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PoliticsGovernment moves to seize Manafort's condo in Trump Tower

15:30  25 may  2019
15:30  25 may  2019 Source:   thehill.com

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The federal government moved on Friday to formally take possession of former Trump campaign chairman Paul Manafort ’ s apartment in Trump Tower , according to court documents.

Special Counsel Robert Mueller has moved to seize former Trump campaign chairman Paul Manafort ' s condo in Trump Tower in New York. According to a court filing from Friday, the seizure is expected take place on or after Oct. 20. The prosecutors said the federal government would "take

Government moves to seize Manafort's condo in Trump Tower© Getty Images Paul Manafort forfeited $22 million in New York real estate.

The federal government moved on Friday to formally take possession of former Trump campaign chairman Paul Manafort's apartment in Trump Tower, according to court documents obtained by USA Today.

Manafort pleaded guilty in September to one count of conspiracy against the United States and one count of conspiracy to obstruct justice by witness tampering as part of special counsel Robert Mueller's Russia investigation.

As part of his plea agreement with federal prosecutors, Manafort forfeited $22 million in New York real estate — including three Manhattan apartments, a Brooklyn townhouse and a home in the Hamptons, The New York Times reported at the time.

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Federal government is taking steps to seize Paul Manafort ' s Trump Tower condo . In a court filing Friday, prosecutors said the government The former Trump campaign manager was convicted on eight counts of bank fraud and tax fraud and made a deal with Robert Mueller to avoid a second trial.

The Department of Justice moved to take formal possession of the 43rd-floor Trump Tower condo owned by Paul Manafort , Trump ’ s former campaign manager. He pleaded guilty to tax fraud, conspiracy, money laundering and perjury as part of Special Counsel Robert Mueller’ s Russia

He also agreed to turn over three bank accounts and a life insurance policy.

Manafort's 1,509-square-foot condo at Trump's iconic building on Fifth Avenue is estimated at $2.5 million, according to online real estate website Zillow.

Occupancy rates at the president's luxury property have plunged over the last several years, according to a Bloombergreport from earlier this month.

Trump's namesake tower, built in 1983, has reportedly seen occupancy drop over from 99 percent to 83 percent since 2012.

Property records obtained by Bloomberg showed at least 13 condos sold in the tower since Trump's 2016 election, including eight transactions that resulted in inflation-adjusted losses for sellers.

In comparison, just 57 homes out of 24,871 third-party sales in Manhattan sold over the past two years at a loss, according to PropertyShark data obtained by Bloomberg.

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