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Lexow Financial Group Celebrates 30 Years In Edwardsville

2 years 6 months ago
EDWARDSVILLE - Lexow Financial Group recently marked 30 years of helping people in the Edwardsville community reach their financial goals with a ribbon-cutting ceremony. Larry Lexow, who owns the company and two others, appreciates the community’s support as he looks to help the next generation of entrepreneurs. Lexow Financial Group is a financial services company that works with individuals, businesses, and families looking to develop financial plans or reach financial independence, Lexow said. “Today, we’re celebrating the 30th anniversary of the founding of our company,” Lexow said at the event. “We have some longevity in terms of what we’re trying to do and help families reach their greatest goal in reaching financial independence.” Lexow Financial isn’t his only company with “longevity”: there’s also Lexow Properties, a company of 25 years that houses the office building for Lexow Financial and 20 other

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2 Richmond Heights shops named top places for cheese

2 years 6 months ago
St. Louis Magazine has named some top places to buy cheese, and two well-known Richmond Heights specialty shops were included. The Shops are: Parker’s Table, 7118 Oakland Avenue: “…everything you want a cheese shop to be: well-appointed with interesting, always-rotating selections; stocked with plenty of charcuterie and accouterments to round out your cheeseboard…” Starrs, 1135 […]
Doug Miner

Today Is Mister Gary Day in St. Louis and We Are Here for It

2 years 6 months ago
St. Louis is often a divided town — Black vs. white, north vs. south, Democrat vs. progressive. Yet there's one man who can unite us all, and that is Mister Gary. St. Louis' self-proclaimed "king of hospitality," Gary Boyd is best known for his starring role on the public access TV show Them Yo People.
Sarah Fenske

Ruling Confirms Trump Used Fraud to Hype Property Values

2 years 6 months ago

ProPublica is a nonprofit newsroom that investigates abuses of power. Sign up to receive our biggest stories as soon as they’re published.

After months in which indictments in four successive criminal cases against Donald Trump raised the stunning, if distant, prospect that a former U.S. president could be put behind bars, it was the seemingly less momentous civil case in New York that this week generated the most tangible consequences so far: A dramatic fraud ruling that, if it survives appeal, could strip Trump of a chunk of the business empire that not only made his fortune but provided him with his very identity.

New York State Supreme Court Justice Arthur Engoron, having previously made a preliminary finding that Trump, his sons and some Trump Organization executives “had a propensity to engage in persistent fraud by submitting false and misleading Statements of Financial Condition,” granted a partial summary judgment in favor of the state of New York. “Even with a preliminary injunction in place,” his lacerating opinion noted, “and with an independent monitor overseeing their compliance, defendants have continued to disseminate false and misleading information while conducting business.”

Engoron canceled certificates for Trump entities controlling some of the former president’s properties, which they need to operate legally in New York. Trump could also be required to give up a portion of profits linked to the properties, depending on the outcome of a civil trial that is scheduled to start next week. An appeals court on Thursday said the trial can proceed without delay.

The seeds of the state’s case date back to 2019. In February of that year, former Trump lawyer Michael Cohen claimed in a congressional hearing that Trump had manipulated the values of his assets. “It was my experience that Mr. Trump inflated his total assets when it served his purposes, such as trying to be listed amongst the wealthiest people in Forbes,” Cohen testified, “and deflated his assets to reduce his real estate taxes.”

On Oct. 16, 2019, ProPublica published a story that revealed a series of “stark” inconsistencies between what the Trump Organization had reported to property tax authorities about the financial health of his landmark skyscraper at 40 Wall St. and what the company told lenders. The discrepancies made the building appear more profitable to the lenders, and less so to city tax officials. A real estate and finance professor told ProPublica at the time that the discrepancies were “versions of fraud.” Former New Jersey Attorney General Anne Milgram said, “Certainly, if I were sitting in a prosecutor’s office, I would want to ask a lot more questions.”

On Dec. 7, 2019, according to Engoron’s ruling, New York Attorney General Letitia James subpoenaed the Trump Organization. Three years later, the state sued, claiming that Trump, his company and his associates grossly misstated the value of some of his properties on statements of financial condition shared with lenders and insurers. They included 40 Wall Street, Trump Tower, Trump Park Avenue, his Seven Springs Estate in Westchester, Mar-a-Lago and property near his Scottish golf course in Aberdeen.

In this week’s ruling, Engoron called James’ evidence “conclusive.” Between 2014 and 2021, he wrote, Trump and others overvalued his assets by $812 million to $2.2 billion.

In a social media post, Trump called the accusation that he committed fraud “ridiculous and untrue” and called Engoron “DERANGED.” James is a Democrat, and Trump has maintained her investigation is politically motivated. He has denied wrongdoing.

At 40 Wall Street, Engoron’s decision said that in 2015, Trump Organization statements of financial condition overstated the property’s value by nearly $200 million. Though the company had received an appraisal in 2015 saying the building was worth $540 million, which James contended itself might have been an inflated amount, Trump statements of financial condition put the value at $735.4 million that same year.

In a November 2019 story, ProPublica also found discrepancies in the amount of commercial space the Trump Organization claimed was occupied in Trump Tower — differences that made it appear in statements to a lender that the building was financially healthier than it seemed in documents provided to tax authorities.

Engoron’s decision said Trump also submitted statements of financial condition that described the roughly 11,000-square-foot triplex apartment where he has lived in Trump Tower as nearly three times the size it is, the judge said. “A discrepancy of this order of magnitude, by a real estate developer sizing up his own living space of decades, can only be considered fraud,” he wrote.

In response to the ruling, an attorney for Trump, Christopher Kise, said in a statement emailed Wednesday that the decision was “outrageous” and “completely disconnected from the facts and governing law.” He said that the judge disregarded the views of those involved in the loan transactions, who he said testified that there was no fraud and that the transactions were highly profitable. He said the decision “seeks to nationalize one of the most successful corporate empires in the United States.” Trump’s legal team has said it will appeal the ruling.

Through a spokesperson, James said after the ruling that “we look forward to presenting the rest of our case at trial.”

Andrea Bernstein contributed reporting.

by Heather Vogell

New cafe to open on Saturday

2 years 6 months ago
Looking Meadow Cafe is planning a soft opening on Saturday morning, Sept. 29. The cafe will be in in the former Stone Spiral space, at the corner of Sutton Boulevard and Lyndover Place. Owner Jamie Herman said the hours tomorrow will be the “usual hours” of 7am to 3pm.The vegan bakery and cafe has been […]
Doug Miner

Duck Pluckers Ball Raises Almost $175,000 - Another Ambulance For AMH Fleet On The Way

2 years 6 months ago
ALTON - Success is an annual occurrence for Alton Memorial Health Services Foundation’s Duck Pluckers, Deer Skinners, and Fish Hookers Ball. The 14 th edition held on Sept. 16 raised close to $175,000. Funds will go toward the purchase of another Alton Memorial Hospital ambulance equipped with $125,000 worth of life-saving equipment. “The support we receive at this event from our community each year has been spectacular,” said AMH President Dave Braasch. “This year was no exception. This unwavering support allows us to keep our hospital-based ambulance fleet equipped with the latest technology and road-ready. I’d like to shout out a big ‘Thank You’ to the people who sponsored the event, worked at the event, and came and donated at the event. Your contributions in maintaining and enhancing Emergency Medical Services in our region are commendable.” AMH is the largest hospital-based ambulance service in the area, covering nearly 400

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Consumer spending up slightly in August

2 years 6 months ago
If it's PCE inflation day, it must also be PCE spending day. So how much did consumers spend last month? Spending was up 0.6% from the previous month on an annualized basis. It was up 2.3% from the previous year. So spending continues to increase. Not by much, though.
Kevin Drum

The Forest Comes Alive In The Nature Institute's Enchanted Forest

2 years 6 months ago
GODFREY - Join The Nature Institute for a magical evening of Halloween fun! Enchanted Forest will take place on October 20th from 6 – 9 p.m. This non-spooky fall activity is perfect for families with young children. You can enjoy the activities at your own pace then turn in your passport for a bag of treats. This family-friendly event will include a self-guided hike, yard games, a cozy fire, and educational activities. Children will receive a passport to be stamped by all of the nocturnal animal characters that they meet along the trail. Every child will receive a bag of goodies in exchange for their completed passport! The entrance fee for this family fun event is $5 for everyone over the age of 2. This event is perfect for families looking for a fun night of strolling through the forest and learning about animals. Children and adults are encouraged to wear their Halloween costumes for the evening. Activities will be spread out along the paved Frog Trail, the skeet range,

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Duckworth Pushes For Aviation Safety At Aero Club Luncheon

2 years 6 months ago
WASHINGTON DC - Today, U.S. Senator Tammy Duckworth (D-IL)—member of the U.S. Senate Committee on Commerce, Science and Transportation (CST) and Chair of the CST Subcommittee on Aviation Safety, Operations and Innovation—joined the Aero Club Luncheon fireside chat with key leaders in the aviation industry where she underscored the ways we should improve aviation safety, expand accessibility for passengers with disabilities and support our aviation workforce in the Senate FAA Reauthorization Act amid our aviation safety crisis. Photos from today’s fireside chat are available here . “As a pilot and Senator, it was great to be at today’s Aero Club Luncheon to talk about all the ways I’m working to strengthen aviation safety for all passengers—especially as our aviation workforce is stretched razor thin and our entire aviation system continues to experience alarming near-misses where catastrophic loss of life was barely averted,” said

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