Quantcast
Connect with us

Tax expert David Cay Johnston warns Russian oligarchs may not be the only foreigners co-signing Trump’s loans

Published

on

UPDATE: Lawrence O’Donnell has issued a statement on the story:

ADVERTISEMENT

On Tuesday evening, MSNBC anchor Lawrence O’Donnell broke a bombshell report that Deutsche Bank has loan applications from Donald Trump that were co-signed by Russian oligarchs.

“The source close to Deutsche Bank says that the Trump tax returns reveal that the president pays little to no income tax in some years,” he said. “And the source says that Deutsche Bank is in possession of loan documents that show Donald Trump has obtained loans with co-signers and that he would not have been able to obtain those loans without co-signers.”

“The source close to Deutsche Bank says that the co-signers of Donald Trump’s Deutsche Bank loans are Russian billionaires close to Vladimir Putin,” O’Donnell reported.

If confirmed, it could make impeachment “absolutely inevitable.”

ADVERTISEMENT

For analysis, O’Donnell interviewed Pulitzer Prize-winning investigative reporter and tax expert David Cay Johnston of DC Report.

“If Deutsche Bank has Donald Trump’s tax returns, isn’t the only purpose for a bank to have tax returns is for loans?” O’Donnell asked. “Is there — I can’t think of any other reason why the bank would have his tax returns.”

“No, the bank gets your tax returns or a transcript of your information. If you apply for a mortgage, you sign a document allowing your bank to check with the IRS to see if the income you’ve reported to them is the income that you’re reporting to the bank,” Johnston replied.

ADVERTISEMENT

“Now, of course, Donald has a long history that I’ve documented showing two different sets of documents to different people that don’t match up, and one of the interesting elements of this is they apparently have drafts as well as signed, filed tax returns. In examining the difference between those could be revealing about Donald’s behavior,” he explained. “Remember, a tax return is basically the starting point for an investigation, it’s not the end.”

ADVERTISEMENT

“And, David, you have studied Donald Trump’s wealth, Donald Trump’s earnings over time. You’re one of the first people to puncture the myth of Donald Trump as a billionaire. We heard in court the lawyers for the House of Representatives who are seeking this information, and they say they’re seeking it in a Russian money-laundering investigation. That’s why they say they’re seeking it,” O’Donnell reported. “If those loan documents show co-signers, let’s just go to that, your understanding of Donald Trump’s finances by the time he’s trying to get loans from Deutsche Bank after every other bank has turned him down. Would it make sense that he needs co-signers at that point?”

“Oh, absolutely,” Johnston replied.

ADVERTISEMENT

“And Donald I’ve argued on your show and others for several years now that Deutsche Bank in making these loans had to have someone in the background that was guaranteeing these loans. It would be surprising if they’re actually co-signers. That would be absolutely astonishing and I would think mandate his removal from office,” he continued.

“David, knowing what you know about Donald Trump’s finances as you’ve studied them, when Donald Trump — if he came to the point where he had to look around for backers for his loans, co-signers for his loans, is Russia where he would end up looking?” O’Donnell asked.

“Well, it would be the best place for him to go and it fits with the family’s own public statements — that they’ve tried to walk back since — about getting lots of assets from Russia,” Johnston replied. “But, you know, Donald may well have other backers. The next places to look would be the Saudis, the Emiratis and perhaps some people in Turkey, given Michael Flynn, his National Security Adviser, having been on the payroll illegally of Turkish interests when he was in the White House.”

Watch:

ADVERTISEMENT


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

Trump thinks he’s still the star of a reality TV show as coronavirus death toll continues to mount: op-ed

Published

on

This Sunday, President Trump fired off a series of tweets where he bragged about the "ratings hit" of his coronavirus briefings --  a series of tweets that one columnist described as an example of "complete amorality" as doctors, nurses, and other public servants put their lives on the line battling the spiraling pandemic. Writing for The Week this Monday, Joel Mathis contends that as the country reels from being turned upside down, Trump is "looking into a mirror, asking it to assure him that he is the fairest of them all."

Continue Reading

Breaking Banner

Donald Trumps needs a coronavirus scapegoat — and right now it’s China

Published

on

"If we are at war, who is the enemy?" asks Fred Hiatt, editorial page editor for The Washington Post in a smart piece that examines the question of who constitutes a target for a self-declared "wartime president."

While it is obvious that the enemy, in this case, is a tiny, sticky, invisible microbe that stubbornly gloms onto surfaces or leaps through the air to weaponize subway cars or shared gym equipment or a touch to the face.

Continue Reading
 

Breaking Banner

Some Trump supporters ‘delight’ in defying pandemic protocols to stick it to liberals: report

Published

on

A new report from The Atlantic's McKay Coppins reveals that some conservative Trump supporters are intentionally defying recommended social distancing protocols as a way to stick it to their political foes.

In his article, Coppins interviews Georgia resident Geoff Frost, who says that older conservatives who play at his local country club have made a habit of blowing off recommendations against shaking hands and sharing golf carts during the worst public health crisis the United States has faced in decades.

Continue Reading
 
 
You need honest news coverage. Help us deliver it. Join Raw Story Investigates for $1. Go ad-free.
close-image