Senator Wyden Requests Documents About Multi-Million Dollar Real Estate Sale from President Trump to Russian Billionaire

Blog

Senator Ron Wyden has requested documents from the U.S. Treasury Department relating to a property in Palm Beach, FL, that President Trump sold to a Russian oligarch.  “It is imperative that Congress follow the money and conduct a thorough investigation into any potential money laundering or other illicit dealings between the President, his associates, and Russia,” Senator Wyden wrote to Treasury Secretary Mnuchin.

President Trump purchased a large, 6.3-acre Palm Beach estate known as Maison de L’Amite in 2004 for $41.35 million.  Four years later, he sold the property to a Russian billionaire, Dmitry Ryobolovlev, for $95 million.  At the time, it was the single largest residential sale ever recorded in the U.S.  The sale received increased scrutiny last year as revelations of the President’s dealings with Russian businessmen garnered more attention because of the investigation into meddling in the 2016 election.

At the time of the sale, Ryobolovlev was ensnarled in nasty divorce proceedings with his wife who accused him of hiding his money in trusts, including real estate, to shield them from any potential division of assets that a court might order.  Ryobolovlev, at the time, was a major investor in the Bank of Cyprus, along with Wilbur Ross, a long-time friend of President Trump’s and now the U.S. Commerce Secretary.

Ryobolovlev has since torn down Maison de L’Amite and converted the land into three separate, saleable lots.  Two of them have since sold to shell companies whose owners are indiscernible.  The sale of the estate from Trump to Ryobolovlev has become a point of interest in special counsel Robert Mueller’s Russia investigation.

Wyden has asked Mncuhin to provide the requested documents by March 9.

 

Comments