Developer plans to buy 55 Public Square as Justice Department wants to seize it over money-laundering accusations
Updated Jan 06, 2021;
Posted Jan 06, 2021
View of the 55 Public Square building in downtown Cleveland, OH, Monday, August 13, 2018.The Plain Dealer
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CLEVELAND, Ohio A prominent developer who owns several downtown Cleveland buildings plans to buy 55 Public Square, even as the Justice Department seeks to seize it amid accusations that an organization controlled by a Ukrainian oligarch bought it with laundered money.
Doug Price of the Willoughby-based K&D Group confirmed that he still plans to purchase the 22-story office building, owned by Optima Ventures of Miami. Optima and K&D, which also owns Terminal Tower and The Halle Building, among others, entered a contract on Dec. 22 for K&D to buy the building for $17 million.