'Follow the money': Senator probes Trump's $95 million Palm Beach mansion sale

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  • John Mccartney

    15 upvotes for this ...so sad..rachel maddow read his tax return he paid 300 million fed tax...you must of missed that

  • Sejal

    Now we know how Trump is paying off Russian officials.

  • concernedvoter

    just one of the many obvious Trump Russia Money Laundering Scams that helped Trump survive his over a dozen Bankruptcies.. and why Russia owns Trump..

  • Bobby

    if this were the Clintons that had bought & sold this property, just imagine the kind of crazy conspiracy theories we'd be hearing...

  • rightened

    From "New Republic" article, "Trump's Russian Laundromat" - "After Trump World Tower opened (in 1983), Sotheby's International Realty teamed up with a Russian real estate company to make a big sales push for the property..."

    From "Palm Beach Life" December 2007: "515 N. County Road in Palm Beach... renovated by Donald Trump and priced at $125 million... presented by Sotheby's International Realty... the Regency-style mansion has been reworked and updated by noted Palm Beach architect Gene Lawrence..." (More of the article is on Google--Trump Entertainment filed for Chapter 11 in 2008. Note the "Sotheby's International" connection.)

    From "Palm Beach Daily News" November 2016: "An ownership company associated with Russian billionaire Dmitry Rybolovlev — who bought the property from Trump eight years ago — sold the 2.35-acre tract with about 175 feet of beachfront via a deed recorded today by the Palm Beach County Clerk’s office." (There was no indication that he ever visited or had an assessment done on the property. The mansion was torn down in 2016)

    Here's where it gets interesting. The Rybolovev real estate deal in 2016 was brokered by Kochman and Ziska. Ronald S. Kochman had strong ties to KL Financial. KL Financial, as in, "FBI - Last of Hedge Fund Advisors Pleads Guilty..." in 2009. (It appears that Kochman was the pillar of trust for the investment community of Palm Beach.)

    It all swirls around the bowl.

  • RedSoxPatriotsCelticsBruinsFan

    cmon, I thought this was recent. This happened in 2008 during the crash. The rich made out like bandits getting loans from banks at very low rigged interest rates. The fed saved the world loaning money and slashing the rates to zero. Savers got screwed.

  • Nick Thommasson

    Mueller will look into this. Congress needs to just make sure they don't get in the way of Mueller. I trust a trained investigator much more than I trust the clown car of ridiculousness that is our Congress

  • Bill

    There's only one way to double your money on real estate in 4 years and "Making improvements" isn't it.

  • charlie jones

    I admire the Senator's spunk. When he finishes with this project, perhaps he can tell us what Hillary gave away for contributions to the Clinton family slush fund...oops! I meant their foundation.

  • Bill Paish

    Follow the money.

  • rightened

    Actually, on a bigger scale... this sale was just a few years before the Russian Mafia were renting out condos in Trump Tower. It begs the question, what other income properties did Trump handle / buy / sell from the mid-2000s until 2016? How many of them went through a similar process of renovation/re-selling at a high profit to those with Russia ties? Or, in the case of Trump Tower, how many of them were rentals to known Russian criminals, as was Unit 63A, so that he was making Russian money off those rentals at exorbitant prices?

    This, from the man who claims no Russian connections, but whose own son contradicted that by bragging about the Russian connections...

  • rightened

    Basic financial question:

    How does someone on the verge of Chapter 11 bankruptcy fund the necessary renovations to elevate a $40M mansion to a $95M sale... during a housing market crash?!?

    And shouldn't we be taking a closer look at where that money came from for the renovations, not to mention how Trump found a buyer for over double the estimated value of the property?

  • GayEGO

    We know tRump has had several deals with Russia, his words are fake news!

  • SPORTSFAN

    Location, location, location. Or in this case...fabrication, fabrication, fabrication.

  • Jack25

    Trump is so incompetent he can’t even launder Russian money well.

  • david fellows

    What Improvements?

  • TrumpLovesPelosi

    “The primary thing I did with Russia, I bought a house in Palm Beach at a bankruptcy… I bought it for about $40 million. I sold it for $100 million to a Russian,” Trump said. “And that was primarily it.”

    At the time, he attributed the mark-up to renovations he made on the property.
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    I am surprised that Trump didn't use the "adoptions" excuse for him getting more than double for a property in 4 years. And by the way, other similar properties were not going for anywhere near that at that point in time. The Russian overpaid. By a lot. Russians have a history of money laundering as well.

  • MAGreenA

    I am glad that there will finally be an investigation of this real estate deal with the Russian oligarch. It has taken awhile, since it was first brought up during the election. There was another shady hotel deal in New York during the same time they talked about (SoHo?).The money trails are very important after the Trump son said their family had alot of business dealings with Russia. I can imagine that Mueller is looking at these sorts of things too.

  • Zed52

    Russia? Never heard of him.

  • Heavy Rain is Coming

    Muellers list just got longer.

  • Pat Baxter

    Hooray for Sen. Wyden. It's about time someone got about vetting Trump in some regard. Trump refuses to release his tax records and one is inclined to believe it's because there's plenty of Trump wrongdoing to find in those tax records. "Trump University" clearly established that Trump is a con man of the worst kind. Let's expose Trump's wrongdoing in whatever ways we can.

  • thinkmore

    There's a lot more strange money than this circulating around Trump. Anything that can be checked is worth looking at.

  • rightened

    "I have no relation to Russia whatsoever... okay, I was a guest of Putin's once... okay, I may have done some deals in Panama that may have involved Russians... okay, I may have had a few business transactions with Russians, like renting out condos in Trump Tower in NYC and selling a house at over double what I paid... okay, so I had a FEW dealings, but they meant nothing to me... it was all about money..."

  • rightened

    On the verge of filing Chapter 11, Trump somehow make enough renovations to "up" the price of the mansion to $95M?

    Naw, nothing suspicious about THAT... except where did he get the money for the renovations, in this moment of financial crisis...?

  • Peter Warlock

    How Trump and Putin launder quid pro quo money:

    "A leading Senate Democrat has called on the Treasury Department to turn over banking and real estate records related to Donald Trump’s 2008 sale of a six-acre Palm Beach estate to a Russian billionaire – a real estate flip that yielded Trump $95 million after paying $41 million for the property just four years earlier."

  • Bud Simpson

    July of 2008 was in the middle of the worst housing collapse in decades. Houses and property were being foreclosed and housing costs were at an all time low. So, it makes sense that Trump was able to sell a piece of property, that he paid $41 million for just four years earlier, for over 90 million dollars.