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 ...
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.
Investigate Antifa US funding.
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.
Nonsense article. Revenue does not equal value.
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.
“It’s okay to hate democrats.”
The next witch-hunt.
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.
Overvaluation wouldn’t be a problem. UndervLuing would be
These people are stupid
Geez - undervaluing
More chihuahuas nipping fruitlessly at his heels.
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?
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!!!
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!!!
$179M vs. $152M - could it be fluctuating exchange rate?
Politico = Amazon Compost = well,you know
by “Watchdogs” they mean Leftist Activists, with maybe a few #NeverTrump RINO Establishment GOP Elites thrown in.
So let me get this straight ... these people are claiming that there’s something wrong with OVER-reporting your income? LOL.
So they want to investigate if he paid too much in tax?
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