Trump Businesses Sue Capital One Over $100M Credit Card Debt Claim
Several Trump businesses are suing Capital One over a dispute about unpaid debts and alleged wrongdoing by a former employee of a company owned by President Donald Trump's children, Donald Trump Jr. and Ivanka Trump. The lawsuits, filed in February, claim the bank has engaged in illegal activities to collect debts from Trump companies.
The Donald J. Trump Revocable Trust and several of its affiliated entities are suing Capital One after being denied a $125 million loan to restructure debts at one of Trump's golf courses in Scotland. The request was part of the trust's plan to reduce debt by up to 50% and avoid bankruptcy. Capital One claimed that the project did not meet certain requirements, including a minimum investment from existing lenders. The lawsuit marks another move by Trump's business empire against a financial institution.
