Debt-laden President Trump: His new Washington Hotel owes millions in unpaid debts and he may owe billions to Russians. (Getty Images).

Insiders acutely aware of President Donald Trump’s complicated financial arrangements say he is billions of dollars in debt, much of it to Russia, and lives on the edge of financial ruin.

Besides Russia, Trump also owes at least $2 billion to a partnership that includes The Bank of China.

“Mr. Trump is in bed with Communists and enemies of America,” says one accountant who has worked on Trump’s partnerships but won’t allow use of his name.  “Russia owns him.”

Trump, the only President in modern times to refuse to release his tax returns — although he promised to do so early in his campaign — and that continued refusal has led to increasing speculation that he is heavy in debt and owes much of it to Russia, a country he cozies up to in actions that worry both military leaders and intelligence officials.

The 45th President hid most of his debt in a 104-page financial disclosure form filed in his run for President, failing to list one debt alone of $2 billion to the Bank of China and other large amounts to Russia, interests in the Middle East and other nations.

“I am the king of debt,” Trump admitted to CNN.  “I love debt.”

That love of debt led to at least four of his business bankruptcies as well as defaults that forced him to sell off personal items and seek emergency financing from questionable interests after American banks declared him a poor credit risk.

To settle his defaults in the past, Trump sold yachts, planes and other symbols of luxury and a bankruptcy court ordered him to live on “an allowance.”

“His name is on the Trump Tower and he lives there but he doesn’t own it,” says one accountant.  “His creditors do.”

Trump campaigned on claims he was “the world’s greatest businessman” with the “best record of success” in history.

His boasts however, fail to mention is many business failures:  A mortgage company that closed, a luxury lifestyle magazine that went under with heavy unpaid debts, a debt-ridden winery, bankrupt casinos and hotels and “fire sales” of properties facing foreclosures.  Several of his “resort” properties are under water financially, including a highly-touted golf resort in Scotland that is facing foreclosure.

His highly-touted “university” shut down amid revelations that it was  just a pyramid scheme that drained the life and retirement savings of those who also maxed out their credit cards for “extra he failed to deliver.  Trump settled a myriad of civil suits against what investigators called “frauds” but the “university” remains focus of a criminal investigation by the Attorney General of New York.

Several sources tell Capitol Hill Blue privately the “audit” by the Internal Revenue Service that he has uses as an excuse to withhold release of his tax returns may have already had led to a criminal investigation.  The IRS won’t say and Trump refused to answer questions about the audit or his tax returns.

Trump’s companies face thousands of civil lawsuits from small businesses, construction companies and others who worked on his properties and did not get paid.  His new “Trump International” hotel in the Old Post Office on Pennsylvania Avenue in Washington failed to pay companies large and small and several have suits pending in civil courts in the District of Columbia.

Those who say Trump defrauded them claim he makes “lavish promises that are never kept.”

Asked one: “I wonder what he is promising Russia? Not even God knows what will happen when he breaks a promise to (Russian leader Vladimir) Putin.”

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Copyright © 2017 Capitol Hill Blue

 

5 COMMENTS

  1. • 1) Trump owes Blackstone/ Bayrock group $560 million dollars (one of his largest debtors and the primary reason he won’t reveal his tax returns)
    2) Blackstone is owned wholly by Russian billionaires, who owe their position to Putin and have made billions from their work with the Russian government.
    3) Other companies that have borrowed from Blackstone have claimed that owing money to them is like owing to the Russian mob and while you owe them, they own you for many favors.
    4) The Russian economy is badly faltering under the weight of its over-dependence on raw materials which as you know have plummeted in the last 2 years leaving the Russian economy scrambling to pay its debts.
    5) Russia has an impetus to influence our election to ensure the per barrel oil prices are above $65 ( they are currently hovering around $50)
    6) Russia can’t affordably get at 80% of its oil reserves and reduce its per barrel cost to compete with America at $45 or Saudi Arabia at $39. With Iranian sanctions being lifted Russia will find another inexpensive competitor increasing production and pushing Russia further down the list of suppliers.
    As for Iranian sanctions, the 6 countries lifting them allowing Iran to collect on the billions it is owed for pumping oil but not being paid for it. These billions Iran can only get if the Iranian nuclear deal is signed. Trump spoke of ending the deals which would cause oil sales sanctions to be reimposed, which would make Russian oil more competitive.
    7) Rex Tillerson (Trump’s pick for Secretary of State) is the head of ExxonMobil, which is in possession of patented technology that could help Putin extract 45% more oil at a significant cost savings to Russia, helping Putin put money in the Russian coffers to help reconstitute its military and finally afford to mass produce the new and improved systems that it had invented before the Russian economy had slowed so much.
    8) Putin cannot get access to these new cost saving technologies OR outside oil field development money, due to US sanctions on Russia, because of its involvement in Ukrainian civil war.
    9) Look for Trump to end sanctions on Russia and to back out of the Iranian nuclear deal, to help Russia rebuild its economy, strengthen Putin and make Tillerson and Trump even richer, thus allowing Trump to satisfy his creditors at Blackstone.
    10) With Trump’s fabricated hatred of NATO and the U.N., the Russian military reconstituted, the threat to the Baltic states is real. Russia retaking their access to the Baltic Sea from Lithuania, Latvia and Estonia and threatening the shipping of millions of cubic feet of natural gas to lower Europe from Scandinavia, allowing Russia to make a good case for its oil and gas being piped into eastern Europe.
    Sources: Time Magazine, NY Times, The Atlantic, The Guardian UK.

  2. One thing Russia isn’t (and never really was) is Communist.

    I also wonder, knowing his history of stiffing subcontractors, who’s going to bid on building that wall with the promise that “Mexico will pay!”. I don’t think I’d submit a bid for that job.

    J.

  3. I live in AC NJ where this swindler bankrupted everything he got near ( three Casinos) and many people he did business with went under in those bankruptcies. That he was able to sucker enough people to get elected last fall was no surprise to anyone that has been around this con man’s act and I have. He’s a master co man a swindler par excellence. He NEVER comes through though except for himself.

  4. And Trump supporters all believe that this is just fine……Of course, watching Fox “News,” they have no idea. Party before country.

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