March 28, 2019
THE TIGHTENING NOOSE:
How Donald Trump inflated his net worth to lenders and investors (David A. Fahrenthold and Jonathan O'Connell March 28, 2019, Washington Post)
For instance, Trump's financial statement for 2011 said he had 55 home lots to sell at his golf course in Southern California. Those lots would sell for $3 million or more, the statement said.But Trump had only 31 lots zoned and ready for sale at the course, according to city records. He claimed credit for 24 lots -- and at least $72 million in future revenue -- he didn't have.He also claimed his Virginia vineyard had 2,000 acres, when it really has about 1,200. He said Trump Tower has 68 stories. It has 58.GIVES INCORRECT NUMBER OF HOME LOTS IN CALIFORNIADocument states Trump National Golf Club is presently zoned for 75 home sites with unparalleled ocean and golf course views. At June 30, 2011, there were 55 home sites available for sale.At that point, only 36 lots were actually approved for sale, and by this point 5 had already been sold. That left 31 - not 55 - available for sale. Since Trump was promising he could sell them for at least $3 million each, there was a $72 million gap between his claims and reality.ADDS 10 STORIES TO TRUMP TOWERDocument states "this 68-story bronze glass structure."Trump Tower only has 58 stories, but Trump re-numbered the floors to make it seem taller.Now, investigators on Capitol Hill and in New York are homing in on these unusual documents in an apparent attempt to determine whether Trump's familiar habit of bragging about his wealth ever crossed a line into fraud.The statements are at the center of at least two of the inquiries that continue to follow Trump, unaffected by the end of special counsel Robert S. Mueller III's investigation. On Wednesday, the House Committee on Oversight and Reform said it had requested 10 years of these statements from Trump's accounting firm, Mazars USA.
Posted by Orrin Judd at March 28, 2019 5:04 PM
