N.Y. prosecutors set sights on new Trump target: Widely different valuations on the same properties

[mahatmakanejeeves]

Source: Washington Post

Politics

N.Y. prosecutors set sights on new Trump target: Widely different valuations on the same properties

By David A. Fahrenthold, Jonathan O'Connell, Josh Dawsey and Shayna Jacobs
Today at 6:00 a.m. EST

The Trump Organization owns an office building at 40 Wall Street in Manhattan. In 2012, when the company was listing its assets for potential lenders, it said the building was worth $527 million -- which would make it among the most valuable in New York. (1),(2)

But just a few months later, the Trump Organization told property tax officials that the entire 70-story building was worth less than a high-end Manhattan condo: just $16.7 million, according to newly released city records.

That was less than one-thirtieth the amount it had claimed the year before.

That property is now under scrutiny from the Manhattan district attorney and New York attorney general, along with several others like it for which the Trump Organization gave vastly different value estimates, according to public records and people familiar with their investigations who spoke on the condition of anonymity to discuss ongoing inquiries.

{snip}

By David Fahrenthold, Jonathan O'Connell, Josh Dawsey and Shayna Jacobs

(1) https://www.washingtonpost.com/context/donald-j-trump-statement-of-financial-condition-2012/16c1c684-165e-4c57-9546-ac01760bef02/

(2) https://therealdeal.com/issues_articles/the-office-slump/



Read more: https://www.washingtonpost.com/politics/trump-organization-investigation-property-values-vance-james/2021/11/19/78c15850-4706-11ec-95dc-5f2a96e00fa3_story.html

---

Hat tip, Joe.My.God.

NY Prosecutors Zero In On Trump Property Valuations
November 22, 2021

https://www.joemygod.com/2021/11/ny-prosecutors-zero-in-on-trump-property-valuations/

NEW: NY prosecutors are now focused on whether Trump broke the law by providing widely different valuations for the same properties.

In one case, Trump told lenders a bldg was worth $527M— but told tax authorities it was worth just 1/30th of that.

Link to tweet

Trump’s practice of giving different valuations for the same properties was detailed in this great
@propublica
story…

Link to tweet

[msfiddlestix]

1. Wondering whatever happened with the Manhattan's investigations?

Cy Vance AWOL?

He's retired?

Cases Closed?

[gab13by13]

3. Yeah, what have they been doing?

Cy Vance has a bit of a history doesn't he?

[msfiddlestix]

6. So I've read.. I have no links but over the years..

not a high character individual.

[C_U_L8R]

2. Bank Fraud. Insurance Fraud. Tax Fraud.

C'mon, this crime racket has been going on for decades. Why aren't they all in jail?

[jimfields33]

10. The city let's people dictate their property taxes?

That’s incredibly stupid. My house is assessed automatically by the county. To think I could just tell them in New York. Wow.

[Walleye]

4. Fraudulent valuation. Perfect description of trump's whole life

[Faux pas]

5. Kickin'

time for the hump to go DOWN.

[AverageOldGuy]

7. Call me . . .

. . . when Trump is indicted for anything.

1-800-NEVERHAPPEN

[RevBrotherThomas]

12. Yawn...

Agreed. He has more than enough legal firepower to keep any/all of his charges tangled up in the courts until well after he croaks.

Best we can hope is maybe his idiot children will face some kind of justice...

[S/V Loner]

8. For God's sake. I think they are going to drag all this out...

hoping he dies of natural causes first.
Charge him for Christ sake and stop fucking around.

[Lonestarblue]

11. Didn't Michael Cohen either testify or say in public that Trump did this fraud all the time?

That was at least two years ago, and they’re only now deciding to investigate! What the hell is wrong with people too afraid to go after this criminal. Has Trump threatened them with his Russian and NJ mafia buddies?

[S/V Loner]

14. It's crazy. n/t

[KPN]

9. Other than prosecutors set their sites on a new target,

is any of this new? Is anything surprising to anyone other than — gee, what happened to the original investigation? Lock the bastard up already!

[Marcuse]

13. That's not new.

[Deb]

16. A school tax cheat. Cheating children. No, thieving from children.

[Karma13612]

17. I thought he

Did this in a county north of the city as well??

Westchester or Putnam county?? I know it was some large bit of property with some fancy buildings on it.

I could be confusing it. He’s always being investigated for SOMETHING!!

[Justice matters.]

18. Wall Street over evaluation to lenders vs taxman...

In 2012, when the company was listing its assets for potential lenders, it said the building was worth $527 million — which would make it among the most valuable in New York.

But just a few months later, the Trump Organization told property tax officials that the entire 70-story building was worth less than a high-end Manhattan condo: just $16.7 million.

https://www.washingtonpost.com/politics/trump-organization-investigation-property-values-vance-james/2021/11/19/78c15850-4706-11ec-95dc-5f2a96e00fa3_story.html

.

Orange terrorist probably is above the law again?? (Will nothing be done about this again?)