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Thu May 16, 2019, 03:06 PM

Donald Trump's Latest Financial Disclosure Was Just Released [View all]

President Donald Trumpís latest personal financial disclosure was just released, showing that Trump, who already owed more money than any other president in history, borrowed millions more in 2018.

According to the disclosure, Trump borrowed between $5 million and $25 million from Professional Bank, a small Florida outfit that specializes in construction and real estate loans. He borrowed the money at 4.5 percent interest through a limited liability company called 1125 South Ocean LLC. The loan was used to finance the purchase of 1125 South Ocean Avenue, a mansion located next door to Trumpís Mar-a-Lago club and owned by the presidentís sister, Maryanne Trump Barry. Last year, Palm Beach-area newspapers reported that Trumpís sons, Donald Jr. and Eric, had purchased Barryís property for $18.5 million. But Trumpís financial disclosure indicates that in fact he controls the company behind the transaction. Though assets and liabilities are reported in ranges on financial disclosure forms, land records show that the value of Trumpís newest loan $11.2 million.

https://www.motherjones.com/politics/2019/05/donald-trumps-latest-financial-disclosure-was-just-released/

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