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Trump’s Scottish and Irish golf resorts spur a new round of scrutiny on his businesses; Watchdog group wants New York prosecutors to investigate whether Trump filed false information on his annual financial disclosures.
Politico ^ | 08/13/2020 | Anita Kumar

Posted on 08/15/2020 7:26:30 PM PDT by SeekAndFind

President Donald Trump appears to have inflated the value of his three golf resorts in Scotland and Ireland in documents filed with the U.S. government, according to a new examination of six years of financial records in the U.S. and Europe. And the group behind the finding wants the discrepancy investigated as part of a sprawling government probe into the Trump Organization‘s finances.

Trump claimed the resorts — Trump International Golf Links Aberdeen and Trump Turnberry, both in Scotland, and Trump Doonbeg in Ireland — brought in a total of about $179 million in revenue on U.S. documents where he is supposed to list his personal income. Records in the United Kingdom and Ireland indicate the resorts‘ revenues were millions of dollars less — about $152 million — and show they actually lost $77 million after accounting for expenses.

Trump claimed the Scottish resorts alone were worth at least $100 million total in 2018 on U.S. documents, but the U.K. records indicate that the resorts aren’t worth anywhere near that because the debts exceeded the assets by about $80 million that year.

The left-leaning American Democracy Legal Fund, a self-described government watchdog group, is asking Manhattan District Attorney Cyrus Vance Jr. to look into whether Trump, who repeatedly brags about his wealth, violated the law by filing false documents with the U.S. government to hide the financial health of himself and his company, according to a letter dated Monday obtained by POLITICO. The group is sending a similar letter to the FBI.

Vance indicated in a court filing last week that he is investigating the president for bank and insurance fraud as the prosecutor battles to obtain access to eight years of financial records related to Trump and his businesses.

(Excerpt) Read more at politico.com ...


TOPICS: Business/Economy; Society
KEYWORDS: fakenews; golfresorts; pollutico; scrutiny; tds; trump; witchhunt
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1 posted on 08/15/2020 7:26:30 PM PDT by SeekAndFind
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To: SeekAndFind
Wonder why Trump's businesses, charity, and Trump university weren't scrutinized prior to June 15, 2015.

Damn, that escalator must have magical powers to turn people who loved Trump and ignored all his business dealings and womanizing into stark-raving mad lunatics.

2 posted on 08/15/2020 7:29:45 PM PDT by Extremely Extreme Extremist (Trust the plan of the 17th letter of the English alphabet!)
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To: SeekAndFind

Investigate Antifa US funding.


3 posted on 08/15/2020 7:30:01 PM PDT by Paladin2
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To: Extremely Extreme Extremist

Damn, that escalator must have magical powers to turn people who loved Trump and ignored all his business dealings and womanizing into stark-raving mad lunatics

= = =

Amen to that.


4 posted on 08/15/2020 7:31:48 PM PDT by Jane Long (Praise God, from whom ALL blessings flow.)
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To: SeekAndFind

Nonsense article. Revenue does not equal value.


5 posted on 08/15/2020 7:32:10 PM PDT by JerryBlackwell (some animals are more equal than others)
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To: SeekAndFind

Trump is not stupid when it comes to business.

They will NOT find anything amiss because there isn’t anything to find.

For one thing, if it had been there, they would have found it already.

For another, he’s just not that kind of crooked person. He’s smart and savvy enough that he doesn’t need to be.


6 posted on 08/15/2020 7:32:57 PM PDT by metmom ( ...fixing our eyes on Jesus, the Author and Perfecter of our faith...)
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To: SeekAndFind

“It’s okay to hate democrats.”


7 posted on 08/15/2020 7:37:16 PM PDT by glasseye ("A policeman's job is only easy in a police state." Orson Welles)
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To: SeekAndFind

The next witch-hunt.


8 posted on 08/15/2020 7:38:54 PM PDT by EvilCapitalist (Fire Fauci)
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To: SeekAndFind

So sick of this crap. Given the current state of our country, seems like the perfect time to split. There’s no co-existing with the left. Let’s end it.


9 posted on 08/15/2020 7:40:54 PM PDT by jersey117
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To: SeekAndFind

Overvaluation wouldn’t be a problem. UndervLuing would be
These people are stupid


10 posted on 08/15/2020 7:43:49 PM PDT by gov_bean_ counter (AOC the bartender would have had to work on the second floor at Miss KittyÂ’s saloonr...)
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To: SeekAndFind

Geez - undervaluing


11 posted on 08/15/2020 7:45:12 PM PDT by gov_bean_ counter (AOC the bartender would have had to work on the second floor at Miss KittyÂ’s saloonr...)
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To: SeekAndFind

More chihuahuas nipping fruitlessly at his heels.


12 posted on 08/15/2020 7:50:57 PM PDT by Robert DeLong
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To: gov_bean_ counter

RE: Geez - undervaluing

From the article:

“Trump claimed the resorts — Trump International Golf Links Aberdeen and Trump Turnberry, both in Scotland, and Trump Doonbeg in Ireland — brought in a total of about $179 million in revenue on U.S. documents where he is supposed to list his personal income. Records in the United Kingdom and Ireland indicate the resorts‘ revenues were millions of dollars less — about $152 million — and show they actually lost $77 million after accounting for expenses.”

So, what does this mean? Why is he overvaluing his revenues? I don’t get it. By doing that, isn’t he liable to pay more taxes?


13 posted on 08/15/2020 7:53:44 PM PDT by SeekAndFind
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To: SeekAndFind

IF the people demanding Trump’s financial records DO NOT know the DIFFERENCE between GROSS income & NET income, they hve NO BUSINESS getting any information.

What a CF!!!


14 posted on 08/15/2020 7:58:14 PM PDT by ridesthemiles
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To: SeekAndFind

The debts exceeded the assets:

The asset VALUE is the VALUE—regardless of how much debt there is.....

MY property is worth $400,000-—whether I have debts of ZERO or I have debts of $500,000. The value of MY property is STILL $$400,000. !!!!!

IF I own a car that is worth $$25,000 & I owe $30,000 in mortgage debt-—that DOES NOT ALTER the VALUE of the car!!!!

It is the NET WORTH OF TRUMP (or me) that would compare the 2 numbers.

This is 2nd Week accounting for a new college kid.

WHO is doing the demands for Trump’s records? They are imbeciles!!!

Trump AND his accountants will have a field day with this!!!


15 posted on 08/15/2020 8:03:26 PM PDT by ridesthemiles
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To: SeekAndFind

$179M vs. $152M - could it be fluctuating exchange rate?


16 posted on 08/15/2020 8:12:03 PM PDT by scrabblehack
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To: SeekAndFind

Politico = Amazon Compost = well,you know


17 posted on 08/15/2020 8:21:22 PM PDT by Gay State Conservative (The Rats Just Can't Get Over The Fact That They Lost A Rigged Election!)
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To: All

by “Watchdogs” they mean Leftist Activists, with maybe a few #NeverTrump RINO Establishment GOP Elites thrown in.


18 posted on 08/15/2020 8:40:55 PM PDT by LegendHasIt
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To: SeekAndFind

So let me get this straight ... these people are claiming that there’s something wrong with OVER-reporting your income? LOL.


19 posted on 08/15/2020 8:41:03 PM PDT by Alberta's Child ("We're human beings ... we're not f#%&ing animals." -- Dennis Rodman, 6/1/2020)
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To: SeekAndFind
Trump claimed the resorts — Trump International Golf Links Aberdeen and Trump Turnberry, both in Scotland, and Trump Doonbeg in Ireland — brought in a total of about $179 million in revenue on U.S. documents where he is supposed to list his personal income. Records in the United Kingdom and Ireland indicate the resorts‘ revenues were millions of dollars less — about $152 million — and show they actually lost $77 million after accounting for expenses. Trump claimed the Scottish resorts alone were worth at least $100 million total in 2018 on U.S. documents, but the U.K. records indicate that the resorts aren’t worth anywhere near that because the debts exceeded the assets by about $80 million that year.

So they want to investigate if he paid too much in tax?

20 posted on 08/15/2020 9:02:24 PM PDT by pepsi_junkie (Often wrong, but never in doubt!)
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