Donald Trump has hundreds of small holding companies. They put distance between the president and his various industries. One of those companies is called DJT Holdings, and it is in big trouble.
POTUS’s mother was an immigrant from Scotland. Trump appears to have an affinity for the country, and he has built several golf courses there. Unfortunately for him, by following the money trail, Maryland investigators ended up checking into his foreign golf resorts, specifically how did he finance them?
The investigators started with the president’s Washington, D.C. hotel. Attorney General for Maryland Brian Frosh believed that he could provide evidence to prove that these hotels are still funneling money to POTUS. The AG said they were looking at monies coming to Trump via his affiliation with Russia. Supposedly, the president’s two eldest sons were managing his businesses.
According to The Business Insider, Frosh said he was:
‘…seeking information proving that hotel revenues were flowing to the president through his affiliated entities. We are confident that at the end of discovery we will be able to prove our case that President Trump is violating the Constitution’s emoluments clauses, America’s first anti-corruption laws.’
t appears that Deutsche Bank financed the commander-in-chief’s purchases.
Trump has had an interesting relationship with Deutsche Bank. The president has had a bad habit of not paying back bank loans. After a while, the man now sitting in the Oval Office ran out of New York banks that would give him a loan.
The commander-in-chief was at the point when he turned to Deutsche Bank. Of course, Trump did not change. Not only did he renege on his millions of dollars loans he owed Deutsche, he sued the bank. Then, the bank sued him.
This does not appear to be a place that would be eager to loan Trump any more money. Yet, Deustche Bank financed a loan that went directly to purchase to one of those golf course resort properties, his Turnberry leisure complex.
Maryland prosecutors subpoenaed DJT Holdings. The were trying to find out whether Trump was breaking the U.S. Constitution’s emoluments clause, which forbades public officials receiving money or gifts, especially from foreign entities.
The co-founder of the opposition-research company and former MI6 member Glenn Simpson wrote the infamous dossier tying the president to the dark side of Russia. Simpson appeared before the House Intelligence Committee in 2017, and he testified that: Trump’s resorts in the United Kingdom:
‘…(were) concerning (and) enormous amounts of capital (were) flowing into these projects from unknown sources. (Golf properties) don’t, on their face, show Russian involvement, but what they do show is enormous amounts of capital flowing into these projects from unknown sources and — or at least on paper it says it’s from the Trump Organization, but it’s hundreds of millions of dollars. These golf courses are just, you know, they’re sinks. They don’t actually make any money.’
The documents are part of an ongoing investigation into whether Trump still profits from his businesses. It started with Trump International Washington, which was an old post office building until Trump turned it into a luxury hotel a mere block from the White House.
Chair of the House Intelligence Committee Representative Adam Schiff has been investigating Trump’s interactions with Russia. He has also been trying to discern whether Russia might have somehow funded DJT Holdings’ properties.
Featured image is a screenshot via YouTube.