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Trump Repeatedly Inflated Net Worth in Financial Statements: WaPo

Docs were sent to potential lenders, partners, or even journalists.

President Trump repeatedly crafted financial statements that overinflated his net worth, The Washington Post reports Thursday. As a businessman, Trump reportedly sent these “Statements of Financial Condition” to potential lenders, partners, or even journalists. These documents gave a flawed picture of Trump’s net worth, according to the Post, which reviewed copies of the statements from 2002, 2004, 2011, 2012, and 2013. In 2011, Trump claimed he had 55 home lots to sell at his golf course in Southern California, when in actuality, only 31 lots were ready to sell, according to city records. Each lot would sell for at least $3 million, according to the statement. Trump said his Virginia vineyard had 2,000 acres, when it really has about 1,200; he also claimed Trump Tower has 68 stories when it actually has 58.

The statements were prepared by Trump’s accountants. Those accountants have said they did not verify or audit the figures in the statements. “In the compilation process, it is not the role of the accountant to assess the values,” said Gerald J. Rosenblum, one of the accountants. “The role is to accept those values and move them forward.”

EA$Y MONEY

Trump Lied About Worth to Get Deutsche Bank Loans: NYT