Tax records show 200 entities funneled money to Trump properties while reaping benefits from White House: NYT

A New York Times analysis of tax records showed that more than 200 companies, special-interest groups and foreign governments have funneled millions of dollars to President Trump’s properties while reaping benefits from the president and his administration.

Nearly a quarter of the entities have not been previously reported.

Sixty patrons who promoted specific interests to the Trump administration spent almost $12 million on expenses associated with the Trump Organization during the first two years of Trump’s presidency. The Times reported nearly all of these customers saw their interests move forward.

The Times noted that the tax records do not include all payments to Trump properties, but additional data is tracked by the town of Palm Beach, Fla., where Trump’s Mar-a-Lago club is located. Organizations that had special interests reported spending $3.3 million on events at the club from 2017 to now.

The records and membership rosters for Mar-a-Lago and Trump’s golf club in Bedminster, N.J., also show how much money his business was making once he sat in the White House.

Being a member of his clubs also allowed leaders to get time with the president and sometimes his support, as he offered ambassadorships to five members and chose others for advisory roles in his administration.

White House spokesperson Judd Deere told The Hill in a statement that the Times report was “just more fake news.”

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A New York Times analysis of tax records showed that more than 200 companies, special-interest groups and foreign governments have funneled millions of dollars to President TrumpDonald John TrumpNorth Korea unveils large intercontinental ballistic missile at military parade Trump no longer considered a risk to transmit COVID-19, doctor says New ad from Trump campaign features Fauci MORE’s properties while reaping benefits from the president and his administration. 

Nearly a nearly a quarter of the entities have not been previously reported.

Sixty patrons, who promoted specific interests to the Trump administration, spent almost $12 million on expenses associated with the Trump Organization during the first two years of Trump’s presidency. The Times reported nearly all of these customers saw their interests move forward. 

In interviews with almost 250 business executives, club members, lobbyists, Trump property employees and current administration officials, sources detailed to Times how Trump conducted business and interacted with customers who were seeking help from the administration.

The newspaper also used Trump’s tax-return data, lobbying disclosures, Freedom of Information Act requests and other public records to construct a database of groups, companies and governments that had business before the administration and spent money on Trump properties.

The Trump Organization’s customers included foreign politicians, Florida barons, a Chinese billionaire, a Serbian prince, clean-energy advocates, petroleum industry leaders, small government advocates and contractors. The newspaper noted that some of the president’s customers did not see their interests fully fulfilled but noted “whether they won or lost, Mr. Trump benefited financially.”

More than 70 advocacy groups, businesses and foreign governments held events at Trump Organization properties that previously were at different locations or developed new events to be hosted at the properties. Religious organizations also participated by throwing prayer meetings, banquets and tours on Trump properties.

At least two dozen

Last December, fellow Dividend Kings founder Dividend Sensei wrote an article on Innovative Industrial Properties (IIPR). In it, he explained that it’s likely to be the fastest-growing real estate investment trust (REIT) of 2020.

Sure enough, IIPR has returned 100.4% so far in 2020:

(Source: FAST Graphs)

Think about it folks…

IIPR has returned more than 100% in the midst of a global pandemic, and we’re still buying! I know that sounds crazy, but the growth opportunities in legal cannabis – what its tenants operate in – is enormous.

In 2017 alone, U.S. sales were $8.6 billion, with $5.9 billion being of the medical variety. And ArcView Market Research estimates that, by 2022, it will be a $22 billion industry.

Many investors today focus on cannabis growers themselves. But that isn’t likely the best way to profit from this hyper-growth industry. The “weed” in question is a commodity product with unproven branding power that may end up being no more profitable than corn.

(Source)

With that said, spending by state-licensed cannabis operators is growing, creating a unique opportunity for a REIT like IIPR. Since roaring out of the gate in late 2016, it appears to have cracked the code on legally minting money from marijuana.

This triple net lease/industrial REIT has delivered some of the best total returns of any stock in America in the past four years. Shares are now trading at $124.79, drawing ever closer to their all-time high of $130.16 from July 1, 2019.

(Source: Yahoo Finance)

A Closer Look…

Innovative Industrial Properties is the NYSE’s first and only to provide real estate capital to the medical-use cannabis industry. As viewed below, it holds 61 properties amounting to 4.5 million square feet in 16 states.

Better yet, its portfolio is 99.2% leased with a weighted average lease

(Bloomberg) — The U.K. reached a 9.8 million pound ($12.7 million) settlement in its first successful use of a controversial power designed to crack down on dirty money.



a sign on the side of a building: LONDON, ENGLAND - OCTOBER 07: A general view of The National Crime Agency building in Westminster on October 7, 2013 in London, England. The NCA replaces SOCA, the Serious Organised Crime Agency, which was formed in 2006. Dubbed "the British FBI", the NCA will be tasked with tackling the most serious of crimes in the UK and replaces a number of existing bodies. (Photo by Dan Kitwood/Getty Images)


© Photographer: Dan Kitwood/Getty Images Europe
LONDON, ENGLAND – OCTOBER 07: A general view of The National Crime Agency building in Westminster on October 7, 2013 in London, England. The NCA replaces SOCA, the Serious Organised Crime Agency, which was formed in 2006. Dubbed “the British FBI”, the NCA will be tasked with tackling the most serious of crimes in the UK and replaces a number of existing bodies. (Photo by Dan Kitwood/Getty Images)

The National Crime Agency settled a so-called Unexplained Wealth Order with Mansoor “Manni” Mahmood Hussain, a Leeds businessman, the agency said Wednesday in a statement. The 40-year-old handed over more than 45 properties in London, Leeds and Cheshire, four parcels of land, and nearly 600,000 pounds in cash. The London properties include two apartments in the tony Knightsbridge neighborhood.

“This case is a milestone, demonstrating the power of Unexplained Wealth Orders, with significant implications for how we pursue illicit finance in the U.K,” Graeme Biggar, the NCA’s director general of the National Economic Crime Centre, said in a statement.

Hussain didn’t respond to several messages left with his business. The NCA accused him of using blackmail, threats of violence and ties to criminals to build his property portfolio.

The British government introduced UWOs two years ago to help stop a growing problem of criminals and dictators using the country to hide their wealth. The civil litigation tool forces people with assets of more than 50,000 pounds to prove their funds come from legitimate sources. Failure to comply with the order can allow a court to freeze the assets.

In July, a parliamentary report on Russian involvement in

By Clara-Laeila Laudette

MADRID, Oct 6 (Reuters)Investment giant Blackstone BX.N is offering a sweetener to buyers as it tries to speed up the sale of 8,400 properties in Spain in the teeth of the country’s deepest recession on record.

Two Blackstone units, Aliseda and Anticipa, said on Tuesday they would reimburse buyers up to one tenth of the sale price if their property dropped more than a tenth in value in the three months after a deal is sealed.

“We detected the current context was generating uncertainty for buyers, and wanted to provide them with security and send a message of confidence in the Spanish real estate market,” said Aliseda communications director Jaime Navarro.

Blackstone bought the real estate portfolio, known as “Quasar”, in 2017 from Santander, Spain’s biggest lender, which had acquired it for 1 euro in 2016 following the collapse of its previous owner Banco Popular.

Aliseda took control of the portfolio and placed it on sale in 2018, but many properties remain on the market as the COVID-19 pandemic plunges Spain into a deep recession.

The portfolio being advertised is valued at 1.035 billion euros ($1.22 billion), with 640 million being handled by Aliseda, which is selling 5,700 properties.

Hola Pisos – Anticipa’s commercial outfit – is selling 2,700 properties, valued at 395 million.

To decide whether a buyer qualifies for the 10% reimbursement, Blackstone will consult the price index compiled by Spain’s infrastructure ministry for each province.

Navarro said the offer did not imply a prediction prices would fall in coming months, and that his company did not make forecasts.

There are, however, signs that Spain’s economic paralysis has hurt real estate.

The presence of funds as major property owners in Spain is politically controversial, with the current administration decreeing in March a