The release of former President Donald Trump’s tax returns shows he spent $1 million rescuing his son Don Jr. when the younger Trump’s pre-fab housing business was on the brink of failure. A million-dollar infusion of cash in 2018, helped put off the inevitable – for a little while, anyway.
But Junior wasn’t alone in having his hand out.
The middle child of the three oldest siblings, his younger brother Eric and older sister Ivanka, also received financial bailouts from their father. According to Yahoo News, the ex-President loaned his three elder children over $50,000 in 2015.
DJTJ’s company, Titan Atlas Manufacturing was supposed to revolutionize the housing market.
In 2010, the former President’s namesake announced the company was going to build millions of pre-fabricated homes at a 158,000-square-foot warehouse that Titas Atlas purchased in Charleston, SC.
Occupy Democrats reported on the failed venture in July of this year – detailing how the chip off the old grifting block left the southern city holding a $33 million bag after plans to turn an abandoned naval hospital into a luxury hotel failed to materialize.
Only a handful of homes could be verifiably built – including one for the mayor of N. Charleston.
Without windows, doors, plumbing, or electrical, it’s safe to safe the project was a fail. Though it didn’t stop Jr. and his business partners from taking whatever profit existed with them when skipping town.
Titan took advantage of Obama-era policies giving handouts to companies combatting the climate crisis – but a Trump is gonna do what a Trump is gonna do.
The oldest son is alleged to have stolen from his employees with a scam that entailed skimming state and federal taxes and social security payments from their paychecks but failing to turn them over to the federal government.
By 2017, Titan Atlas would be subjected to multiple liens – and in 2018, Daddy stepped in.
Former Trump fixer, and convicted felon, Michael Cohen was aware of Junior’s troubles. According to the former attorney, “He was desperate to make money on his own. And desperate people do stupid things,” Cohen said of DJTJ.
Tell us something we don’t know.
Less surprising that the eldest Trump son failed at business, is that his father – known for being cheap – ponied up $1 million to bail his less favored child out of a financial bind.
Original reporting by Eric Garcia at The Independent.
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