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Robert Reich, Reich writes: "Newly released documents reveal major inconsistencies between metrics Trump reported to New York City property tax officials and metrics he reported to lenders who were financing his signature building, Trump Tower in Manhattan."

Former Clinton Labor Secretary Robert Reich. (photo: Steve Russell/Toronto Star)
Former Clinton Labor Secretary Robert Reich. (photo: Steve Russell/Toronto Star)


A Blatant Fraudster Occupies the Highest Office in the Land

By Robert Reich, Robert Reich's Facebook

30 November 19

 

ewly released documents reveal major inconsistencies between metrics Trump reported to New York City property tax officials and metrics he reported to lenders who were financing his signature building, Trump Tower in Manhattan. This is the third major Trump property that has reported differing numbers to tax officials versus lenders. In the most recent case at Trump Tower, the occupancy rate was listed as 11, 16, and 16 percentage points higher to a lender over three consecutive years than to New York City tax officials.

So why does this matter? Reporting different occupancy rates makes the property appear more profitable to the lender, and less profitable to city tax officials — i.e., it's a form of fraud. As described in congressional testimony by Michael Cohen, this follows a pattern in which Trump falsely makes his properties appear more profitable to lenders in order to secure loans, and then makes them appear less so in order to reduce the property taxes he owes. The laundry list of Trump’s illegal and corrupt business practices continues to grow. It is an utter disgrace that a blatant fraudster occupies the highest office in the land.

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