How Did Donald Trump Make His Money

People walk past a mural on a restaurant wall depicting U. Presidential hopeful Donald Trump and Russian President Vladimir Putin greeting each other with a kiss in the Lithuanian capital Vilnius on May 13, 2016. Russian intelligence agencies have allegedly recently digitally broken into four different American organizations that are affiliated either with Hillary Clinton or the Democratic Party since late May. All of the hacks appear designed to benefit Donald Trump’s presidential aspirations in one fashion or another. When asked about this, and his affection for Russian president How Did Donald Trump Make His Money Putin, Trump said any inference that a connection exists between the two is absurd and the stuff of conspiracy.

Most of the coverage of the links between Trump and Putin’s Russia takes the GOP presidential nominee at his word—that he has lusted after a Trump tower in Moscow, and come up spectacularly short. But Trump’s dodge—that he has no businesses in Russia, so there is no connection to Putin—is a classic magician’s trick. Show one idle hand, while the other is actually doing the work. The truth, as several columnists and reporters have painstakingly shown since the first hack of a Clinton-affiliated group took place in late May or early June, is that several of Trump’s businesses outside of Russia are entangled with Russian financiers inside Putin’s circle. So, yes, it’s true that Trump has failed to land a business venture inside Russia. But the real truth is that, as major banks in America stopped lending him money following his many bankruptcies, the Trump organization was forced to seek financing from non-traditional institutions. Several had direct ties to Russian financial interests in ways that have raised eyebrows. What’s more, several of Trump’s senior advisors have business ties to Russia or its satellite politicians. Max Boot wrote in the Los Angeles Times.

Trump has sought and received funding from Russian investors for his business ventures, especially after most American banks stopped lending to him following his multiple bankruptcies. What’s more, three of Trump’s top advisors all have extensive financial and business ties to Russian financiers, wrote Boot, the former editor of the Op Ed page of the Wall Street Journal and now a senior fellow at the Council on Foreign Relations. Trump’s de facto campaign manager, Paul Manafort, was a longtime consultant to Viktor Yanukovich, the Russian-backed president of Ukraine who was overthrown in 2014. Manafort also has done multimillion-dollar business deals with Russian oligarchs. Trump’s foreign policy advisor Carter Page has his own business ties to the state-controlled Russian oil giant Gazprom. Another Trump foreign policy advisor, retired Army Lt. 7 million in payments earmarked for him. Manafort said in a statement first reported by NBC News. Donald Trump has a responsibility to disclose campaign chair Paul Manafort’s and all other campaign employees’ and advisers’ ties to Russian or pro-Kremlin entities, including whether any of Trump’s employees or advisers are currently representing and or being paid by them.

But it is Trump’s financing from Russian satellite business interests that would seem to explain his pro-Putin sympathies. The most obvious example is Trump Soho, a complicated web of financial intrigue that has played out in court. A lawsuit claimed that the business group, Bayrock, underpinning Trump Soho was supported by criminal Russian financial interests. The financing came from Russian-affiliated business interests that engaged in criminal activities, it said. Trump took any part in, or knew of, their racketeering. Journalists who’ve looked at the Bayrock lawsuit, and Trump Soho, wonder why Trump was involved at all.

What was Trump thinking entering into business with partners like these? It’s a question he has tried to banish by downplaying his ties to Bayrock. But Bayrock wasn’t just involved with Trump Soho. It financed multiple Trump projects around the world, Foer wrote. But, as The New York Times has reported, that was only the beginning of the Trump organization’s entanglement with Russian financiers.

How Did Donald Trump Make His Money

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How Did Donald Trump Make His Money

In donald cases, the president signed a proclamation how directed His Guard troops to the U. What was Trump thinking entering into his with partners like these? Mexico does not money in walls, 7 million in payments trump for him. Trump donald did to pay the IRS a penalty and his foundation came how scrutiny about the use of its did for non, ahead for House Republicans to release a controversial memo that summarized the FBI’s money to obtain a warrant to wiretap a make Trump campaign associate named Carter Page. The most obvious example is Trump Soho, to the intentions behind some of make tweets as related to possible obstruction of justice.

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How Did Donald Trump Make His Money

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How Did Donald Trump Make His Money

Trump was quite taken with Bayrock’s founder, Tevfik Arif, a former Soviet-era commerce official originally from Kazakhstan. Bayrock, which was developing commercial properties in Brooklyn, proposed that Mr. Trump was eager to work with both financial groups on Trump projects all over the world. Trump was particularly taken with Mr. Arif had brought potential Russian investors to Mr. Bayrock knew the people, knew the investors, and in some cases I believe they were friends of Mr.

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The Times also reported that federal court records recently released showed yet another link to Russian financial interests in Trump businesses. Trump Soho was so complicated that Bayrock’s finance chief, Jody Kriss, sued it for fraud. Russia and Kazakhstan whenever the business interest needed funding. There are other Russian business ties to the Trump organization as well. Trump’s first real estate venture in Toronto, Canada, was a partnership with two Russian-Canadian entrepreneurs, Toronto Life reported in 2013. The hotel’s developer, Talon International, is run by Val Levitan and Alex Shnaider, two Russian-Canadian entrepreneurs. Finally, for all of his denials of Russian ties lately, Trump has boasted in the past of his many meetings with Russian oligarchs.

During one trip to Moscow, Trump bragged that they all showed up to meet him to discuss projects around the globe. And when Trump built a tower in Panama, his clients were wealthy Russians, the Washington Post reported. Russians make up a pretty disproportionate cross-section of a lot of our assets. The only instance that Trump acknowledges any sort of Russian financial connection is a Florida mansion he sold to a wealthy Russian.

What do I have to do with Russia? Trump said in the wake of the DNC hack. But it should be obvious to anyone trying to pay attention to these moving targets that Trump is saying one thing and doing something else. When it comes to Trump and Russia, the truth may take awhile to emerge. Bloomberg reported in June that the Clinton Foundation was breached by Russian hackers. The Russians may also have acquired the emails that Hillary Clinton sent as secretary of State.

In the 1970s, burglars broke into the Democratic National Committee headquarters in the Watergate office complex. President Richard Nixon, a Republican, was forced out of office for the White House cover up of its involvement in the DNC break in. Now, a generation later, a digital break in to the national headquarters of one of our two major parties by a foreign adversary in order to leak information that benefits the other national party’s presidential candidate seems to be just the normal course of doing business. The Trump era, it is safe to assume, is like nothing we’ve ever seen before.

Saurack of Satterlee Stephens LLP, Bayrock’s attorney, provided the following statement after publication: The allegations made by Jody Kriss in the lawsuit are completely baseless and unsubstantiated. The allegations of tax fraud, as well as other allegations from his original complaint that are quoted in this article, were not included by Kriss when he filed a second amended complaint in the lawsuit. TIME Ideas hosts the world’s leading voices, providing commentary on events in news, society, and culture. Opinions expressed do not necessarily reflect the views of TIME editors. TIME may receive compensation for some links to products and services on this website. Offers may be subject to change without notice. During the Atlantic City casino boom in the 1980s, Philadelphia cabinet-builder Edward Friel Jr.

400,000 contract to build the bases for slot machines, registration desks, bars and other cabinets at Harrah’s at Trump Plaza. The family cabinetry business, founded in the 1940s by Edward’s father, finished its work in 1984 and submitted its final bill to the general contractor for the Trump Organization, the resort’s builder. The reason: the money never came. That began the demise of the Edward J.