McClatchy reports: Donald Trump’s long time business lawyer Michael Cohen may be best known for his aggressive campaign television defenses of the real estate mogul, his role in an abortive effort to build a Trump Tower in Moscow and allegations that he attended a meeting last summer with Russians in Europe.
But while serving as a top executive at the Trump Organization for a decade, Cohen himself was a sometime New York real estate wheeler dealer whose companies appear to have netted as much as $20 million in profit by flipping properties to mysterious buyers..
The facts surrounding one of Cohen’s ventures in particular raised red flags for several experts interviewed by McClatchy.
In 2014, a mysterious buyer using a limited liability company that hid the purchaser’s identity paid $10 million in cash for a small apartment building on New York’s lower east side that Cohen had purchased just three years before for $2 million. The handsome appreciation came despite the fact that the assessed value of the property, at 172 Rivington St., hardly budged in these years, hovering around the price Cohen paid for it. [Continue reading…]