For decades Donald Trump sought a deal in Russia, a country he once reportedly heralded as “one of the hottest places in the world for investment.” A new filing from special counsel Robert Mueller suggests just how lucrative a move into Moscow might have been for the Trump Organization.
“If the project was completed,” Mueller, who is investigating alleged Russian interference in the 2016 election, wrote in a court filing released Friday, “the company could have received hundreds of millions of dollars from Russian sources in licensing fees and other revenues.”
The deal never came to fruition. But hundreds of millions would have been a massive haul, even for a man worth an estimated $3.1 billion. Most of Trump’s wealth is tied up in skyscrapers, golf courses and other real estate projects that are hard to sell. Forbes estimates that the president only has about $150 million worth of cash and other liquid assets.
Trump Tower, the president’s most famous building, is worth an estimated $323 million before debt. It took in an estimated $33 million in revenue in 2017. But running a building means paying for taxes, utilities, insurance and maintenance. So Trump Tower’s 2017 profits, measured in net operating income, were just $13.9 million.
The president’s licensing business, however, does not have the same big overhead expenses, meaning a new tower in Moscow could have presumably been a cash cow. Sure, striking such a deal might require a few flights and some legal fees, but there don’t seem to be many hard costs to letting someone else use your name. The proposed deal, the details of which remain unclear, could theoretically have also included an agreement for Trump to manage the property or given him a cut of condo sales in the building, potentially worth millions of dollars.
If Mueller is right, and the deal could have yielded “hundreds of millions,” that would mean a single Moscow deal may have brought in more money than the president’s entire annual rent roll, which generates an estimated $175 million for the Trump Organization. And it would certainly seem to be enough to cover the $66 million Trump personally put into his 2016 presidential campaign.
WASHINGTON — President Trump was involved in discussions to build a skyscraper in Moscow throughout the entire 2016 presidential campaign, his personal lawyer said on Sunday, a longer and more significant role for Mr. Trump than he had previously acknowledged.
The comments by his lawyer Rudolph W. Giuliani indicated that Mr. Trump’s efforts to complete a business deal in Russia waned only after Americans cast ballots in the presidential election.
The new timetable means that Mr. Trump was seeking a deal
- at the time he was calling for an end to economic sanctions against Russia imposed by the Obama administration. He was seeking a deal when he gave interviews
- questioning the legitimacy of NATO, a favorite talking point of President Vladimir V. Putin of Russia. And he was seeking a deal when, in July 2016, he
- called on Russia to release hacked Democratic emails that Mr. Putin’s government was rumored at the time to have stolen.
The Trump Tower Moscow discussions were “going on from the day I announced to the day I won,” Mr. Giuliani quoted Mr. Trump as saying during an interview with The New York Times. It was one of a flurry of interviews Mr. Giuliani did on Sunday amid fallout from a disputed report by BuzzFeed News that President Trump had personally directed his former lawyer and fixer, Michael D. Cohen, to lie to Congress about the negotiations over the skyscraper.
.. Mr. Giuliani also acknowledged that Mr. Trump might have talked to Mr. Cohen before his congressional testimony but he said his client had never instructed Mr. Cohen to lie. Mr. Trump acknowledged discussing the Moscow project with Mr. Cohen in written responses that the president gave Mr. Mueller’s investigators days before they revealed that Mr. Cohen had pleaded guilty to lying to Congress.
.. “We’re at Cohen’s mercy for the dates,” Mr. Giuliani said, adding that the president “doesn’t remember the dates. He does remember conversations about Moscow. He does remember the letter of intent. He does remember, after that, fleeting conversations.”
Like so many other threads of the Russia saga, the story that the president’s aides have told about the Trump Tower Moscow negotiations has changed repeatedly.
- First, they said that the discussions never moved beyond their infancy, barely involved Mr. Trump, and ended well before the Republican primaries. Then,
- when Mr. Cohen pleaded guilty in November to lying to Congress about the Tower negotiations, the special counsel’s office revealed they extended at least until the middle of 2016.
.. Jared Kushner, the president’s son-in-law and senior adviser, met with the head of a Russian bank under sanctions and asked Russia’s ambassador to Washington, Sergey I. Kislyak, whether Mr. Trump’s aides could use phone lines at the Russian embassy to communicate with Moscow during the presidential transition. Michael T. Flynn, who would become President Trump’s first national security adviser, discussed sanctions with Mr. Kislyak numerous times in December 2016 as President Obama punished Russia for its campaign of election interference.
.. One of the people Mr. Sater contacted was Evgeny Shmykov, a former general in Russian military intelligence who once worked with anti-Taliban fighters in Afghanistan. Mr. Sater appears to have seen Mr. Shmykov as a conduit to get Russian government approval for the Trump project.
.. Mr. Sater said that, for diplomatic reasons, the Kremlin could not issue the visas. Instead, he said, a Russian bank could provide the documents as part of “a business meeting not political.”
On the day of the third Republican presidential debate, Trump personally signed the letter of intent.
Trump received 10 personal updates from Michael Cohen and encouraged a planned meeting with Vladimir Putin.
WASHINGTON—Lawmakers said they would investigate a report that President Trump directed his former lawyer Michael Cohen to lie to Congress about the president’s involvement in a real-estate deal with Russia during the 2016 campaign.
.. “The allegation that the President of the United States may have suborned perjury before our committee in an effort to curtail the investigation and cover up his business dealings with Russia is among the most serious to date,” he tweeted.
.. Mr. Trump in a tweet Friday morning suggested Mr. Cohen was “lying to reduce his jail time,” but didn’t specify what he believed his former lawyer was lying about. Mr. Cohen was already sentenced last month to three years in prison.
.. Responding to the reported allegation, Rudy Giuliani, a lawyer for Mr. Trump, questioned Mr. Cohen’s credibility. “Haven’t checked it out but if you believe Cohen I can get you a good all-cash deal on the Brooklyn Bridge,” Mr. Giuliani said via text message.
.. Other Democratic members of the panel called for severe consequences if Mr. Trump is found to have directed his lawyer to lie to Congress. “If the @BuzzFeed story is true, President Trump must resign or be impeached,” Rep. Joaquin Castro (D., Texas) said on Twitter.
Rep. Ted Lieu (D., Calif.), a member of the House Judiciary Committee, said in a tweet that the report “establishes a clear case of obstruction of justice,” and said: “It is time for the House Judiciary Committee to start holding hearings to establish a record of whether @POTUS committed high crimes.”
Rachel Maddow reports on an avalanche of legal news including details in the Paul Manafort case exposed by a lawyer’s poor redactions, an intriguing new indictment, and another development in the mystery Mueller case.
Rudy Giuliani started Tuesday in the manner Americans have come to expect of the president’s lawyer: He attacked former FBI director James Comey by tweeting a cartoon image of Bashful from Disney’s “Snow White.”
Giuliani deleted the tweet, and anyway, it’s not clear why he chose Bashful.
Giuliani, asked by the New York Daily News to explain himself, said, “I don’t think I said nobody signed it.” Completing the reversal, he said “of course” Trump signed it: “How could you send it but nobody signed it?”
.. The “fool” has been a dramatic fixture at least since Shakespeare scribbled, and Giuliani is the fool for our time. Occasionally he speaks accidental truths, but mostly he plays the clown.
.. “Twitter allowed someone to invade my text with a disgusting anti-President message,” an alarmed Giuliani tweeted a few weeks ago, calling Twitter “card-carrying anti-Trumpers.” In fact, Giuliani had accidentally sabotaged his own tweet with a punctuation error — “G-20.In” — that automatically created a hyperlink to an Indian Web address. A clever observer quickly bought the domain and created a page that said “Donald Trump is a traitor.” Giuliani’s errant accusation was all the funnier because he’s also Trump’s “cybersecurity adviser.”
.. The former New York mayor, 74, has long been a loose cannon, asserting that there had not been any “successful Islamic terrorist attacks” during the George W. Bush administration, saying Trump’s travel ban was a legal way to do a “Muslim ban,” and predicting a “pretty big surprise” right before Comey reopened the Hillary Clinton email investigation. Alternately ill-informed and indiscreet, he’s just the guy you’d want as your lawyer.
.. Giuliani began as Trump’s lawyer in the spring by comparing FBI agents to “stormtroopers” and later claiming a law-enforcement informant was a “spy.”
.. He said he would charge special counsel Robert Mueller’s office “with a lance” to defend Ivanka Trump, but Jared Kushner is “disposable.”
.. He said Trump couldn’t be indicted as president even if he “shot” Comey.
.. He undermined months of Trump’s “no collusion” claims by proclaiming instead that “collusion is not a crime.”
He defended Trump on NBC’s “Meet the Press” by saying “truth isn’t truth.”
He admitted publicly that the June 2016 Trump Tower meeting was held “for the purpose of getting information about Clinton,” upending the official line that it was about adoption.
He suggested guilt when he told the Daily Beast “this was not a big crime” because “nobody got killed, nobody got robbed.”
And, days ago, he raised the possibility that associate Roger Stone gave Trump advance notice that WikiLeaks would release emails about Clinton stolen by Russia, saying “if” Stone had, “it’s not a crime.”
Clearly, some Giuliani dopiness is an effort to divulge damaging information gently. But he often makes matters worse.
.. Giuliani announced that Trump reimbursed Cohen for hush money to a porn actress. But he seemed baffled when told Cohen had claimed it was his own money: “He did?” Retreating, Giuliani said Trump wasn’t told about the payments, “but even if he was told, he wouldn’t have remembered it.” Further backpedaling, Giuliani said, “I’m not an expert on the facts” and issued a written statement “to clarify the views I expressed over the past few days.”
A similar mop-up came after Giuliani volunteered on TV that there had been a second meeting between Trump associates and Russians. Hours later, he said the just-referenced meeting “never happened.”
On Sunday, Giuliani was back to truth-isn’t-truth, telling ABC’s George Stephanopoulos that “unless you’re God . . . you will never know what the truth is” from Cohen. And Giuliani told Fox News’s Chris Wallace that Mueller would interview Trump “over my dead body — but you know, I could be dead.”
Perish the thought! We need Giuliani’s entertainment. But when he dies, there should be a memorable scene when he goes before the One Who Knows Truth.
“I didn’t lie,” Giuliani will say, “but even if I did, it wasn’t a crime to be Dopey.”
Comments:.. Trump is the anti-King Midas.
.. I’m sorry, but this column is mistaken. Giuliani is playing out his assigned role precisely as intended. Self-contradictions, deliberate falsehoods, apparent “misstatements,” bizarre tweets — all external hallmarks of Rudy’s boss, and Rudy’s a talented understudy. The purpose behind all this playacting is to distract and confuse, and it works. Trump continues to operate on the principle that the longer he can keep people shocked, off-balance, outraged, distracted, and confused, the longer he can rake in ill-gotten gains from his real aim: fleecing the American public. Giuliani has been recruited to assist in the Dept. of Misdirection.
The only fool thing Giuliani has done is to place the slightest reliance on Trump’s promise of whatever payback The Gilded Don has dangled in exchange for Rudy’s excellent diversionary stunts. A substantial group of construction subcontractors have learned, to their lasting pain and sorrow, what Trump’s promises are worth... I agree. Fortunately, Giuliani has no power or authority so people just ignore his inane pronouncements. In the words of Jimmy Breslin, “Rudy Guiliani is a small man in search of a balcony.”.. I think you’re giving them both more credit than they deserve. IMHO Trump is just a bully and Giuliani really is just a fool. But hey, there’s every chance you’re right, I’m just not sure they are smart enough to be so devious... Trump, Giuliani, and Gingrich: The Three Wives Men.. Oh god another moron who thinks he is a stable genius. Surely Rudy’s third divorce is having an affect on him. And getting kicked out of his law firm for disgracing them with his idiocy, and having another exwife asking for more money, just has Rudy rattled. Please somebody remove this blight on the Constitution from our eyes and ears... I find it amazing that anyone would even have this man appear in front of any camera. If one lived in NYC when he was Mayor (as I did) you would know the truth about him.He was a Mayor whose interest was to clean up the parks by moving all the homeless out of them with nowhere to go. Put them in the streets with no plan.Did nothing for NYC education, nothing for housing, nothing for women’s or Gay rights and on and on.The final straw was this America’s Mayor standing in front of Grace Mansion and telling the world he was divorcing his then wife (Donna Hanover) to marry his mistress. Never telling her in person.What kind of man is this? He is exactly the clown you see today licking the boots of a President who like Rudy is a man without scruples and who lies on TV then is brought back to reality with proof that he spouts these lies and thinks he will get away with them. Todays world has everything recorded. Mr Giuliani please go back to your senior home and take your meds... Could it be that Rudy is really a secret double agent who actually works for Mueller? Every time he opens his mouth, Rudy digs the hole deeper for Trump... Very nicely done. The most puzzling thing about Giuliani is that he doesn’t have the self-awareness to realize that he looks foolish and he apparently doesn’t have anyone close to him who he trusts to tell him that he looks foolish either. He has chosen a very difficult role: mouthpiece for an habitually lying, narcissistic degenerate. Very few people could take that role and emerge with any dignity. In fact, most people with dignity would not take that role. Guliani will not be remembered as the Mayor of New York City during 9/11 nor as the U.S. Attorney who once tried to clean up Wall Street. He will be remembered as Trump’s tool, and as this piece says, as a fool.
.. Mr. Rudolph Guiliani is second only to the TRumpster himself in making the TRumpster look guilty as sin.