Russian State-Run Bank Financed Deal Involving Trump Hotel Partner
VEB, a Russian state-run bank under scrutiny by U.S. investigators, financed a deal involving Donald Trump’s onetime partner in a Toronto hotel tower at a key moment for the project, according to people familiar with the transaction.
Alexander Shnaider, a Russian-Canadian developer who built the 65-story Trump International Hotel and Tower, put money into the project after receiving hundreds of millions of dollars from a separate asset sale that involved the Russian bank, whose full name is Vnesheconombank.
U.S. investigators are looking into any ties between Russian financial institutions, Mr. Trump and anyone in his orbit, according to a person familiar with the probe. As part of the investigation, they’re examining interactions between Mr. Trump, his associates and VEB, which is now subject to U.S. sanctions, said another person familiar with the matter. The Toronto deal adds a new element to the list of known connections between Mr. Trump’s associates and Russia.
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