Politics: Government moves to seize Manafort's condo in Trump Tower - PressFrom - US
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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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WASHINGTON -- The federal government is moving to take control of a Trump Tower condo belonging to former Trump campaign chairman Paul Manafort . Mueller is also moving to seize other New York properties of Manafort ' s as well as funds from different bank accounts.

Government plans to seize Manafort ’ s Hamptons home, Trump Tower condo in two weeks. Manafort is now cooperating with Mueller’s investigation in exchange for lesser chargers. He pleaded guilty to one charge of conspiracy and another of conspiracy to obstruct justice.

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 would take custody of the Mueller is also moving to seize three other New York properties of Manafort ' s as well as funds from three different bank accounts.

The U. S . government has formally moved to seize control of the Trump Tower apartment of Paul Manafort , a convicted felon and former Trump campaign chairman, according to court filings on Friday obtained by HuffPost. This is a developing story. Please check back for updates.

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.

Judge orders Paul Manafort to be transferred to New York City’s notorious Rikers Island.
Judge orders Paul Manafort to be transferred to New York City’s notorious Rikers Island

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