Former President Trump is facing scrutiny from prosecutors in Manhattan over millions of dollars in loans he took out for several properties in New York, The Wall Street Journal reported Saturday.
Citing unnamed people familiar with the matter, the Journal reported that the office of Manhattan District Attorney Cyrus Vance is “investigating financial dealings” involving the Trump properties.
Specifically, the people said prosecutors are looking at loans that were made to Mr. Trump by subsidiaries of the same real-estate investment trust, Ladder Capital Corp., the Journal reported.
The loans, the Journal reported, were taken out for properties including Trump Tower, his flagship building on Fifth Avenue, as well as three others in Manhattan and an estate in Westchester, N.Y.
Ladder Capital lent Mr. Trump over $280 million for the Manhattan properties — Trump Tower; 40 Wall St; Trump International Hotel and Tower; and Trump Plaza — between 2012 and 2016, the report said.
“The refinancings led to significantly lower interest rates” for at least two of the properties, the Journal reported.
Trump lawyers and the Manhattan district attorney’s office declined to comment, the report said.