President Trump’s lawyers released a letter confirming that, a review of his last 10 years of tax returns do not reflect “any income of any type from Russian sources.”
What the lawyers do point out is that Trump businesses did make money from Russian clients who played golf, stayed at Trump hotels, bought some real estate, and partnered in the Miss Universe pageant in Moscow.
No smoking gun, just normal business dealings. This will do nothing to squash the liberal left Russia hysteria.
The letter says there is no equity investment by Russians in entities controlled by Trump or debt owed by Trump to Russian lenders.
However, we suspect Democrats will cling to the “with some exceptions” line…
“As AP reports, the lawyers note that his tax returns do showIt does reflect income from the 2013 Miss Universe pageant held in Moscow and a property sold to a Russian billionaire in 2008 for $95 million.”
The White House says Trump asked his lawyers for a letter following a request from Republican Sen. Lindsey Graham of South Carolina, who heads one of the congressional committees investigating Russia’s interference in last year’s election.
Via the AP, here is the full paragraph from the letter by Trump lawyers Sherri Dillon & William Nelson explaining the “exceptions” to Russian money to Trump.
With a few exceptions — as detailed below — your tax returns do not reflect (1) any income of any type from Russian sources, (2) any debt owed by you or TTO to Russian lenders or any interest paid by you or TTO to Russian lenders, (3) any equity investments by Russian persons or entities in entities controlled by you or TTO, or (4) any equity or debt investments by you or TTO in Russian entities. The exceptions are: (I) in 2013, the Miss Universe pageant was held in Moscow, and of the $12.2 million of foreign income that it earned that year, a substantial portion of it was attributable to the Moscow event; (2) in 2008, Trump Properties LLC sold an estate in Florida, that it had acquired in 2005 for approximately $41 million, to a Russian billionaire for $95 million; and (3) over the years, it is likely that TTO or third-party entities engaged in ordinary course sales of goods or services to Russians or Russian entities, such as sales / rentals / fees for condominiums, hotel rooms, rounds of golf, books or Trump – licensed products (e.g., ties, mattresses, wine, etc.) that could have produced income attributable to Russian sources (such income would not have been separately identified as “Russian” in your books and records and therefore not separately reflected on your tax returns). With respect to this last exception, the amounts are immaterial.
Here’s the full paragraph from letter by Trump lawyers Sherri Dillon & William Nelson on “exceptions” to Russian $ to Trump pic.twitter.com/YBkW6Nc7Uu
— Rebecca Ballhaus (@rebeccaballhaus) May 12, 2017