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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsScottish lawmakers want to know where Trump got all that cash for his Turnberry golf resort
The Biggest Trump Financial Mystery? Where He Came Up With the Cash for His Scottish Resorts.Donald Trump dumped $400 million into his clubs in Aberdeen and Turnberry. Now, lawmakers in Edinburgh want to investigate him for money laundering.
the self-proclaimed king of debt typically takes out large loans to finance the ventures he does bankroll. In this case, Trumps company proceeded with the development on its own. And it says it paid for everything in cash.
Such was also the case for Turnberry, the historic golf resort, an hour south of Glasgow, that Trump purchased in 2014 for $60 million. His large expenditures in Scotland were notable because they came during a rocky financial stretch for Trump. The year before purchasing the Aberdeenshire estate, he was ousted as CEO of his thrice-bankrupted casino business; in 2008, he defaulted on a large Deutsche Bank loan tied to a development in Chicago.
Like other Trump wagers, his Scottish gamble has so far not worked out. Both resorts are bleeding millions annually. Meanwhile, he and his company have spent years viciously skirmishing with various locals and government agencies that resisted Trumps plans to build luxury housing on the fringes of the resorts, which the Trump Organization seems to view as vital to profitability.
If business was lackluster before, its dismal now that the coronavirus pandemic has all but halted the Scottish golf season, at least as far as international travelers are concerned. To make matters worse, as Trumps hospitality empire grapples with the fallout of COVID-19, it also faces a series of maturing debts, loans amounting to nearly a half-billion dollars, which need to be paid down or refinanced over the next four years.
Recently, a newand perhaps biggerthreat to Trump has emerged in Scotland. Scottish lawmakers are pushing to peer into Trumps finances using an anti-money-laundering statute typically employed against kleptocrats, oligarchs, and crime kingpins. Their question: Where did the hundreds of millions Trump poured into his Scottish courses actually come from?
https://www.motherjones.com/politics/2020/08/the-biggest-trump-financial-mystery-where-he-came-up-with-the-cash-for-his-scottish-resorts/
louis-t
(23,199 posts)SergeStorms
(18,882 posts)that Eric "Gums" Trump was telling anyone who asked that, We dont rely on American banks. We have all the funding we need out of Russia. They all bragged about the same thing with selling Russians their condos in New York. They're all up to their receding hairlines in dirty Russian money.
42bambi
(1,753 posts)triron
(21,914 posts)Illumination
(2,458 posts)tanyev
(42,356 posts)Wounded Bear
(58,436 posts)Cha
(295,899 posts)USA.
Hello Cha
Very possible. Imagine how much taxpayer $ him, his mob boys, family, elite, etc. have!
soothsayer
(38,601 posts)MOBBED UP AF - A RETROSPECTIVE
https://www.sutori.com/story/timeline-you-might-be-interested-in--pTTyLH39r7FsRtF51JZi4BVt#.XIAjFasxveV.twitter
klook
(12,134 posts)smirkymonkey
(63,221 posts)?itemid=17310955
triron
(21,914 posts)Illumination
(2,458 posts)Illumination
(2,458 posts)Spelling error! Meant: You're so clever! That would not be me in this case...
dmr
(28,321 posts)Eyeball_Kid
(7,410 posts)Theyre not likely to give up on this quest very easily. OTOH, Id venture a guess that they already know the answer to their probe.
TomSlick
(11,032 posts)[link:|
Nemo me impune lacessit.
certainot
(9,090 posts)TomSlick
(11,032 posts)Alba gu bràth!
certainot
(9,090 posts)they were starting to take over the tall grass areas the bear and moose and elk like. when i pull them it has to be leather gloves but mostly have to chop every year. after a few years they're declining. some folks make gin out of them and others say they cure cancer but i'm trying to start a rumor they are freakin great to smoke...
according to ma and the genes i'm 1/6 or so from that part of the isles
Response to Eyeball_Kid (Reply #18)
TomSlick This message was self-deleted by its author.
chriscan64
(1,789 posts)Maybe a clan of McConnells, no relation.
SleeplessinSoCal
(8,992 posts)His father Norman was a Scottish physician. Now a journalist living and working in Australia, he has become the default Coronavirus expert.
Scotland. Land of the Super Swans!
#DumpTrumpdumps
klook
(12,134 posts)AND the home country of Andrew Cotter of Olive & Mabel fame.
canetoad
(17,088 posts)Am familiar with Dr Norman Swan, but didn't put two and two together until an hour ago.
This doco is being released on 18th August I believe.
Youve Been Trumped Too: Documentary that Trump doesnt want you to see to be released worldwide
Trump has tried to block the film from being seen for the past four years
A damning documentary about Donald Trump that the US president doesnt want you to see is getting released worldwide.
Having been held back by legal threats from the Trump Organisation for the past four years, Youve Been Trumped Too has been picked up for release, and will arrive less than three months before the 2020 US election.
The documentary explores the deeply troubling confrontation between Trump and 96-year-old Scottish widow Molly Forbes half a decade after its discovered that the presidents workers shut off her familys water supply while constructing a luxury golf resort near Aberdeen.
These events were first documented in 2011 film Youve Been Trumped.
https://www.independent.co.uk/arts-entertainment/films/news/trump-documentary-youve-been-trumped-too-release-date-trailer-golf-course-a9645371.html
gordianot
(15,226 posts)No one will ever convince me it was not known Trump was a major crook.
Cirque du So-What
(25,811 posts)Aussie105
(5,211 posts)America had laws like that . . .
"peer into Trumps finances using an anti-money-laundering statute typically employed against kleptocrats, oligarchs, and crime kingpins."
Well, I guess America does. But a law that is not enacted and followed through, might as well not exist.
But Trump only buys stuff to make himself look Bigly Competent as a businessman.
Where the money comes from, or if the assets are profitable and the loans serviceable legally, don't matter to him.
cstanleytech
(26,080 posts)aggiesal
(8,863 posts)But, Russia is a very educated assumption.
Let's hope we find out.
bucolic_frolic
(42,656 posts)Billionaires don't have to become President, they spend too much time managing their billions. Billionaires are not climbers. They have it already and behave as such.
ancianita
(35,812 posts)I imagine it's a bit late, but if they have legal recourse, good luck with it.
cp
(6,536 posts)Thank you!
northoftheborder
(7,566 posts)PatrickforO
(14,514 posts)Trump is like a big turd floating in a fountain. It corrupts the whole thing.
warmfeet
(3,321 posts)Well! I am shocked I tell you. Orange asshole involved in money laundering? Hard to believe.
x ?
Taraman
(371 posts)Makes no sense to me.
triron
(21,914 posts)live love laugh
(12,995 posts)Lonestarblue
(9,874 posts)If found guilty, he could never go to his Turnberry golf resort because he could be arrested and jailed. Oh, what a lovely thoughtand no pardons possible. Maybe its time for Trump to defect to Russia.
triron
(21,914 posts)Yo_Mama_Been_Loggin
(107,063 posts)triron
(21,914 posts)Smackdown2019
(1,169 posts)It would be nice if a swift action happens in Scotland and all assets be frozen. A hopeful quick trial will be ensued, tying the brats to the crimes. Extradition to Scotland should be honored. Of course reality is of today, tomorrow is just a dream.
Please let it be January 21 2021 already!
triron
(21,914 posts)triron
(21,914 posts)triron
(21,914 posts)muriel_volestrangler
(101,146 posts)Not that I'm trying to stir up controversy on DU or anything ...