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Wendy Siegelman Profile picture
@WendySiegelman
Sep 27, 2020 • 14 tweets • 8 min read • Read on X
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Trump's financial disclosure includes 2 loans for Trump Int’l Hotel & Tower (TIHT) Chicago

1) a springing loan made by Chicago Unit Acquisition LLC in 2012 for over $50 mil

2) Deutsche(DBTCA) loan of $25-50mil from 2012

Thread w/some info & questions on DBTCA Chicago loans Image
In 2014 DBTCA refinanced $69 mil for TIHT Chicago

@clliday found that on Nov 9, 2016 (after the election) there was a partial release of $53,730,977.65 (which presumably left balance of approx $15mil)

I'm adding some updates on prior thread below

I created the table below of the loans and major filings I found on Cook County website for TIHT Chicago starting in 2004 from Fortress & DBTCA (springing loan is not available)

ccrecorder.org/recordings/go_…

The bottom yellow sections show 2 DBTCA loans that raise a few questions Image
Trump disclosure shows TIHT Chicago DBTCA loan incurred 2012, matures 2024

Of 2 DBTCA loans I found that are not fully released (paid off) one is from 2012, the other matures 2024 - it appears they may be linked & listed in one line in Trump’s disclosure

assets.documentcloud.org/documents/7011… Image
In Nov 2012 DBTCA provided four loans, 2 for $45mil and 2 for $53,730,977 - in May 2013 three of the loans were released

The 4th loan for $45 million (yellow) is the only one from 2012 that does not have a related doc showing a ‘release’ of the mortgage

ccrecorder.org/recordings/rec… Image
Several articles, like 2019 WaPo story below, described a June 2014 “$69 million loan to refinance an existing Trump hotel in Chicago”

But I have not seen reporting on the @clliday finding of Nov 9, 2016 partial release of $53,730,977.65 on the 2014 loan

washingtonpost.com/politics/trump…
Link to June 2, 2014 $69 million mortgage

ccrecorder.org/recordings/rec…

Link to Nov 9, 2016 partial release of $53,730,977.65 that references the mortgage dated June 2, 2014, and mentions remainder of “Mortgage not specifically released” HT @clliday

ccrecorder.org/recordings/rec… ImageImage
If $69 mil June 2014 refinanced mortgage is only outstanding loan from DBTCA and $53,730,977.65 was released Nov 9, 2016 - presumably balance would be approx $15 million

But Trump’s disclosure lists $25-50 mil DBTCA TIHT Chicago loan (3rd row from bottom)
assets.documentcloud.org/documents/7011… Image
The 2014 $69 mil mortgage 'Agreement' section describes "Amended and Restated Term Loan Agreement" vs the 2012 mortgage 'Agreement' section which describes "Term Loan Agreement (Hotel)"

However, I could not find anything in the 2014 agreement that mentions the 2012 mortgage Image
It's possible that Trump's OGE financial disclosure merges two separate outstanding loans into one line, and accurately reflects the balance of $25-$50 million

However, it does not appear that the 2014 $69 mil loan is the only one outstanding if $53.7 mil was partially released
I wanted to share out info above as a reference for anyone looking at TIHT DBTCA loans

A separate item I saw while reviewing filings is the original $640 million construction loan Trump received Feb 7, 2005 was from Deutsche Bank Trust Company Americas

ccrecorder.org/recordings/rec… Image
A quick note on mysterious 2012 springing loan from Chicago Unit Acquisition LLC (aka Trump) to TIHT Chicago which @Fahrenthold @russchoma & others have covered extensively

In Scotland intercompany loans are interest free so it's odd springing loan interest is a high prime +5% ImageImage
A quick clarification - the 2005 $640 mil loan lists DBTCA as "agent for lenders"
2017 chart of Trump loans from Deutsche Bank and Ladder Capital Finance
medium.com/@wsiegelman/tr…

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More from @WendySiegelman

Wendy Siegelman Profile picture
Mar 24
NEW: Russian-American businessman Anton Postolnikov loaned $8M to Trump Media in 2021-2022. He also sent $10.8M to a firm named Eleven Ventures LLC. New reporting shows a firm with that name is linked to Eric and Don Jr.'s new business partners, my latest:
newstracs.com/news-on-russia…
Russian-American financier loaned $8M to Trump Media in 2021-2022 and sent $10.8M to firm that may link to Don Jr & Eric Trump

The MSM is behind on this story - to support this work donations are appreciated on my site or find me on Patreon & Substack

newstracs.com/news-on-russia…
Last year The Guardian reported Russian-American businessman Anton Postolnikov, nephew of an ally of Russian President Putin, provided $8 million in loans to Trump’s social media company in late 2021 and early 2022 and $10.8M to Eleven Ventures LLC
newstracs.com/news-on-russia…
Read 7 tweets
Wendy Siegelman Profile picture
Feb 18
The US-Russia meeting about a Ukraine peace plan not only excluded Ukraine, a main focus is restoring US/Russia relations.

Kremlin spokesman Peskov said talks would be focused on “restoring the entire range of U.S.-Russian relations" as well as Ukraine.

apnews.com/article/russia…
At mtg: US Sect of State Rubio, nat'l security adviser Mike Waltz, special envoy Steve Witkoff, Russian Foreign Minister Sergey Lavrov, foreign affairs adviser Yuri Ushakov, Saudi Foreign Minister Faisal bin Farhan, nat'l security adviser Musaed al Alban
apnews.com/article/russia…
It is so on brand that the Trump administration's first meeting with Russia about a Ukraine peace plan not only excluded Ukraine, it did not include any European officials and did include two officials from Saudi Arabia who hosted the meeting.

apnews.com/article/russia…
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Wendy Siegelman Profile picture
Dec 23, 2024
Rumors have been swirling that Elon Musk may donate $100 million to Nigel Farage’s right-wing Reform UK party - in a small scoop, I report Musk has just incorporated X. AI London Ltd, showing he is 'reaching across the pond' on multiple fronts, my latest:
newstracs.com/elon-musk-may-…
Last week Musk met with Nigel Farage and Reform’s party treasurer Nick Candy at Trump’s Mar-a-Lago

Filings on UK Companies House show that this month Musk also incorporated X . AI London Ltd

xAI has raised nearly $12 billion and is valued at $50 billion
newstracs.com/elon-musk-may-…
Earlier this year I reported the first $6bil funding round for xAI included $400 million from Saudi Prince Alwaleed bin Talal al Saud and Kingdom Holding (per June 2024 financial statement). That amount has likely increased with the latest financing round.
newstracs.com/elon-musk-may-…
Read 5 tweets
Wendy Siegelman Profile picture
Dec 14, 2024
SEC charged Cantor Fitzgerald, led by Trump’s Commerce pick Howard Lutnick, with breaking securities laws re: disclosures by blank-check companies before they raised money from the public. Cantor Fitzgerald agreed to settle and pay $6.75mil civil penalty.
cnbc.com/2024/12/12/sec…
Here's SEC filing re: Cantor Fitzgerald - concerning materially false and misleading statements made by two special purpose acquisition companies (SPACs) controlled by Cantor Fitzgerald - re: CFAC II merger w/View, Inc. and CFAC V merger w/Satellogic Inc.
sec.gov/files/litigati…
Cantor’s settlement echoes $18mil settlement Digital World Acquisition Corp (DWAC) agreed to pay SEC in July 2023 after charges of fraud for failing to disclose to investors DWAC had merger discussions with Trump’s then-private company Trump Media
cnbc.com/2024/12/12/sec…
Read 4 tweets
Wendy Siegelman Profile picture
Dec 7, 2024
Ex-Cambridge Analytica CEO Alexander Nix beats £16M ($20.4mil) claim over business collapse and convinced judge he is owed $12mil

London judge rejects claims by Cambridge Analytica companies Emerdata & Dynamo Recoveries (led by Rebekah Mercer) against Nix
law360.com/articles/22703…
Link below to 115pg Approved judgement on 2 cases between Dynamo Recoveries Ltd, Emerdata Ltd v Alexander Nix, and between Nix v Emerdata

Claims against Nix were dismissed and Nix's claim for $12 million of outstanding debts from Emerdata has succeeded
maitlandchambers.com/images/uploads…
A central part of the case against Alexander Nix made by Emerdata & Dynamo, led by Rebekah Mercer, was that Nix allegedly breached his duty by pitching prospective customer (an undercover Channel 4 reporter) use of entrapment, honeytraps, bribery to discredit political opponents Image shows a section of the judgement on page 24, with subheader 'Alleged Breach of Duty arising out of Mr Nix’s comments at the Meeting' and examples of Nix's comments (click link in prior post to access full pdf)
Read 4 tweets
Wendy Siegelman Profile picture
Nov 20, 2024
Saudi Arabia: Nearly Trillion-Dollar Public Investment Fund (PIF) controlled by Crown Prince Mohammed bin Salman is Linked to Abuses

A new @hrw report details PIF whitewashing and links to human rights violations such as murder of Jamal Khashoggi

hrw.org/news/2024/11/2…
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Link to full report from @hrw - which notes PIF $2 billion investment in Kushner's Affinity Partners

hrw.org/report/2024/11…
@hrw Here's my 2022 chart showing Saudi Arabian funding Saudi Arabia funding of Donald Trump and Jared Kushner – the Public Investment Fund (PIF) and LIV Golf

newstracs.com/saudi-arabia-f…
Read 6 tweets

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