The 213-acre Seven Springs estate in Westchester County, N.Y. / PHOTO: JOHN MINCHILLO/AP
Posted on 03/10/2021 4:25:53 AM PST by Liz
Manhattan prosecutors are intensifying their investigation into Trump’s businesses, taking aim at a Westchester County, N.Y., estate that the former president unsuccessfully tried to develop, according to people familiar with the matter.
Subpoenas center on Trump Organization’s failed efforts to develop the 213-acre property into a luxury subdivision
In recent weeks, according to the people, the Manhattan district attorney’s office has issued new subpoenas and requested recordings of local government meetings related to the Trump Organization’s failed attempt to create a luxury subdivision at Seven Springs, a 213-acre property that the former president bought for $7.5 million in 1995.
Mr. Trump has valued the property at up to $291 million in financial statements that the New York attorney general’s office, which is also investigating Seven Springs, said were given to financial institutions. Inflating assets to help secure loans or other financial benefits can be a state criminal offense, legal experts said.
The scrutiny of Seven Springs is part of a broader criminal probe into Mr. Trump, his company and its officers that also includes financial dealings at properties such as Mr. Trump’s flagship Trump Tower in Manhattan, The Wall Street Journal has previously reported.
Outside of New York, prosecutors are also examining a loan for the Trump International Hotel and Tower Chicago, people familiar with the matter said, which CNN reported earlier.
(Excerpt) Read more at wsj.com ...
The 213-acre Seven Springs estate in Westchester County, N.Y. / PHOTO: JOHN MINCHILLO/AP
Meanwhile, where is Hunter’s laptop? Where did Joe stash the millions he received from China?
I'm guessing it was a foreclosure because it's definitely not a $7.5 mil property and what he paid was far different from the assessed evaluation.
The case goes to show the complete ignorance of the NY AG WRT how real estate is bought, sold and developed.
Moot? This is Trump.This is New York. This is Rat Party Headquarters. There are no statutes of limitations that apply in cases like this...not 1995,not 1895.
Going back 25 years. Total fishing expedition.
This is prosecutorial harassment. Wonder if this is actionable.
Right. Because anyone who lends money to someone who uses property as collateral for the loan is just going to accept the borrower’s estimate of the asset’s value without a third-party appraisal.
“I have a $250,000 home that I insist is worth $2 million, Mr. Banker. Will you give me a $1 million second mortgage on the property, please?”
These people really are morons.
The scrutiny of Seven Springs is part of a broader criminal probe into Mr. Trump, his company and its officers...
—
The process is the punishment. The message is a warning anyone who even thinks of challenging the Permanent State that you will be destroyed.
“This is prosecutorial harassment.”
And I would add prosecutorial zealotry, the kind that Ray Buckey dealt with back then.
Right. Because anyone who lends money for property used as collateral for a loan is just going
to sap-happily accept the borrower’s estimate...... without a third-party appraisal. (h/t alberta's child)
Must be a law against this.......pull their law licenses, I say.
So they have nothing then? lol
I also tend to think the doofusses are trying to find out how Trump played the realty game.....to get tips on how to do it themselves.
Oh, they’ll find something, probably had the wrong
plumbing permits or P traps instead of S traps...
I absolutely agree. My profession involves me these development matters. Trump doesn’t have to inflate anything to get a loan. He has assets up the kazoo.
Meanwhile, the Harkles get no questions about whether or not they’re dodging US income taxes by having Harry here on a diplomatic visa.
And I’ll just throw this one in for giggles...
https://www.illinoispolicy.org/pritzkers-toilet-removal-contractor-gets-nearly-9m-in-covid-19-work/
Donald had two A/C casinos at the time and offered to help out Barron.
Within a week Trump had $350 million "cash" to buy out Barron.....(and got himself another casino license later).
Barron took the Trump deal....b/c the only other offer was from L/V's Steve Wynn that entailed only part cash.
Son Barron Trump is named after Barron Hilton.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.