Report: Russian bank whose CEO met secretly with Jared Kushner helped finance Trump's Toronto hotel

[riversedge]

Source: aol.com






May 17th 2017 2:20PM


A Russian state-owned bank under US sanctions, whose CEO met with President Donald Trump's son-in-law in December, helped financed the construction of the president's 65-story Trump International Hotel and Tower in Toronto, according to a new report.

The bank, Vnesheconombank (VEB), bought $850 million of stock in a Ukrainian steelmaker from billionaire Russian-Canadian developer Alexander Schnaider, who was constructing the hotel at the time, The Wall Street Journal reported on Wednesday.

Shnaider initially purchased the stock via his company, Midland Resources Holding, for about $70 million after the collapse of the Soviet Union, according to the Journal.

The money from the sale of that stock to VEB — which the Journal said went through while Russian President Vladimir Putin was chairman of VEB's supervisory board — was then used to help finance the construction of the Toronto hotel tower "at a key moment for the project."...................

Read more: https://www.aol.com/article/news/2017/05/17/report-russian-bank-whose-ceo-met-secretly-with-jared-kushner-h/22095774/

[burrowowl]

1. Anything suspicious here!?

[Warpy]

2. The hotel that such a white elephant that nobody wanted it?

It cost $500 million to build. One of the financiers bought it for $298 million, meaning some Russians,most notably a billionaire named Alex Schnaider, are likely not happy about taking this big a bath.

https://www.thestar.com/business/2017/03/31/torontos-trump-tower-sells-for-298m.html

Kushner seems to be an equivalent talent to his daddy in law, great at talking money out of people who should know better, not so great at reading the market he's building in.

[C Moon]

3. What's going on in Russia, that makes these GOP assholes loving it so much?

The GOP must be loving the way Putin is able to have a country with no middle-class, a powerful military, and is still able to be "re-elected." A GOP wet-dream.

[blue-wave]

4. Let's see...

Barry Goldwater, Dwight Eisenhower, Richard Nixon and Ronald Reagan must be just a few in a group of many who are rolling in their graves at the "new" repuke party. (And no, I'm not advocating the negative aspects of their reigns) But the current bunch are all about one thing: MONEY. It doesn't matter if you destroy a country, just fill your pockets!

Memo to all Americans: Wake Up! The Democratic Party is now and always has been, the party of patriotism.

[videohead5]

9. Barry Goldwater

President Reagan had just nominated Sandra Day O'Connor for the supreme court and it made Jerry Falwell really mad.he said all good Christians should get together and kick Sandra Day O'Connor off the supreme court.a reporter ask Barry Goldwater what he thought about what Jerry Falwell had said and Barry said I think all good Christians should get together and kick Jerry Falwell's ass.

[SunSeeker]

5. K & R for exposure.

[Achilleaze]

6. republicans & russian mob Vs. honesty & decency

republican "values" are right out of the freaking cesspool.

[Princess Turandot]

7. Just an FYI: That's a Trump-branded building, not a building that he actually built/owned himself...

He did get money from it, of course - I've read that these 'naming' agreements have a payment going to him of 1% to 4% of an apartment's initial selling price. (That's a one time fee; he gets no money from subsequent sales of a unit by its original.) He also provided hotel management services to the building originally, as an outsourced contractor.

The fact that he wasn't the owner, but was featured in sales materials and in the name etc. as a selling point for the units, is one of the factors in current lawsuits against the building by some of its purchasers. This was in the news a few months, when the Canadian Supreme Court ruled that they could sue him, even though he wasn't party to any of their agreements. (That's been tried in the US a few times w/o success, but maybe Canada will have better luck).

This is not to say that the banking arrangements had nothing funny going on i.e. it may well be that the Trumps' used their connections to suggest the financing. But his signature likely won't be on those loan documents in Toronto.

[muriel_volestrangler]

8. See also: Bank that Kushner met with paid Russian intelligence agent's legal tab

https://www.democraticunderground.com/10028868931

New: Kushner Omitted Meeting With Russians on Security Clearance Forms https://www.democraticunderground.com/10028902543

[George II]

10. When do we get around to draining the swamp?

[NewRedDawn]

12. Seems like the swamp is at flood stage.

[logosoco]

11. Where does he find the time for this now?

I thought Mr. Kushner was going to be the savior of this administration? I have yet to hear the guy talk or even make any type of statement about his ideas, etc.

I think the trump family world is very small.

[wiggs]

13. Come on, man. nt