As part of its continued search to find something to charge former President Donald Trump with regarding his real estate holdings, the Manhattan District Attorney’s office is now investigating loans given to Trump for multiple properties.
The Wall Street Journal reported about the new investigation on Saturday, though it is unclear why the probe is now looking into these loans. Trump has received nearly $300 million in loans from companies connected to Ladder Capital Corp. a New York-based real estate investment firm that doesn’t appear to be under any sort of scrutiny itself. The latest probe is specifically looking into the loans given to Trump for the Trump Tower, Trump International Hotel, Trump Plaza, and a skyscraper in New York’s Financial District.
The probe into the loans is part of a larger investigation led by Manhattan District Attorney Cyrus Vance, a Democrat who has been trying to get his hands on Trump’s personal and corporate tax records for years.
Trump in August called the entire investigation “the continuation of the worst witch hunt in American history,” after Vance’s attempt to get a federal court to allow him to investigate vague “protracted criminal conduct at the Trump Organization.”
In September 2019, Trump sued Vance after he subpoenaed Trump’s tax returns, The Daily Wire previously reported.
“In response to the subpoenas issued by the New York County District Attorney, we have filed a lawsuit this morning in Federal Court on behalf of the President in order to address the significant constitutional issues at stake in this case,” Trump attorney Jay Sekulow said in a statement at the time.
As the Journal reported on Saturday, Ladder, the company that provided about $280 million in loans to Trump for various buildings, gives out loans and sells the debt to investors as commercial-backed securities. As the New York Post reported, Trump began taking out loans with Ladder in 2012.
“In 2012, Trump asked Ladder for a $100 million loan for the 58-story Trump Tower, the site of the Trump Organization offices and his own penthouse apartment,” the Post reported. “In 2014, Trump took out a loan for $15 million for Trump Tower, and a year later Ladder loaned Trump $160 million for 40 Wall St., a 71 story tower. In 2016, he took out a loan for $7 million from the firm for the Trump International Hotel and Tower, according to financial disclosures.”
The loans provided by Ladder allowed Trump to “significantly lower” the interest rates on the properties, the Journal reported.
Vance’s investigation is part of a wider attempt to destroy Trump personally. As The Daily Wire’s Tim Pearce previously reported, Deutsche Bank AG and Signature Bank announced in January they would stop doing business with Trump because of the January 6 Capitol riot. Signature Bank said in a statement:
We have never before commented on any political matter and hope to never do so again. However, as Americans we are deeply, deeply saddened by the rioting and insurrection which took place in the most sacred of American institutions, our United States Capitol.
To witness a rioter sitting in the presiding chair of the U.S. Senate and our elected representatives being told to seek cover under their seats is appalling and an insult to the Republic. We witnessed the President of the United States encouraging the rioters and refraining from calling in the National Guard to protect the Congress in its performance of duty.
At this point in time, to ensure the peaceful transition of power, we believe the appropriate action would be the resignation of the President of the United States, which is in the best interests of our nation and the American people.
Social media outlets have also banned Trump from their platforms.