Trump bought company shares, hyped a takeover, then sold quietly when price rose: Report

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President Donald Trump allegedly used hype about a potential takeover to lift the price of stocks he recently purchased until investors worked out what he was up to.

During his business career, President Donald Trump pretended to be a corporate raider, using debt to buy shares in a company while suggesting he might soon become a majority owner to boost its value before he sold the holdings quietly to pocket the gains, it is claimed.

During that period, Trump’s debt-laden businesses, including casinos and hotels, struggled to survive. Several ventures collapsed. The report comes as Congress battles with Trump to obtain his tax returns from the past few years. Trump is the first president since Richard Nixon to not release his tax returns publicly, breaking with a post-Watergate convention.

The issue may end up in the courts. Ways and Means Chairman Richard Neal, a Democrat from Massachusetts, said in a statement he will consult with the committee’s counsel and “determine the appropriate response.” “This case involves congressional subpoenas that have no legitimate or lawful purpose,” Trump’s suit, filed in Manhattan’s federal court, alleges.

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That’s...that’s insider trading.

Insider trading?

Sadly the guy still had to borrow and launder Russian money to survive. I'm sure poison would be in his and his families future if he wasn't doing the Russians bidding today.

Trump:

Smart businessman. That’s how Buffet made his millions too

So what?

Insider trading .....

pump and dump....just another con

Through insider trading.

OVER 30 YEARS AGO! Anything from this decade? THIS IS WHY YOU SUCK AT NEWS.

Sounds like a smart move.

Stop posting these DISGUSTING images.

he is so crooked that when he dies they will have to screw him into the ground

This isn’t surprising. He’s a con after all.

Please. No more close-up photos.

smart no?

This was decades ago.

Pump and Dump is a common game for grifters.

Omg, he committed a act of common sense. O my. V By low, sale high. That is how its done

We would have expected nothing Less from him...

fake news

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Source: CNN - 🏆 4. / 95 Read more »