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Wendy Siegelman Profile picture
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Mar 9 • 12 tweets • 7 min read
Trump refinanced Trump Tower in NYC in February with a $100 million loan from Axos Bank of San Diego, which launched in 2000 as Bank of Internet USA. CEO Gregory Garrabrants, has contributed $50K to Republicans & $9,600 to Trump, since 2012, by @Z_Everson
forbes.com/sites/zachever…
Here's February 2022 agreement for $100 million loan from Axos Bank for Trump Tower at 725 Fifth Ave NY, made to Trump Tower Commercial LLC signed by Eric Trump per @Z_Everson

Prior $100mil loan from Ladder Capital was scheduled to come due in September

a836-acris.nyc.gov/DS/DocumentSea…
Axos Bank which just provided $100 mil loan for Trump Tower was previously called Bank of the Internet (BOFI) - per @StacyJannis they have an interesting history

In 2021 plaintiffs won class certification in 7 year old securities fraud lawsuit w/BOFI

"Investors in BofI, now known as Axos Bank, asserted that confidential witnesses would testify that the company 'consistently overrode the concerns of internal auditors, altered reports, and falsely responded to regulatory subpoenas.'" HT @StacyJannis

lieffcabraser.com/2021/08/bank-o…
More on BofI, now Axos Bank, which provided $100mil loan to Trump Tower

Bank of Internet, Which Had Been Under Federal Investigation, Appears in Multiple Kushner Deals & had role in transaction involving Kushner Companies loan in Brooklyn HT @StacyJannis

propublica.org/article/bank-o…
2017 article by @RodBoydILM on BofI Federal Bank (now Axos Bank which made Feb $100 million loan to Trump Tower) on weak disclosure practices and large number of loans to foreign nationals including Russians, Ukrainians and Chinese nationals

ffj-online.org/2017/06/28/bof…
The Southern Investigative Reporting Foundation located 40 mortgages from BofI to Russian and Ukrainian nationals for New York City and Miami properties. 36 Chinese nationals were identified as BofI borrowers primarily for properties in Southern California
ffj-online.org/2017/06/28/bof…
One of the more interesting borrowers was Vadim Shulman a Ukrainian national, alleged billionaire who took out $12.5million 5-year adjustable rate loan in 2014 from BofI at 5.25% interest rate to purchase a Malibu house in for $25million HT @braisincapital
ffj-online.org/2017/06/28/bof…
Interesting item from @DerWouter on Trump Tower $100M loan, previously from Ladder Capital, securitized into a pool of loans by Wells Fargo & RBS/Scotland

2012 SEC filing notes TT had 98% occupancy w/ Trump org 30% of that - but 30% did not pay rent

Here's 2012 filing for Wells Fargo, Ladder Capital, Royal Bank of Scotland offering which included $100 million loan for Trump Tower

Pg 53 shows tenants, the row for The Trump Corporation (and affiliates) 30% of tenants shows base rent of $0 HT @DerWouter
sec.gov/Archives/edgar…
And because I can't resist an opportunity to post an old chart... this is outdated now, from 2017, shows Trump's prior 2 largest creditors Deutsche and Ladder Capital - with the $100 million Trump Tower now refinanced by Axos Bank (formerly BofI)

wsiegelman.medium.com/trump-creditor…

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More from @WendySiegelman

Wendy Siegelman Profile picture
Mar 9
How Western Firms Quietly Enabled Russian Oligarchs

Concord Management LLC in Tarrytown NY invested in US hedge funds & private equity firms, per sources most $ is from Roman Abramovich

@MattGoldstein26 @kenvogel @JesseDrucker @maureenmfarrell @mmcintire
nytimes.com/2022/03/09/bus…
Wall St bankers & hedge fund mgrs who interacted with Concord and founder Michael Matlin said it oversees from $4-$8 billion

It isn’t clear how much of that belongs to Abramovich whose fortune is estimated at $13billion

Abramovich hasn’t been sanctioned

nytimes.com/2022/03/09/bus…
In letter sent Wednesday to AG Merrick Garland Representative Steve Cohen, Democrat of Tennessee, wrote that he had “recently received information from credible sources in the financial industry” that Concord oversees billions of dollars for Abramovich

Read 6 tweets
Wendy Siegelman Profile picture
Mar 5
Mikhail Fridman owns £65Mil London mansion Athlone House

He was main owner of Athlone House Ltd (domestic personnel co) until March 2, now new owner is Nigina Zairova 'Executive Assistant'

Note there's similarly named N. Zairova 'Assistant' at LetterOne
…te.company-information.service.gov.uk/company/124467… ImageImage
Athlone House Ltd business: Activities of households as employers of domestic personnel

Financials list 4 employees and few assets - but change of ownership from Fridman to Zairova raises question of whether property ownership also changed

…te.company-information.service.gov.uk/company/124467… ImageImage
Mikhail Fridman bought and owned (as of Mar 2 story) Athlone House in north London, paying £65m for the property in 2016, according to the Land Registry

theguardian.com/world/2022/mar…
Read 8 tweets
Wendy Siegelman Profile picture
Mar 2
Ex-Goldman Banker Tim Leissner testified that Malaysian financier Jho Low said he met Jared Kushner and discussed shutting down US investigation of 1MDB scandal, w/global settlement & no criminal charges

(Leissner said he doesn’t know if Low was truthful)
bloomberg.com/news/articles/…
Republican fundraiser Elliott Broidy pleaded guilty in 2020 to illegally lobbying the admin on Low’s behalf. Broidy said Low paid him $6million and promised a $75mil success fee if the Justice Department dropped its investigation. Trump pardoned Broidy.

bloomberg.com/news/articles/…
Per Leissner, Low said he hired former NJ Governor Chris Christie, a Trump confidante at the time, to be his lawyer in settlement negotiations. Low claimed he promised Christie a $10 million success fee if the case was resolved without criminal charges

bloomberg.com/news/articles/…
Read 7 tweets
Wendy Siegelman Profile picture
Feb 28
Dmytro Firtash who has ties to Kremlin, Gazprom & reputed Russian mafia ties and hired Trump aligned lawyers Toensing & diGenova & paid Lev Parnas during hunt for dirt on Biden - asks to be allowed to enter Ukraine to protect country from Russian invasion
en.interfax.com.ua/news/general/8…
To add to irony of Firtash's request to protect Ukraine:

In 2021 Ukraine imposed sanctions on Firtash for selling titanium products that allegedly were used by Russian military enterprises

Firtash was indicted in US for alleged bribery in titanium deal

Read 15 tweets
Wendy Siegelman Profile picture
Feb 11
Update on Questionardo Limited - Ahmad Al Khatib (ex dir of Cambridge Analytica successor Emerdata) with director Chun Shun Johnson Ko (ex Emerdata director and Erik Prince partner)

Main shareholders are Duncan Chu(Chau), Ko, Al Khatib, Oakwood Media

…te.company-information.service.gov.uk/company/128239…
Questionardo Limited shareholders of 34,938 shares:

Duncan Chu - 12,000
Johnson Ko - 8,052
Ahmad Al Khatib - 7,368
Oakwood Media - 6,000
P Mihajlo - 1,265
A Umar - 253

…te.company-information.service.gov.uk/company/128239…
Not clear yet on background of Oakwood Media

Read 8 tweets
Wendy Siegelman Profile picture
Feb 10
News on Trump social media deal Digital World Acquisition - ARC Group exec Abraham Cinta offered $2mil to form DWAC thru Singapore fund & $ from Israeli blockchain entrepreneurs Stas Oskin & Sebastian Stupurac, by @DEER_ECHO_ @MJBerens1 HT @braisincapital

reuters.com/business/how-c…
Chart on Trump's Digital World Acquisition Corp deal with Patrick Orlando and ARC Group
wsiegelman.medium.com/network-chart-…
More from story on Trump DWAC deal

Besides the money ARC would invest with its Singapore fund, two investors from Israel, blockchain entrepreneurs Stas Oskin and Sebastian Stupurac, would put in an additional $350,000

Stupurac confirmed his participation
reuters.com/business/how-c…
Read 8 tweets

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