Donald Trump left the White House facing a cash crunch that threatened his business empire. But soon a new source stepped forward to provide a financial lifeline.
WASHINGTON (AP) — Donald Trump left the White House facing a cash crunch and a tattered reputation after his attempts to overturn the 2020 election, threatening the viability of his business empire.
Over the past two years, Axos Bank, as well as its largest individual shareholder, California billionaire Don Hankey, have collectively extended more than $500 million in financing that has benefited Trump, records show.
“If the guy gets back in the White House, they’ve got him over a barrel,” said Richard Painter, a former ethics lawyer for President George W. Bush who later ran for Senate in Minnesota as a Democrat.
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.
Westlake also paid $700,000 to resolve a 2017 Justice Department lawsuit, which accused the company of illegally repossessing at least 70 vehicles owned by members of the military.
“I’m chairman of the board of several companies, and we just carry on our business and we try to stay away from political issues or taking sides,” Hankey told The Washington Post.
The original article contains 1,048 words, the summary contains 190 words. Saved 82%. I’m a bot and I’m open source!
This is the best summary I could come up with:
WASHINGTON (AP) — Donald Trump left the White House facing a cash crunch and a tattered reputation after his attempts to overturn the 2020 election, threatening the viability of his business empire.
Over the past two years, Axos Bank, as well as its largest individual shareholder, California billionaire Don Hankey, have collectively extended more than $500 million in financing that has benefited Trump, records show.
“If the guy gets back in the White House, they’ve got him over a barrel,” said Richard Painter, a former ethics lawyer for President George W. Bush who later ran for Senate in Minnesota as a Democrat.
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.
Westlake also paid $700,000 to resolve a 2017 Justice Department lawsuit, which accused the company of illegally repossessing at least 70 vehicles owned by members of the military.
“I’m chairman of the board of several companies, and we just carry on our business and we try to stay away from political issues or taking sides,” Hankey told The Washington Post.
The original article contains 1,048 words, the summary contains 190 words. Saved 82%. I’m a bot and I’m open source!