Manhattan District Attorney Cyrus Vance III subpoenaed financial records from Fortress Investment Management, a New York investment group affiliated with SoftBank, for records of a $130 million the Trump Organization owed for the construction of the Trump Tower in Chicago, CNN reports.
The grand jury subpoena, issued in December, wants records relating to a $100 million loan which covered about 12% of the overall construction costs of the structure, which was built between 2005 and 2009.
While the Trump Org paid down some of the debt, by 2012, the loan had ballooned to a $150 million in outstanding debt, interest and fees. For some reason, Fortress forgave the loan. At the time, the real estate market was falling, and Fortress reportedly accepted $45 million to close the books on the deal.
The Manhattan District Attorney’s office is looking into allegations that the Trump Organization and its officers criminally manipulated the values of various properties it owned or operated to lower the values when it had to pay taxes or raise the values when properties needed to be used for collateral for loans.