan district attorney's office subpoenaed documents from an investment company that loaned the Trump Organization millions of dollars for its Chicago skyscraper in a sign that the investigation into the former president's finances continues to expand, according to people familiar with the investigation.

Prosecutors issued the grand jury subpoena to Fortress Investment Management late last year, the people said, as part of their wide-ranging investigation into former President Donald Trump and his company.

-snip-

Their interest in Fortress relates to a $130 million loan the company made to the Trump Organization for the construction of a luxury hotel and condo tower in Chicago.

By 2012, Fortress subsequently forgave more $100 million of the loan, which, including interest and fees, was worth about $150 million, according to court filings. The forgiveness was done to secure a partial re-payment of about $45 million at a time when the real estate market was suffering from the financial crisis.

-snip-


Read more: https://www.cnn.com/2021/03/08/politics/trump-chicago-subpoena/index.html

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The prosecutors are investigating whether Trump and Trump Org reported the loan forgiveness as income, as the IRS requires, and paid taxes on it.

[Blue Owl]

1. And I've heard that tower is half vacant...

The T***P name is toxic in Chicago...

[mopinko]

2. i dont think it is even half.

the ground floor retail has never been occupied. the bar and restaurant have been empty since before the plague.
i doubt they got asking on a single unit. no idea how many they sold, but it wasnt good.

[Blue Owl]

7. That is music to my ears!!!

[speak easy]

8. And here is the very song !

[iluvtennis]

10. I didn't discover Neil Young (and Crosby, Still, Nash, & Young) until my 40s...but he's a great

songwriter. Love this video - thanks for posting it.

[monkeyman1]

3. + they like to pollute the Chicago river they dump into !

[tikka]

4. They also have a strange $50million debt that one of his subsidiaries own.

[link:http://www.motherjones.com/politics/2019/09/donald-trump-has-never-explained-a-mysterious-50-million-chicago-unit-acquisition-loan-is-it-evidence-of-tax-fraud/|

[soothsayer]

5. There is a long back story behind Trump Tower Chicago including Trump defaulting on a $640 mil to De

Link to tweet

?s=21



Olga Lautman
@OlgaNYC1211
There is a long back story behind Trump Tower Chicago including Trump defaulting on a $640 mil to Deutsche Bank who went back to giving him loans. Fortress is also interesting and provided loans to Kushner as well

[oasis]

6. Go ahead prosecutors, lower the boom on his sorry ass.

[Marie Marie]

9. Oh I want his ass to rot in jail for the rest of his miserable life but

does anybody here think that he, as a former President, will actually be sentenced to prison? I am curious as to whether or not you all think that will happen - no matter how bad and deep the corruption?

[FakeNoose]

11. Not enough Russian mobsters are willing to move to Chicago

... and they're the only customers Chump ever had.

So ...

[Withywindle]

12. It'll be different from other famous landmarks in Chicago

When it's sold and the name is taken off, people will start using the new name IMMEDIATELY and they'll smile when they do it.