This is low, even for Trump. On the day that Paul Manafort stepped down from the Trump campaign amid his Russian ties, a Trump-linked business loaned Manafort $13 million.
“Papers were recorded that same day creating a shell company controlled by Mr. Manafort that soon received $13 million in loans from two businesses with ties to Mr. Trump, including one that partners with a Ukrainian-born billionaire and another led by a Trump economic adviser. They were among $20 million in loans secured by properties belonging to Mr. Manafort and his wife.”
“The purpose of the loans is unstated in public records, although at least some of them appear to be part of an effort by Mr. Manafort to stave off a personal financial crisis stemming from failed investments with his son-in-law.”
“One of Mr. Manafort’s recent loans, previously unreported, was for $3.5 million in September from the private lending unit of Spruce Capital, a small New York investment firm that has a Ukrainian connection through the billionaire Alexander Rovt. An American citizen who made his fortune in the privatization of the fertilizer industry in post-Soviet Ukraine and has long done business in that part of the world, Mr. Rovt is a financial backer of Spruce, whose co-founder Joshua Crane has been a developer of Trump hotel projects.”
Stay tuned to Restore Progress for more sourced, never fake updates to this story as it develops.