So Trump the lying bully got PBO to get a long form birth certificate and Elizabeth Warren to get a DNA test, now he needs to pay up. This time Warren called Trump’s bluff. So far, PBO hasn’t pressed Trump on the $5 million he already owes charity.
In the past, Trump would have had the funds to pay this challenge go through his foundation, but after David Farenthold got to it, now Trump must actually write a check.
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/
It has a pretty thin paper trail, but govt. docs show the company's headquarters is 725 Fifth Avenue, NYC. 4/
- Well, it's not a bank. Public records in Delaware (where it's registered) don't list any other loans it's made.
-
- ...Which is Trump Tower. 5/
- In fact, Chicago Unit Acquisition is owned by @realDonaldTrump and managed (now) by Eric Trump. Which means Donald Trump owes more than $50 Million to...himself.
- Why?6/
- As far as I know, @realDonaldTrump has only talked about this loan once, to the @nytimes in 2016. He said it was a loan on his Chicago tower, which he bought back from the lenders.
- “I have the mortgage. That is all there is. Very simple. I am the bank.”7/
- But which loan is he talking about? We checked both of the publicly listed loans on the Chicago tower – a $640M loan from Deutsche Bank, and a $130M “mezzanine loan” from other lenders. And...8/
- ...And neither one appears to have been sold, to @realDonaldTrump or anyone. Both, in fact, appear to have been paid off and cancelled in 2012. 9/
- So...I know more about this debt than I used to. But I still don't understand it.
- If *you* know something about this loan, or about why @RealDonaldtrump would see an advantage in owing himself $ (as opposed to just paying off the loan)...I'm at Fahrenthold@washpost.com END/