Trump Inflating Scottish Golf Resorts' Value By $165 Million, Per UK Filings

[Demovictory9]

Trump Inflating Scottish Golf Resorts’ Value By $165 Million, Per UK Filings
The president told British authorities the properties are a combined $65 million in the red. His U.S. disclosures say they’re worth at least $100 million.

WASHINGTON ― President Donald Trump has filed financial disclosure statements that appear to misstate the value and profitability of his Scotland golf courses by $165 million, possibly violating federal laws that are punishable by jail time.

Trump claimed in his 2018 U.S. filing that his Turnberry and Aberdeen resorts were each worth more than $50 million. For that same time period, he filed balance sheets with the United Kingdom government showing that their combined debt exceeded their assets by 47.9 million British pounds ― the equivalent of $64.8 million at the exchange rate on Dec. 31, 2017, the date of the last U.K. filing available.

His 2018 “public financial disclosure” filed with the U.S. Office of Government Ethics also claims those two resorts earned him “income” of $23.8 million. His filings with the U.K. Companies House office in Edinburgh for that period showed the resorts had actually lost 4.6 million pounds ― equal to $6.3 million.

His U.S. disclosure statement also fails to mention $199.5 million in loans Trump has made to those resorts: $54.9 million from him personally to Trump International, Scotland in Aberdeenshire; $144.6 million from his trust to Trump Turnberry in Ayrshire.

Knowingly providing false or incomplete information on that form is a violation of the Ethics in Government Act punishable by up to a year in jail. Signing the form attesting to the untrue information constitutes making a false statement, punishable by up to five years in prison.

https://www.huffpost.com/entry/trump-scotland-golf-courses-inflating-value_n_5d5c1ccce4b05f62fbd5f559

[True Blue American]

1. And now

The walls are closing in. Cheating on Foreign taxes.

[KY_EnviroGuy]

2. Teaching America's youth how to pull numbers out of your butt for tax forms.

Fine example you're setting there, Don the Con......

[yonder]

3. Always something.

[Takket]

4. I find it very annoying...

That Scotland can tell me about his golf course finances but we don’t know ANYTHING about his US finances!!! We need Scotland’s disclosure laws I guess.

[Scarsdale]

5. Wow. An "Ethics in Government Act"?

It would take years and years for the US to root out the unethical people in this government. Seems as though they have all crawled out from under their rocks just since tRump was installed in the WH. All grasping for rubles from Russia. Moscow Mitch got most of those, obviously.

[Botany]

6. Trump also lied about the # of jobs his Scottish golf course would produce

He said something like > 1,000 jobs and the course has provided < 100 jobs and half
of those jobs are part time caddies. Scotland should seize his golf course.

[calimary]

7. What a fucking crook.

He’s nothing but a fucking fast-talking forked-tongued CROOK.

[duforsure]

8. He's done this for years

And has made millions in tax fraud schemes by inflating values, claiming expensive upgrades that weren't done like he claimed, like gold fixtures when it was gold paint, setting up phony receipts from his phony companies up charging costs. He's a total fraud, and a complete liar. It's catching up to him now.

[PRETZEL]

9. This could get real interesing

if these inflated values were used by the Trump Organization to obtain loans then we may also be looking at bank fraud and other felonies.

Let's hope so.