The story of Trump's "statements of financial condition" - in essence, sales brochures for Trump the man, given out by Trump the company - goes back to the early 1980s, according to past testimony from Trump's accountants and staffers.
In 2014, Trump used the same accounting firm to prepare financial information for his most expensive development project in decades, his $US200 million transformation of the historic Old Post Office Pavilion in downtown Washington into a Trump International Hotel. "If you're going off of your rent roll, you go by the gross rent roll times a multiple," Cohen said. "And you make up the multiple."
"Users of this financial statement should recognise that they might reach different conclusions about the financial condition of Donald J. Trump" if they had more information, the statement concludes.said that sort of broad disclaimer might shield Trump from allegations that he misled his lenders and insurers. After all, his own accountants told readers they weren't getting the full story.
In 2011, the statements said that Trump's Seven Springs estate in Westchester County, New York, was "zoned for nine luxurious homes." In the statement, Trump said those homes would yield significant cash flow as he built them and sold them. That led him to value the property at $US261 million - far more than the roughly $US20 million value assigned by local assessors.
For Trump, the Bills would have been a financial prize far larger than any he had won in the recent past: Bids were expected to be around $US1 billion.
If major lenders hand over billions of $$ without analysing proper financials & due dilligence, can't blame Trump for conning them. Most businessmen con to get ahead.
Simple he's a very good fraudster
You just can’t let it go eh?😂😂😂😂
Main stream media sides with money lenders.
Seems boreing now you cant push Russian collusion conspiracy theory.....
(Face palm) Like no one else does it in business! Or governments letting business misrepresent them overseas to foreign markets! C’mon.
Whilst deflating net girth...
Just him...i'm sure with little effort you could name thousands more, but you wo'nt
Hillary for Prison.
New narrative already? That was quick. FakeNews
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