Trump's Financial Lifeline — Axos Bank Steps Up Amid Crisis: Report
Portfolio Pulse from Michael Cohen
Axos Bank (NYSE:AX) has reportedly emerged as a crucial financial ally to former President Donald Trump during his financial crisis, extending significant loans to Trump's businesses when other financial institutions distanced themselves. Axos Bank's CEO Gregory Garrabrants sanctioned a $100 million loan for Trump Tower and a $125 million loan for Trump's Doral resort. The bank also financed a portion of a loan that enabled a group of investors to purchase Trump's D.C. hotel for $375 million. These loans have caught the attention of New York Attorney General Letitia James, who is leading a lawsuit alleging that Trump falsified records to overstate the worth of his properties in financial statements.
July 27, 2023 | 2:56 pm
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Axos Bank has extended significant loans to Donald Trump's businesses during his financial crisis, which has caught the attention of the New York Attorney General. This could potentially lead to legal scrutiny for the bank.
Axos Bank's involvement in extending significant loans to Donald Trump's businesses during his financial crisis has caught the attention of the New York Attorney General. This could potentially lead to legal scrutiny for the bank, which could negatively impact its stock price in the short term.
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