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Trump sells $15.8 million condo to Chinese businessperson who arranges financial deals between countries

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In one of the first major business deals concluded since Donald Trump became president, a Chinese businesswoman just closed on the purchase of $15.8 million condo owned by Trump’s real estate business.

According to Mother Jones, businesswoman and consultant Xiao Yan Chen bought a four-bedroom, six-bathroom condo in Trump’s Park Avenue high-rise on February 21. The property was purchased from Trump Park Avenue LLC, where Trump was on the board of directors before resigning just before being sworn in as president.

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While Trump is not on the board, he is still a principal of the LLC.

Chen is the founder and managing director of a business consulting firm called Global Alliance Associates which sells itself as a go-between, connecting wealthy business people with Chinese interests to develop new business ventures in her home country.

The company’s website states they specialize in, “Establishing a network of credible and proprietary relationships, known by the Chinese as ‘ghanxi,’ is the single most important aspect of initiating and sustaining a successful business venture in China.”

Mother Jones reports that, as of last week, the luxury condo Chen purchased was listed on real estate website Zillow for $14 million, or about $2 million less than the business consultant paid.

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Enjoy this piece?

… then let us make a small request. Like you, we here at Raw Story believe in the power of progressive journalism — and we’re investing in investigative reporting as other publications give it the ax. Raw Story readers power David Cay Johnston’s DCReport, which we've expanded to keep watch in Washington. We’ve exposed billionaire tax evasion and uncovered White House efforts to poison our water. We’ve revealed financial scams that prey on veterans, and efforts to harm workers exploited by abusive bosses. We’ve launched a weekly podcast, “We’ve Got Issues,” focused on issues, not tweets. Unlike other news sites, we’ve decided to make our original content free. But we need your support to do what we do.

Raw Story is independent. You won’t find mainstream media bias here. We’re not part of a conglomerate, or a project of venture capital bros. From unflinching coverage of racism, to revealing efforts to erode our rights, Raw Story will continue to expose hypocrisy and harm. Unhinged from corporate overlords, we fight to ensure no one is forgotten.

We need your support to keep producing quality journalism and deepen our investigative reporting. Every reader contribution, whatever the amount, makes a tremendous difference. Invest with us in the future. Make a one-time contribution to Raw Story Investigates, or click here to become a subscriber. Thank you.



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‘Megalomaniacal, paranoid, and psychopathic’: Economist sounds the alarm on Trump’s ‘bottomless malevolence’

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Economist Jeffrey Sachs, a professor of Health Policy and Management at Columbia University, has written a frightening warning about President Donald Trump's "paranoid and psychopathic" leadership style, and he says it could have disastrous consequences for the world if he wins a second term.

In an essay published at progressive news website Common Dreams, Sachs argues that it would be a grave mistake to treat Trump like a cynical politician, when in reality he is an impulsive and vindictive narcissist who acts on his angry whims.

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Trump baselessly accuses Democratic lawmaker of ‘violence’?? in insane tweet

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President Donald Trump, in a strangely giddy and unhinged tweet on Tuesday baselessly accused Democratic U.S. Congresswoman Rashida Tlaib of “violence.”

“Sorry, I don’t buy Rep. Tlaib’s tears. I have watched her violence, craziness and, most importantly, WORDS, for far too long,” Trump tweeted. “Now tears? She hates Israel and all Jewish people. She is an anti-Semite. She and her 3 friends are the new face of the Democrat Party. Live with it!”

It’s unclear what the president was referring to when he accused the Michigan Congresswoman of violence, but his other remarks appear to be directed at a press conference she held Monday.

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Trump’s Labor Department wants to ‘weaponize’ right-wing discrimination and bigotry

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Just in case you wanted to believe that the Trump administration isn’t on a campaign to trample rights for Americans, here comes the Labor Department to shove a grapefruit in your face.

Labor officials have made public a new rule—no Congress, needed, thank you—to allow companies contracting with the federal government who are “religion-exercising organizations” to ignore federal laws protecting the rights of gays, transsexuals, and who knows who else in hiring or workplace practices. Religious employers and companies with “closely held” religious ties now will be shielded from claims of bias in court or other law enforcement actions, says the rule.

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