Over the next few years, the money kept rolling in for Trump. He took out two mortgages against a resort in Miami and a $170 million loan to finish his hotel in Washington, D.C.   According to Bloomberg , by the time Trump was elected president of the United States in November 2016, he owed Deutsche around $300 million, an unprecedented debt for an incoming president. (His June financial disclosure   showed   he owes the bank $130 million, which is due in full in 2024.)

The loans to Trump weren’t the only abnormal behavior at Deutsche. Around the same time he received his new line of credit, the bank was laundering money, according to the New York State Department of Financial Services (DFS). Russian money. Billions of dollars that flowed from Moscow to London, then from London to New York—part of a scheme for which European and American regulators eventually punished the bank.

In 2013, however, after hosting the  Miss Universe pageant  in Moscow,  he told Real Estate Weekly : “The Russian market is attracted to me, I have a great relationship with many Russians.” He also said that “almost all of the oligarchs were in the room” at a party he threw.

Trump’s older son, Donald Jr, has also made mention of financial relationships in Russia. In 2008, speaking at a real estate conference,  he said : “We are looking all over the place, primarily Russia.”