Stories

Funding for Trump hotel traces back to Russian bank

Charles Rex Arbogast / AP

Alexander Shnaider, a Russian-Canadian developer who partnered with Trump to build the Trump International Hotel and Tower in Toronto, used hundreds of millions of dollars that can be traced back to Vnesheconombank (VEB), a Russian government-run bank under investigation in the U.S., to help finance the project, reports the WSJ.

Why this matters: A Trump Organization spokesman told the WSJ that the company had no financial dealings with VEB. Trump has also repeatedly stated that he has no ties to Russia. Meanwhile, federal investigators are looking into the links between Trump's staff and Russian financial institutions. This all comes as Trump has been under fire for sharing Israeli intelligence with top Russian officials.