Trump In August: Trump Projects Don't Use Chinese Money
A Bloomberg investigation on Sunday found that a Trump-branded tower in New Jersey courted Chinese investors through a fast-track visa program.
A Bloomberg investigation on Sunday, chronicled how Trump Bay Street, a 50-story luxury rental apartment complex in New Jersey being built by a company owned by the family of Ivanka Trump's husband is partially funded by Chinese investors.
According to the investigation, "Trump Tower Funded by Rich Chinese Who Invest Cash for Visas," the Kushner Companies development project courted wealthy Chinese investors through a controversial government program that offers fast-tracked visas in exchange for investments.
In August, however, when CNN when asked Trump if used Chinese money for his projects, he said he never did.
"I never used Chinese money, but I buy Chinese products, because they keep lowering their currency," Trump said to Chris Cuomo. "If you look at the Wall Street Journal the number one story is that they're lowering their currency again, big league. They're just destroying us. Our currency is going up, which sounds good, but actually if you look at what it's doing to our country -- and they're devaluing their currency. They're doing a big cut. That's going to be devastating for us. Chris, our companies cannot compete with China."
A Trump spokesman told Bloomberg it was a licensing deal and Trump wasn't involved in the financing.