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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
May 14
US exposes attempted sanctions evasion scheme involving Oleg Deripaska's frozen shares in Austrian co Strabag worth $1.5 bil

Treasury sanctions Russian national Dmitrii Beloglazov, his 2 companies Iliadis & Titul and Deripaska company Rasperia Trading Ltd
home.treasury.gov/news/press-rel…
In 2023 Deripaska coordinated with Dmitrii Beloglazov owner of Russian financial firm Titul which created subsidiary Iliadis. Iliadis acquired Derpiaska's Rasperia Trading Ltd which holds frozen Strabag shares worth $1.5 bill, in scheme to evade sanctions.
home.treasury.gov/news/press-rel…
I've been following this story for a while - Austria's Raiffeisen Bank was planning to buy Oleg Deripaska's stake in Strabag and the US has pressured RBI to drop plans to buy the stake. Raiffeisen originally financed Deripaska's investment in Strabag.

Read 7 tweets
Wendy Siegelman Profile picture
May 1
Trial began Tues for Bruce Garelick - charged with enabling his boss Michael Shvartsman at Rocket One and others to make millions illegally on inside info that acquisition firm DWAC was taking Trump Media public

Shvartsman and his brother pleaded guilty
cnbc.com/2024/05/01/tru…
Image
Trial started for Bruce Garelick, former director of DWAC, accused of sharing non-public info on plans for DWAC to merge w/Trump Media

Garelick made about $50,000 from DWAC trades, Michael Schvartsman made $18 million, Gerald Shvartsman made $5 million

cnbc.com/2024/05/01/tru…
Image
WaPo reported on earlier probe of investors including Russian born FL businessman Anton Postolnikov who sold most of his stake in DWAC days after Trump/DWAC announcement sent stock soaring, per FBI search warrant he made $22 million (and was not charged)

Read 4 tweets
Wendy Siegelman Profile picture
Apr 29
Who invested in Trump Media?

An April SEC filing for Trump Media reveals new details on early investors in Trump’s company - including ex FL AG Pam Bondi who owns 100,000+ shares worth several million dollars and her brother advised on the deal. My latest
newstracs.com/april-sec-fili…
A new name in the Trump Media Apr S-1 Registration Statement is lawyer Michael Milkersen with 300,000+ shares (and several hundred thousand founder and ARC shares) making him one of the largest investors. It's not clear how he became involved in the deal.
newstracs.com/april-sec-fili…
A new name in the alternative financing group is 'Washington Muse Investments SPC' which has a Cayman Islands address and owns 4,166,666 shares and 1,388,888 warrants, making it one of the top owners - but there is almost no public info on this company.

newstracs.com/april-sec-fili…
Read 4 tweets
Wendy Siegelman Profile picture
Apr 25
As @MountainsStars notes two of the people indicted as AZ fake electors are closely tied to Charlie Kirk and Turning Point

Tyler Bowyer is Chief Operating Officer at Turning Point

Jake Hoffman had worked at TPUSA and runs 2 companies paid over $2.5 mil by TPUSA since 2020
Jake Hoffman AZ senator/fake elector founded Rally Forge & 1Ten LLC

TPUSA paid Rally Forge $531,198 (2020)
TP Action paid RF $102,704 (2020), $1,816,755 (2021)
TP Action paid 1Ten $128,000 (2022)

My piece on Charklie Kirk w/research by @MountainsStars
newstracs.com/charlie-kirks-…
AG Mayes announced indictments in ongoing investigation into AZ fake elector scheme

Kelli Ward, Tyler Bowyer, Nancy Cottle, Jacob Hoffman, Anthony Kern, James Lamon, Robert Montgomery, Samuel Moorhead, Lorraine Pellegrino, Gregory Safsten, Michael Ward

azag.gov/sites/default/…

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Read 5 tweets
Wendy Siegelman Profile picture
Apr 24
An April 9 filing listed Steve Bannon as a “Co-Conspirator” in a $1 billion fraud case

Prosecutors identified Bannon as part of a criminal conspiracy allegedly run by Chinese tycoon Guo Wengui

Bannon has not been charged in this case

by @dfriedman33

motherjones.com/politics/2024/…
Here's Apr 9 filing USA v Guo Wengui and Yanping Wang

"Distributions from the ACA Bank Account also demonstrate $10 million in transfers to William Je and his wife, and a $1 million transfer to a company associated with Steve Bannon, a co-conspirator."

s3.documentcloud.org/documents/2460…

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Here's my piece from 2023 when Guo Wengui was arrested for $1 billion fraud – highlights of his partnership with Stephen Bannon since 2017

newstracs.com/guo-wengui-arr…
Read 4 tweets
Wendy Siegelman Profile picture
Apr 18
Charlie Kirk's Turning Point nonprofits are growing quickly

At the age of 30 Kirk has spent 12 years expanding U.S. youth-led right-wing activism

Turning Point USA had $40 million in revenue in 2020 which doubled to $80 mil in 2022

🧵with highlights

newstracs.com/charlie-kirks-…
Charlie Kirk’s Turning Point website says it has 350 part and full-time staff, 800+ chapters on 3,500 US campuses where they run events, recruit activists and register voters

Kirk meanwhile hosts shows espousing conspiracy theories and far-right views

newstracs.com/charlie-kirks-…
Charlie Kirk’s Turning Point USA total assets grew from $7.3mil in 2020 to $26.8mil in 2022

There are 3 related nonprofits - Turning Point Endowment, Turning Point Action, Americas Turning Point Inc. and for profit TPUSA Merch LLC

newstracs.com/charlie-kirks-…
Read 6 tweets

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