Feds look into developer with Woodbury property ties
Federal agents on Thursday searched the offices of a Twin Cities developer who owns numerous commercial and residential properties in Woodbury.
A search warrant was executed at JLT Group's offices in St. Paul, FBI special agent Steve Warfield said. He could not confirm reports that JLT Group owner Jerry Trooien was the target of the investigation.
Warfield said evidence was seized at the offices, located at 10 River Park Plaza Suite 800, "in an alleged fraud investigation" launched in conjunction with the Internal Revenue Service.
Trooien, who has held stakes in numerous aircraft-related ventures and extensive real estate across the Twin Cities, last year filed for bankruptcy.
According to JLT's website, Trooien is the principal developer of 111 acres along Interstate 94 and 494 in Woodbury, as well as an additional 16 acres in a neighboring area in Woodbury. Trooien also is listed principal developer of Woodbury's 150-room Sheraton Hotel and restaurant, plus nearby Aperitif Restaurant.
He also owns two residential developments - a 50-lot parcel and a 32-lot parcel - in Woodbury, according to JLT's website.
Trooien was not immediately available for comment, a JLT employee said.