Ivanka Trump’s personal real estate dealings are reportedly under scrutiny from New York State Attorney General Leticia James.
James has been investigating the financial records of the Trump Organization — and the family who runs it — to determine if there is any evidence of manipulation of property values for the Trump Organization’s real estate holdings in order to obtain loans using inflated valuations while simultaneously claiming lower values for the same properties when filing their taxes.
Now, according to MSNBC’s Rachel Maddow, James is focusing on an apartment associated with Ivanka Trump for its role in helping the Trump Organization obtain the loans needed to lease and operate the Trump International Hotel in Washington DC.
According to Maddow, “Tish James is arguing that the means by which the Trump Organization described their own financial condition in order to get the lease and the loan were both fraudulent.”
The MSNBC host explained exactly how the alleged fraud surrounding Ivanka’s apartment took place:
“Under her rental agreement, she apparently had the option to buy that apartment if she wanted to, for the cost of $8.5 million,” Maddow reported. “But in the forms that were submitted to get the loans for the DC hotel, that very same apartment was listed as being worth more than $20 million. Then a few years later, they listed it as being worth $25 million — even though they knew there was an option to buy it for just $8.5 million. Attorney General James is looking into exactly that type of potentially illegally inflation of the Trump family and Trump Organization’s financial situation for a whole bunch of Trump properties.”
Unfortunately for Ivanka and her family, this is just one of many such misleading valuations claimed in loan documents that the New York State Attorney General is currently examining as state prosecutors comb through the reams of financial documents subpoenaed in her investigation.
You can watch Rachel Maddow’s reporting on the story in the video clip below.
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Vinnie Longobardo is the Managing Editor of Occupy Democrats. He's a 35-year veteran of the TV, mobile & internet industries, specializing in start-ups and the international media business. His passions are politics, music, and art.