New York prosecutors are investigating financial deals surrounding some of Donald Trump‘s iconic Manhattan properties, expanding the known scope of the criminal investigation of the former president and his company, according to people familiar with the matter. People said Manhattan prosecutors are examining loans Trump obtained for his Fifth Avenue flagship, Trump Tower; 40 Wall St., an art deco skyscraper in New York City’s financial district; Trump International Hotel and Tower, a hotel and condominium building on Columbus Circle; and Trump Plaza, an apartment building on the East Side of Manhattan.
All of the loans under scrutiny were made to Trump by subsidiaries of Ladder Capital Corp. LADR, + 1.76%, a New York City-based real estate investment trust, the people said. Since 2012, Ladder Capital has loaned Trump more than $ 280 million for the four Manhattan buildings, according to property records. Lawyers for Trump and the Trump Organization declined to comment. Trump has called the investigation a partisan “witch hunt” led by Manhattan District Attorney Cyrus Vance Jr., a Democrat. Trump’s lawyers have called the investigation a “fishing expedition” in Vance’s attempt to obtain the former president’s tax returns. An expanded version of this report appears on WSJ.com.