Trump Update: Donald Trump is trapped in millions of dollars of debt in China, trapped badly in his own trap

Trump Update: Donald Trump is trapped in millions of dollars of debt in China, trapped badly in his own trap

Donald Trump, who attacked China's Democratic Party rival Joe Biden as an agent of China, is surrounded by his own statements.  Trump is accused of borrowing millions of dollars from the Bank of China for 1290 avenue of the americas, a Manhattan-based building.

Trump Updates :

 ~ Donald Trump himself surrounded himself badly with his statement on Democratic Party candidate Joe Biden.

 ~Trump borrowed millions of dollars from Bank of China to build one of his buildings.

 ~Bank of China has said that it had given the loan but was later sold.

 ~Now there is ruckus in America's political department on this issue.

US President Donald Trump is seen trapped in his own trap.  Trump has often said of his rival, Joe Biden, that if he holds power, the US will be "occupied by China".  But according to a shocking revelation, Trump himself is immersed in China's debt.

 According to a report by Politico, Donald Trump's real estate partner took a $ 1 billion (Rs 7,500 crore) loan for Trump's prized building in New York in 2012.  Of this $ 1 billion, 211 million dollars (about 1,600 crore rupees) was borrowed from Bank of China, the first loan of its kind in the US and it will be matured in Trump's second term, if he is again the President of the US.  If made.

Trump Update:

 In addition to Manhattan's Trump Tower, the 43-story 1290 Avenue of the Americas skyscraper is spread across one block of the city.  The property is worth more than $ 1 billion (Rs 7,500 crore) and Trump holds a 30% stake in it.  This building is one of the most prized buildings of Trump.

In 2016, before and after the election campaign of Trump, there was a lot of talk about the ownership of this building.  When the loan was taken from Bank of China in 2012, no one noticed it.  Trump's relationship with the Bank of China made headlines when he claimed in his campaign that Joe Biden would be a gift to the US from the communist country and America's main economic rival.

70% stake of Vornado Realty Trust

 After Trump's statement surfaced, Bank of China issued a statement on Friday evening stating that the building was sold a few weeks after the building was given a loan in 2012.  The 70% stake in this building is owned by the Vornado Realty Trust.

 Bank of China denied

 Peter Reisman, Chief Communications Officer and MD, Bank of China USA, said, "On November 7, 2012, several financial institutions, including Bank of China, gave a commercial mortgage loan of $ 95 million to the Vornado Realty Trust.  Within 22 days, the loan was scrutinized and sold in the (Commercial Mortgage Backed Securities) market.  This usually happens in industry.  After November 2012, Bank of China has no ownership in the loan.