Politics FILE - Former President Donald Trump sits in the courtroom before the start of closing arguments in his civil business fraud trial at New York Supreme Court, Jan. 11, 2024, in New York. Records show over the past two years, Axos Bank and its largest individual shareholder Don Hankey, have extended more than $500 million in financing that has benefited Trump. Ethics experts say they could also grant Hankey and Axos Bank outsize sway in a future Trump administration.
The Securities and Exchange Commission investigated Axos during Barack Obama's presidency after a whistleblower filed a lawsuit accusing the bank of violating anti-money laundering rules, court records show. The investigation was closed in 2017 once Trump became president, while the whistleblower lawsuit was settled out of court.
In its statement, Axos Bank said it faced little risk from its lending to Trump, holding a “net principal balance exposure of less than $100 million.” When Trump was looking to exit his hotel lease of Washington's historic Old Post Office building, the company again came through, providing a $190 million loan that helped a Miami-based investor group complete the $375 million sale in 2022, according to property records.Many hotel brokers, owners and consultants did not expect the 263-room hotel down the street from the White House to fetch such a high price.
Source: News Formal (newsformal.com)
Politics Barack Obama Elections Donald Trump Business George W. Bush
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: dcexaminer - 🏆 6. / 94 Read more »
Source: Newsweek - 🏆 468. / 52 Read more »
Source: Newsweek - 🏆 468. / 52 Read more »
Source: Newsweek - 🏆 468. / 52 Read more »
Source: PageSix - 🏆 320. / 59 Read more »
Source: Newsweek - 🏆 468. / 52 Read more »