While there was good news for Donald Trump in Washington on Saturday when his second impeachment trial resulted in an acquittal, disturbing news came from his native New York.
The Wall Street Journal reported Prosecutors in town are investigating approximately $ 280 million in loans to the Trump Organization related to four buildings in Manhattan: Trump Tower on Fifth Avenue; a skyscraper at 40 Wall St; a hotel and apartment building on Columbus Circle near Central Park; and an art building on the Upper East Side.
The investigations seem to be an extension of a previously confirmed Manhattan Democratic District Attorney Cyrus Vance Jr. elaborates on what the prosecution has termed “potentially extensive and lengthy criminal conduct in the Trump Organization.”
Trump has described the New York investigation, sparked by an alleged hush money payment of $ 130,000 to adult film star Stormy Daniels for alleged sexual association, as “the continuation of the worst witch hunt in American history.”
The Journal reported that investigators could look for differences between loan documents and declared insurance ratings or tax returns.
Trump took out $ 100 million against Trump Tower in 2012, the Journal said, adding that he had taken out $ 15 million against Trump Plaza, the property on the Upper East Side, over the next three years; $ 160 million against 40 Wall St; and $ 7 million against Trump International Hotel and Tower in Central Park South.
The Journal reported that loans from subsidiaries of Head of Cital, a real estate investment trust employing Jack Weisselberg, son of the Trump Organization’s CFO Allen Weisselberg. Neither was accused of wrongdoing. In 2018 the elder was Weißberg granted immunity to testify in the hush money investigation.
By avoiding convictions in his second impeachment trial, Trump was able to run again for office. But without the protection of the Office, he is vulnerable to prosecution. The New York attorney general is also investigating the Trump organization.
The Journal reported that the Trump Tower loan will mature in 2022 and others will mature in the next few years. The Manhattan District Attorney has not confirmed an expansion of the investigation to include the Journal.