Deadbeat Trump owes Chinese government owned bank huge sums, Massive conflict of Interest

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Daily Beast: President Trump’s re-election campaign recently attacked Joe Biden for being too close to China, insinuating there was some kind of murky financial link between Beijing and the former VP’s son Hunter.

What the campaign hasn’t mentioned is that Trump himself reportedly owes tens of millions of dollars in debt to China—and it will have to be paid back in the middle of what could be Trump’s second term. Politico reports the debt stems from 2012, when Trump’s real-estate partner refinanced New York City’s 1290 Avenue of the Americas skyscraper for almost $1 billion.

The debt reportedly includes $211 million from the state-owned Bank of China. Trump owns a 30 percent stake in the property, alongside main investor Vornado Realty Trust. Vornado’s financial disclosures reportedly show it, and Trump, are still indebted from the 2012 deal. Rep. Gerry Connolly (D-VA), a member of the House Oversight Committee, said: “[Trump] is highly conflicted with respect to China.”

Read it at Politico

https://www.thedailybeast.com/trump-owes-tens-of-millions-of-dollars-to-state-owned-bank-of-china-from-real-estate-deal-says-report?ref=home

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1 COMMENT

  1. It would be enlightening to learn about Mitch McConnell’s interests in the Bank of China. Through his wife and her family I have read there is a strong $$ connection. I guess conflicts of interests only apply to those “under the law”.

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