Congress to investigate Trump’s Florida property sale, Deutsche Bank loans

The new Democratic House majority plans to look into Trump’s $95M sale of a Palm Beach mansion to a Russian billionaire in 2008

National /
Jan.January 09, 2019 06:15 PM

From left: U.S. Rep. Adam Schiff, Mar-a-Lago Club, and Donald Trump (Credit: Facebook and Getty Images)

The new Democratic majority in the U.S. House plans to investigate loans and real estate transactions that could tie President Donald Trump’s real estate empire to the Russian government.

The House Intelligence Committee will look into Trump’s $95 million sale of a Palm Beach mansion to Russian billionaire Dmitry Rybolovlev in 2008, four years after he bought the property for $41 million, according to the New York Times. Democrats on the committee have suggested the sale could have been part of a money-laundering scheme.

The committee will also investigate hundreds of millions of dollars in loans extended to the Trump Organization by Deutsche Bank, which has been investigated in connection with international money laundering.

Committee Chairman Adam Schiff told the Times that his staff will likely begin making formal records requests later this month, potentially issuing subpoenas to get the information. Among the witnesses Schiff is expected to call is Michael Cohen, the Trump lawyer sent to prison for lying to Congress about dealings with Russia.

Additionally, the House Ways and Means Committee is expected next month to ask the Treasury Department for records of Trump’s tax returns. Committee Chairman Richard Neal expects to make the request after he holds hearings on the returns timed alongside anti-corruption legislation to be unveiled by House Democrats.

On Tuesday, federal prosecutors unsealed obstruction charges against Natalie Veselnitskaya, the Russian lawyer who met with Donald Trump Jr. during the 2016 presidential campaign. [New York Times] — Alex Nitkin


Related Articles

arrow_forward_ios
Make Greenland Great Again? Trump wants to buy Arctic territory
Make Greenland Great Again? Trump wants to buy Arctic territory
Make Greenland Great Again? Trump wants to buy Arctic territory
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Hamptons’ priciest summer rental to host MAGA extravaganza next month
(iStock, Illustration by Kevin Cifuentes for The Real Deal)
Some 40 million US homes at risk from extreme 2022 weather
Some 40 million US homes at risk from extreme 2022 weather
Hana Ranch in Maui. (Sotheby's International)
Mammoth Maui cattle ranch hits market for $75M
Mammoth Maui cattle ranch hits market for $75M
One of the pools at the Brooklyn Tower. (TheBrooklynTower.com)
Life Time Group to manage 120,000 square feet of amenities at Brooklyn’s +1,000-foot tower
Life Time Group to manage 120,000 square feet of amenities at Brooklyn’s +1,000-foot tower
The U.S. housing market sets new record for home sales and prices in July 2020. (iStock)
Moody’s chief economist says housing correction — but not crash — is on the way
Moody’s chief economist says housing correction — but not crash — is on the way
Gov. Kathy Hochul (Photo by Sasha Maslov)
At REBNY gala, Hochul pledges to “support” real estate
At REBNY gala, Hochul pledges to “support” real estate
Brokerages take different approaches to social media ads
To automate or customize? Brokerages split on social media ad formulas
To automate or customize? Brokerages split on social media ad formulas
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...