The mortgage that was on the Trump Tower was Refinanced By Donald Trump, the former President of America. The mortgage was paid by taking a loan of $100 million from Axos Bank, which is situated in California.
The Controversy Related To Trump Tower
The signature on the document of the loan paper was done by Eric Trump on 15th February. This organization has been run by Eric Trump and Donald Trump Jr, daily since the time when their father, Donal Trump won the election and became the President of America in 2017.
Though the financial details and terms of the agreement remain hidden, still in a statement given by Eric Trump to CNN, he mentioned the importance of the Trump Tower. He stated that it is an iconic building which is famous in the whole world and it is situated in the most prestigious location of New York. As their debt is low, and the family contains a lot of cash, they could easily refinance the entire Trump Tower.
However, no official statement came from the officials of Axos Bank. It is known for a fact that the President of Axios Bank has contributed a lot of donations for the campaigns of Trump’s political election. The refinancing has been done as there is a lot of confusion about the business that is held in Trump Tower. The entire organization is under close supervision and recent issues have raised quite a few eyebrows.
The Office of District Attorney in Manhattan said that the criminal investigation will be continued on the company even though the last two officers resigned the previous month. The Trump Organisation is said to have misled banks and other financial institutions by showing wrong asset valuation of the organization and took several benefits out of them like loans, deduction in tax, and insurance coverage. The entire organization along with Allen Weisselberg, the chief financial officer of this organization are held for conducting tax frauds for the last 15 years.