Report: The Trump Organization Should Be Soiling Itself Right Now – Vanity Fair

Last month, The New York Times reported that Westchester County D.A.s office had opened a separate criminal probe into the Trump Organization thought to be focused in part on whether the company misled local officials about the Trump National Golf Club Westchesters property value with the express intent of lowering its tax bill. For instance, in one year, town officials assessed the property at roughly $15 million, while the Trump Organization claimed it was worth just $1.4 million. Meanwhile, on federal disclosure forms filed while he was president, Trump said the club was worth more than $50 million. Which is quite the discrepancy!

Of course, the idea that a company run by Donald Trump would claim a property was worth significantly less than what local officials said it was should come as no surprise whatsoever. In February 2019, Michael Cohen, Trumps former personal attorney,toldCongress that in his experience,Trumpinflatedhis totalassetswhen it served his purposes, such as trying to be listed amongst the wealthiest people inForbes,anddeflatedhisassetsto reduce his real estate taxes. Cohen cited portions of documents known as Statements of Financial Condition, which were write-ups of Trumps real estate assets and debts, which Cohen said were intended to demonstrate his wealth, particularly to lenders who he wanted to loan him money. A month after Cohens testimony, the Post dove into such documents, and found that they were filled with a comical number of lies.

In 2011, for instance, a Statement of Financial Condition claimed that Trump owned 55 home lots ready to sell for at least $3 million apiece at his Southern California golf course. Yet, in reality, hed only been zoned for 31, thereby overstating his future revenue by approximately $72 million. In a document from 2012, he added an extra 800 acres to the size of his 1,200-acre Virginia vineyard. In 2013, in an attempt to bolster his bid for the Buffalo Bills, a two-page Summary of Net Worth conveniently omitted his ownership of two hotels, in Chicago and Las Vegas, meaning, as the Post noted,some of Trumps actual debt load was hidden from anyone reading the statement. In perhaps the most brazen example of Trumpian exaggeration, he invented an extra 10 stories at Trump Tower, claiming that the building was 68 stories when, in actuality, there are 58.

As the Post noted on Thursday, its possible the second grand jury could conclude without handing down further indictments, though if the prior one is any guide, that may not be the case. The Trump Organization did not respond to the Posts request for comment. Trumps personal lawyers Ron Fischetti and Phyllis Malgieri declined to comment. In previous statements, Trump, his spokespeople, and his family have decried any investigations into the ex-president and his family business as politically motivated witch hunts. Last year, Eric Trump told the Post, This type of targeting and harassment violates every ethical guideline of a prosecutor. Its wrong.

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Report: The Trump Organization Should Be Soiling Itself Right Now - Vanity Fair