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@MingGao26 @sharonvt75 Oh, looky here
Trump & Deutsche Bank
postandcourier.com/business/trump…
"Trump’s foray into the South Carolina commercial real estate market began w a company that counted Donald Trump Jr. among its primary backers.
Trump & Deutsche Bank
postandcourier.com/business/trump…
"Trump’s foray into the South Carolina commercial real estate market began w a company that counted Donald Trump Jr. among its primary backers.
@MingGao26 @sharonvt75 "It was called Titan Atlas Manufacturing, & it made prefabricated construction panels for builders of low-cost housing.
Titan paid $1.5 million in 2010 for a former Lockheed Martin aircraft parts plant in Stark Industrial Park, where it set up shop.
Titan paid $1.5 million in 2010 for a former Lockheed Martin aircraft parts plant in Stark Industrial Park, where it set up shop.
@MingGao26 @sharonvt75 But the Pace Street business didn’t last long. It shut down about two years later, leaving a trail of litigation, unpaid bills and irate investors in its wake.
@MingGao26 @sharonvt75 One of the company’s biggest creditors was Germany’s Deutsche Bank, which was seeking to recoup more than $3 million it had loaned Titan. That put Trump Jr. and his co-investors in a bind, as they had each personally guaranteed to repay the money.
postandcourier.com/business/trump…
postandcourier.com/business/trump…
@MingGao26 @sharonvt75 The future president intervened in 2014 to engineer a bailout. He set up a South Carolina firm called D B Pace Acquisition that negotiated a deal with Deutsche Bank, a longtime financier of Trump projects, to buy the soured loan for an undisclosed sum.
@MingGao26 @sharonvt75 The delinquent borrowers were suddenly off the hook, without recourse.
D B Pace eventually foreclosed on the property and took title to it about two years ago.
D B Pace eventually foreclosed on the property and took title to it about two years ago.
@MingGao26 @sharonvt75 Donald Trump Jr. Stumbled While Trying to make a Mark
washingtonpost.com/investigations…
washingtonpost.com/investigations…
@MingGao26 @sharonvt75 "Chemical containers at the Titan Atlas Manufacturing site in North Charleston, S.C. President Trump’s eldest son helped start the company in 2010. It failed two years later.
The New York Times
Feb. 7, 2017
The New York Times
Feb. 7, 2017
@MingGao26 @sharonvt75 South Carolina regulators on Tuesday rejected an effort by the Trump Organization to limit its environmental cleanup liabilities at an industrial site once owned by President Trump’s eldest son.
@MingGao26 @sharonvt75 Decision is a rebuke of the Trump Org & could result in millions of dollars in added costs for the company. It followed a refusal by the organization to provide regulators w required info about business & financial relationships between the president & his son Donald Trump Jr."
