Benzinga - by Bibhu Pattnaik, Benzinga Staff Writer.
The NYC Register’s office was duped into filing sham deeds that falsely implicated Donald Trump‘s daughter Ivanka Trump and Hillary Clinton in a $150 million Manhattan real estate transaction.
What Happened: The counterfeit documents were expunged after The New York Post flagged them, according to the newspaper. The bogus deeds alleged that Ivanka Trump, Clinton, and an individual named “Louis Reyes” had acquired air and subterranean rights to the prestigious University Club and the world’s highest duplex condo at Central Park Tower. The documents received approval from city clerks on May 16.
The deeds also peculiarly asserted that the “purchasers” were “relatives or former relatives” of a purported seller named “David Smith.” Despite the city probing approximately 3,500 fraudulent deeds in the past 10 years, the paperwork was approved without the obligatory notary signatures.
Adelaide Polsinelli, a real estate broker at Compass who first noticed the fraudulent filing, expressed her concern and told the newspaper, “It’s frightening to think real estate documents can be so easily manipulated that every city clerk involved overlooked such an obvious fake.”
Ryan Lavis, a representative for the city Department of Finance, verified that the deed was erroneously filed and was withdrawn following a review.
Why It Matters: This incident underscores the vulnerability of real estate transactions to fraudulent activities. It raises serious questions about the effectiveness of the city’s measures to prevent such scams, especially considering the high-profile names involved in this case.
The fact that such a glaringly fake deed could pass through the system undetected is a cause for concern for both the real estate industry and the city’s administration.
Now Read: Judge Calls Out Ivanka Trump In New York Civil Fraud Case, Says Her Memory Recall Was ‘Suspect’
This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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