A state-run Russian bank financed an asset sale in 2010 involving President Trump’s partner in a Toronto hotel.
Trump’s partner, Russian-Canadian developer Alexander Schnaider, pumped money into Trump’s Toronto hotel after selling his company’s share in a Ukrainian steelmaker. The Russian bank Vnesheconombank (VEB) provided the money for the sale, according to the Journal — a transaction worth about $850 million.
The buyer has not been publicly identified, but two sources familiar with the matter told the Journal that the money was provided by an entity acting on behalf of the Russian government.