New York: Trump’s Manhattan properties on debt “watch lists”: CBS News

  • Manhattan DA inquiry into former President Donald Trump heats up, Initiated reported on Friday.
  • The investigation places a new review on Trump’s commercial properties.
  • Banks put three of former president’s buildings on debt “watch lists” CBS News noted.

As Manhattan District Attorney Cyrus Vance Jr. probe As former President Donald Trump shifts into high gear, four of Trump’s New York properties have come under scrutiny.

Trump Tower, Trump International Hotel and Tower, 40 Wall Street, and Trump Plaza have missed lender income projections for five consecutive years, CBS News reported.

Banks have now placed three of the four real estate holdings on debt “watch lists”, the outlet said.

Mortgage payment processors reported loans related to these three properties due to continued financial underperformance, CBS said.

Wells Fargo and other banks have told investors that reduced income from these holdings, due in part to the COVID-19 pandemic, could cause properties not to generate enough cash to cover their mortgage payments. , CBS News reported.

In addition to presenting Trump with financial problems, investigations into these properties could also pose legal problems.

The Manhattan District Attorney’s Office has subpoenaed a New York property tax agency in connection with the massive criminal investigation, Reuters reported. Prosecutors are looking for signs of possible fraud, the outlet said.

While the exact range of Vance’s sprawling probe is not known, court documents suggest he could investigate whether Trump and the Trump Organization violated New York City laws by manipulating the values ​​of these commercial properties for tax and loan purposes.

The wide-ranging investigation into whether Trump or his companies violated state tax laws could come to an imminent conclusion, Initiated reported on Friday.

John deanPresident Richard Nixon’s White House lawyer who played a major role in the Watergate scandal has said on Twitter that Trump could be charged in just days.

“From my personal experience as a key witness, I assure you that you don’t go to a prosecutor’s office 7 times if they don’t plan to indict those you know about,” said the tweet from Dean.

This refers to Michael Cohen, Trump’s former personal lawyer, meeting with prosecutors for the seventh time this week. His last meeting lasted more than two hours, NBC News reported.

Cohen, who was sentenced to three years in prison after pleading guilty to multiple crimes, has previously testified before Congress about Trump’s alleged financial mismanagement. In the Testimonial 2019, Cohen said Trump manipulated the value of assets “when it served his purposes.”

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