Agency That Detected Suspicious Activity in Trump Financial Accounts Makes Another Big Finding
(AP Photo/Matt Rourke)
Former President Donald Trump recently managed to settle a substantial bond of over $450 million, which was required for him to appeal a lost case regarding the Trump Organization’s asset inflation practices, as reported by Forbes on Friday, July 12.
Following the hefty bond imposed after his loss in the New York fraud trial, Trump sought assistance from his supporters and requested the court to reduce the amount, enabling him to file the appeal.
According to Forbes, Trump managed to clear the bond with the aid of some billionaire friends, a dubious Grand Cayman account, and his Truth Social stock. This financial maneuver not only allowed him to proceed with his appeal but also left him with enough funds to pay off a $12 million loan tied to his Trump Plaza property.
“Forbes notes that this unreported move does not signify complete stability at Trump Plaza. The property has experienced tenant changes in recent years,” the report states. “After American Apparel declared bankruptcy, the Trump Organization replaced it with a nut shop, and a GNC store was converted into an eyeglasses store.”
The report also highlights some self-dealing actions that supported the business slightly, with Trump’s campaign directing nearly $240,000 to Trump Plaza for ‘rent’ between 2015 and 2019, according to Federal Election Commission reports.
This is not the first time suspicious financial activity has been discovered in Trump campaign’s accounts, with there being previous reports of funds being secretly diverted to personal endeavors. The Federal Election Commission in April discovered huge amounts of money being sent to Trump’s private businesses, despite being campaign donations.
It reported that Trump’s joint fundraising committee wrote three checks in February and one in March to his Mar-a-Lago club in Palm Beach, Florida, totaling $411,287.
Another one was written in March to Trump National Doral Miami for $62,337, with campaign finance experts saying it raises ethical concerns when a candidate is generating personal revenue off running for office.
Trump has also in the past been reported to spend another substantial percentage of donations on legal fees, even as he hopes to dislodge President Joe Biden from the White House in November.
