Thursday, March 28, 2019

New Evidence of Trump Financial Fraud

The Washington Post has obtained some of the documents that investigators have been looking into to determine if Donald Trump acted to mislead potential lenders about his true net worth. That accusation was made, pointedly, by longtime Trump attorney Michael Cohen in his public testimony before Congress.

And some of those documents, Trump's "statements of financial condition" provided to banks and insurers, are astonishing.
  • Trump lied about the number of floors in Trump Tower, claiming it had 68 floors rather than 58.  
  • Trump lied about the size of his 1,200-acre Virginia vineyard, claiming it was 2,000 acres, or almost double its true size.                                                                                                                
  • Trump lied about the number of lots he had zoned and ready for sale at his Southern California golf course, claiming 24 lots that did not exist.
These are not minor mistakes-- lying about 24 lots on his golf course represented a whopping $72 million overstatement.   Claiming a property is almost twice as large as it actually is or claiming your signature tower has sprouted ten more floors overnight would normally be the sort of thing that would get any other developer thrown in prison.

No comments: