Probably most of you are aware that the New York Attorney General is alleging that ex President Donald Trump and three of his kids fraudulently deceived his lenders by inflating the value of his real estate holdings, not just a little but at times by a factor of nine or ten. He not only fudged on the stated value, up or down, depending if he was talking to a tax man or a banker but also on the square footage of the properties. Trump valued his Fifth Avenue penthouse at $327 million dollars (a price never paid before for a NYC apartment) but he also inflated the actual square footage to three times its actual size.
“We found that Trump, his family, and the Trump Org used fraudulent and misleading asset valuations over 200 times in 10 years on his annual financial statements. These statements were then used to obtain hundreds of millions of dollars in loans and insurance coverage.” Letitia James
In typical Trump fashion, he is blaming the lenders for his falsehoods, he says that they failed to do their due diligence. Basically, it was their fault for believing him in the first place. And in the end, everybody got paid, at least according to 45. Cheating is evidently a time honored part of the game, expected really.
...in an interview with Fox News Channel’s Sean Hannity, Trump said his company’s financial disclosures warned banks not to trust the information provided.