The Democratic Senator, Ron Wyden, is curious about a transaction between President Trump and a Russian Oligarch. Trump allegedly sold his Palm Beach estate worth $40 million just four years after acquiring it. Dmitry Rybolovlev, the Russian buyer, allegedly acquired Palm Beach estate in 2008 at $100 million. Trump claimed to have sold the property at a higher price after renovating it.
Mr. Wyden is seeking records of the transaction from the Treasury Department Suspicious Activity Reports. Senator Wyden believes that Congress has a duty to investigate the transaction for possible money laundering.
Ron Wyden is a member of the Senate Intelligence Committee. The committee, inclusive of Robert Mueller, is looking into the suspected collusion between Trump and Russian aides.
Despite being a real-estate tycoon, Trump filed for bankruptcy for Trump Entertainment Resorts after failing to get credit facilities from banks. This happened just before he sold the Palm Beach estate. Dmitry Rybolovlev later on divided and sold off the property to different buyers. The new buyers were operating from offshore companies, something that triggers suspicion by the Oregon Senator. So far, the Treasury Department and Trump organization have kept mum regarding Wyden’s request.