San Diego-based Axos Bank finalized the loan with the Trump Organization on Feb. 17, according to documents filed with the city Tuesday.
Last year, the Trump Organization was indicted in New York on charges it helped executives evade taxes. And for two years, the company has been the subject of civil and criminal investigations by New York Attorney General Letitia James and the Manhattan district attorney. The Trump Organization declined to disclose the interest rate on the new loan and other terms. Axos, citing customer privacy rules, would not comment.
During his presidency, Trump’s name was stripped off hotels and residential towers in several cities. His Scottish golf course lost millions, and condos in his apartment buildings have been selling at deep discounts. The city’s decision to kick Trump off the course has been tied up in court and now, several months after Trump was supposed to leave, he is still running it, his name spelled out on a hillside in giant paving stones seen from miles away. The Trump Organization says that it will go but that the city has to pay it $30 million first.
Axos previously made loans backed by at least two properties owned by the Kushner Cos., the family real estate firm once run by Trump son-in-law and White House adviser Jared Kushner. The bank also benefited from a policy change in the Trump administration allowing high interest loans.
It wouldn’t surprise me that he’ll figure out a way to get it written off by claiming chapter 11 on what ever he used as collateral.
Perhaps an investigation of this banks BoD is in order