File 030972
Email Exchange Regarding Trump-Epstein Palm Beach Property Transaction and Money Laundering Concerns (File 030972)
Email correspondence referencing Michael Wolff's analysis of Trump's financial dealings, specifically detailing a 2004 Palm Beach property dispute between Trump and Epstein involving alleged Russian oligarch Dmitry Rybolovlev and potential money laundering schemes.
Summary
This document contains an email chain discussing Trump's controversial real estate transaction in Palm Beach, Florida in 2004. Michael Wolff's analysis describes how Trump and Epstein competed for the same property, with Trump ultimately purchasing it for $41 million through Trump Properties LLC with Deutsche Bank financing. The document alleges Epstein suspected Russian oligarch Dmitry Rybolovlev was the actual owner and that Trump may have served as a front man for money laundering. After the property was later sold to Rybolovlev for $96 million, Trump purportedly profited significantly. The email references subsequent investigations into Epstein's activities and includes a comment from Steve Bannon about fearing Epstein's potential testimony during Trump's campaign.
From: J [jeevacation@gmail.com]Sent: 2/1/2019 4:11:28 PMTo: Michael WolffSubject: Re: FYINeeds edit but ... ie 36! M Ryboloev not known in 05 , Talk laterOn Fri, Feb 1, 2019 at 11:07 AM Michael Wolff < > wrote:Books and newspaper accounts of Trump's 45 years in business were full of hisshady dealings, and the presidency had only helped to highlight them and to surface evenjuicier ones. Real estate was the world's favorite money laundering currency and Trump'sB-level real estate business was quite explicitly designed to appeal to money launderers.What's more, Trump's own financial woes, and desperate efforts to maintain billionairelifestyle, cache, and market viability, forced him into constant and unsubtleschemes. Practically speaking, you couldn't miss him, as the Mueller investigationappeared to be finding.In November 2004, for instance, Jeffrey Epstein, the financier later caught in a scandalinvolving under-age prostitutes, agreed to buy out of bankruptcy a house in Palm Beach,Florida for $30 million—a house that had been on the market for two years. Epstein andTrump had been close friends—playboys in arms, as it were—for more than a decade,with Epstein often counseling Trump on his chaotic financial affairs. Epstein took Trumpto see the Palm Beach house to advise him on construction issues involved with moving aswimming pool. As he prepared to finalize his deal for the house, an incredulous Epsteinsaw a severely cash-constrained Trump bid $41 million for the property, buying itthrough an entity called Trump Properties LLC, financed by Deutsche Bank. Trump,Epstein knew, had been renting his name, telling Epstein he ought to do the same—thatis, for an ample fee, Trump was willing to serve as a front man to disguise the actualownership in a real estate transaction. (This was, in effect, just another variation ofTrump's basic business model of licensing his name for commercial properties owned bysomeone else.) A furious Epstein, suspecting that the real owner was a Russian oligarch,who Trump knew, Dmitry Rybolovlev—part of the close Putin circle of government-aligned industrialists in Russia—threatened to expose the deal, then getting extensivescrutiny in Florida papers. The fight became all the more bitter when, two months later,the house was put on the market for $125 million. Well known to Trump, who often sawEpstein at his current Palm Beach house, Epstein was visited almost every day, and hadbeen for many years, by girls who he paid for massages with happy endings—girlsrecruited from local restaurants, strip clubs, and, also, Trump's Mar-a-Lago. Just as thethreats and enmity of the two friends increased over the house sale, Epstein foundhimself under investigation by local Palm Beach police. Epstein's legal problems vastlyescalated as the house, with only minor improvements, was bought for $96 million byDmitry Rybolovlev. That is, Trump had either miraculously earned $55 million, withoutputting up a dime, or Rybolovlev, or someone such as Rybolovlev, paid Trump Properties,LLC—actual owner unknown—$96 million, thereby providing a clean payment of $55HOUSE OVERSIGHT 030972million to someone. Ryboloyley might have, in effect, paid himself for the house, therebycleansing the money. Epstein, on his part, would spend 12 months in jail on a prostitutioncharge.After the election, when Bannon was introduced to Epstein, Bannon told him, "You werethe one person I was truly afraid of coming forward during the campaign.""And rightly so," said Epstein.please noteThe information contained in this communication isconfidential, may be attorney-client privileged, mayconstitute inside information, and is intended only forthe use of the addressee. It is the property ofJEEUnauthorized use, disclosure or copying of thiscommunication or any part thereof is strictly prohibitedand may be unlawful. If you have received thiscommunication in error, please notify us immediately byreturn e-mail or by e-mail to jeevacation@gmail.com, anddestroy this communication and all copies thereof,including all attachments. copyright -all rights reservedHOUSE OVERSIGHT 030973