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Trump Has Never Explained a Mysterious $50 Million Loan. Is It Evidence of Tax Fraud?

A debt of over $50mil Trump claims he owes to one of his own companies Chicago Unit Acquisition LLC may be part of a tax scheme known as debt parking, by @russchoma
motherjones.com/politics/2019/…
@russchoma In March 2012 Trump finalized deal w/Fortress & partners (Steven Mnuchin’s Dune Capital, Steve Feinberg’s Cerberus Capital), Fortress agreed to accept 50 cents on the dollar, approx $48mil for outstanding debt just under $100mil (of original $130 mil loan)
motherjones.com/politics/2019/…
@russchoma An item I’d like to add to the story👆is that a 2008 WSJ article👇noted loan docs included a $50mil exit fee, so with interest total due to Fortress from Trump could be as high as $360 million - making Trump’s $48mil payment to Fortress even more unusual
wsj.com/articles/SB122…
@russchoma Fortress filed a notice that the Trump loan was terminated in 2012 and search of records in NY, IL and DE (where the company was incorporated) found no UCC records related to Chicago Unit Acquisition.

motherjones.com/politics/2019/…
@russchoma The Fortress loan was terminated in March 2012

Later that year in Oct 2012 a second Chicago Unit Acquisition LLC (a Foreign LLC) # 01718444 was incorporated w/business address at Trump’s 725 Fifth Ave
illinoiscorporates.com/corp/20886.html
@russchoma The article by @russchoma raises great questions on the existence of the loan and whether the debt was concocted as a ploy to evade income taxes

it also raises a question for me, of whether Chicago Unit Acquisition has a loan, from an undisclosed lender
motherjones.com/politics/2019/…
@russchoma An item to look into re: story investigated by
@russchoma about the mysterious loan from Chicago Unit Acquisition LLC - is similarities to Turnberry in Scotland where @MartynMcL reported Trump was owed £107m of interest free loans he provided to Turnberry
scotsman.com/news-2-15012/d…
@russchoma @MartynMcL And Trump similarly provided an interest free £40m+ loan to Scottish Trump International Golf Club Scotland ltd in Balmedie
@russchoma @MartynMcL As I noted in my 2018 story on UAE links to the Trump story - Arabian Business had reported that Trump bought Turnberry from Leisurecorp a unit of the Dubai government in 2014 for less than Leisurecorp had paid in 2008
arabianbusiness.com/trump-complete…
medium.com/@wsiegelman/fr…
@russchoma @MartynMcL An article by @annmarlowe summarized info from a 2014 Telegraph article reporting that UAE's Leisurecorp paid £52 million & spent £40mil more renovating Turnberry, then sold it to Trump for a “bargain price” of £35.7 million in 2014
fastcompany.com/90233994/how-a…
telegraph.co.uk/sport/golf/107…
@russchoma @MartynMcL @annmarlowe The bargain price Trump paid UAE's Leisurecorp for Turnberry reminds me of inverse 100% mark-up Trump had made on sale of FL estate to Dmitry Rybolovlev (who made up $ lost to Trump when he sold his Da Vinci to Saudi's MBS, who then swapped it w/the UAE)
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Wendy Siegelman
@WendySiegelman
There's a mystery $50mil debt related to Trump Int'l Hotel & Tower Chicago

I found SEC filings related to $130mil mezzanine loan on TIHT Chicago from before loan was paid off that may shed light on the loan (but may not tie to $50mil debt mystery) /thread
Both @russchoma @Fahrenthold have reported extensively on a mystery $50 million debt on Trump’s financial disclosure for Chicago Unit Acquisition LLC and in 2016
@susannecraig reported that Trump said the $ was a loan he purchased back from several banks
nytimes.com/2016/05/24/bus…
@russchoma @Fahrenthold @susannecraig A 2008 WSJ article described a $640 million senior construction loan from Deutsche Bank for Trump Int’l Hotel & Tower Chicago and $130 million mezzanine loan from group led by Fortress that had a steep $50 mil exit fee and could cost $360mil with interest
wsj.com/articles/SB122…
Read 14 tweets
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Wendy Siegelman
@WendySiegelman
Manhattan DA Cy Vance Jr’s criminal investigation zeros in on Trump Org CFO Allen Weisselberg

Per source SDNY asked DA to "stand-down" & a year later SDNY concluded investigation

Now clock is running out on 2 year window for some charges, by @peterelkind
propublica.org/article/prosec…
@peterelkind Per two sources, On October 30, a handful of lawyers and investigators from Vance’s office traveled to the federal minimum-security prison to meet for a third time with Michael Cohen - much of the discussion involved Weisselberg.
propublica.org/article/prosec…
@peterelkind This is not surprising, but still so ridiculous - Trump’s business turned over 3,376 pages of documents, court filings show - a filing by the DA asserted that “approximately two-thirds” were “non-substantive Google alerts” 🙄

propublica.org/article/prosec…
Read 4 tweets
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Wendy Siegelman
@WendySiegelman
Russia’s FSB, Konstantin Malofeev linked to $450million bitcoin disappearance from Wex, largest Russian-language crypto exchange which collapsed end of 2018. Wex was successor to BTC-e, shut down by FBI for laundering $4bil & used by DNC hackers Fancy Bear
themoscowtimes.com/2019/11/15/rus…
BBC investigation reports on Alexei Bilyuchenko co-founder of BTC-e with Alexander Vinnik (arrested July 2017 in Greece w/extradition requests pending from US, Russia, France)

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bbc.com/russian/featur…
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Per Bilyuchenko - former FSB officer Anton Nemkin asked him to transfer Wex's $450mil into "FSB of Russia" fund
bbc.com/russian/featur…
Read 3 tweets

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David Fahrenthold
@Fahrenthold
The biggest mystery in @realdonaldtrump's financial disclosures: he owes more than ***$50 million*** to an LLC that exists mostly on paper. No employees, no office, no assets of its own.
That mystery lender, Chicago Unit Acquisition LLC,
just filed its annual report. This is it.
@realDonaldTrump This one-page doc from the Illinois Sec. of State is the only annual public proof that this LLC even exists.
It shows -- as always -- that this huge creditor of @realdonaldtrump's is owned by Trump's own company.
@trump Org has not explained why or how.
@realDonaldTrump @Trump I'd still love to know what the heck is going on here.

If you'd like to read more, this @MotherJones story does a great job explaining what *might* be happening here. If we ever see @realdonaldtrump's tax returns, we might know for sure...

motherjones.com/politics/2019/…
Read 3 tweets
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Venture Capital
@kelly2277
🔥Federal agents raid office of Chicago Ald. Ed Burke, who Trump bribed for tax leniency on Trump International Hotel and Tower🔥 Will raid uncover secrets about Chicago Unit Acquisition LLC or more info on the Trump -Soros RICO ⁦@Fahrenthold⁩ ⁉️ wgntv.com/2018/11/29/fed…
💥BOOM💥 Ed Burke raid is going to open up a can of worms for Trump🤗
Read 3 tweets
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Venture Capital
@kelly2277
@Fahrenthold 🔥🔥@Fahrenthold 🔥🔥Chicago Unit Acquisition LLC AKA Trump International Hotel & Tower is identical in scope & partners as the RICO case about General Motors Bldg w Soros, Cerberus Capital Mgt AKA Backacre, Fortress AKA Mapely Holdings. The laundered money flowed to Chicago👇
@Fahrenthold 💥💣💥The money laundering and bid rigging scheme worked so well w the General Motors Bldg that they repeated it w Trump International Hotel and Tower in Chicago. This is pulled from the GM RICO Case: “The investors are virtually the SAME as the defendants in this action”‼️
@Fahrenthold 💥Of course, Deutsche Bank was involved in both the GM building and Trump International Hotel & Tower Chicago.
Read 15 tweets
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David Fahrenthold
@Fahrenthold
NEW: This story touches on one of the biggest mysteries in @realDonaldTrump's finances -- which only gets more mysterious, the more i dig into it.
The mystery is called "Chicago Unit Acquisition, LLC" 1/
Nobody outside Trump Org. had heard of Chicago Unit Acquisition LLC until @realDonaldTrump submitted his financial disclosures as a candidate. They showed he owed more than $50M to an entity with that name. 2/
That's a big loan, even for a real-estate developer like @realDonaldTrump. So what is this entity that the president owes more than $50M? 3/
Read 11 tweets
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Scott Stedman
@ScottMStedman
Trump’s Moscow Developer Owned by Bank of Cyprus Lawyer With Documented Money Laundering Ties medium.com/@ScottMStedman…
1- The Chairman of the development company, IC Expert, that was set to build Trump Tower Moscow was misleading when he stated on the Letter of Intent that he owned 100% of the company. He does not. Hope you’ll read and share this thread.
2- Colinsen Trading Limited, a Cyprus based LLC that owns 60% of IC Expert is owned, through a series of shell companies called Ionics, by Christodoulos Vassiliades — a high-profile Cyprus lawyer with links to the governments of Cyprus and Russia, and to the Bank of Cyprus.
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