Business Standard

'Trump exaggerated his assets, hid his debts'


US President Donald Trump has exaggerated his assets and hid his debts in order to have a good impression over business partners, reports The Washington Post.
During the business dealings, Trump used to send lenders official documents called 'Statements of Financial Condition' with false details about his properties, debts and multibillion-dollar net worth.
Citing one such document, the website, stated that the documents "were deeply flawed" in which several properties were simply omitted.
For instances, in 2011, Trump claimed that he has 55 home lots ready to sell for USD 3 million or more at his golf course in South California.
However, when investigated, it was found Trump had only 31 lots zoned and ready for sale.
The White House is yet to respond to the Post's report.
Earlier this month, in a hearing, Trump's former lawyer Micheal Cohen also accused Trump of inflating or deflating his net worth for potentially improper purposes".

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First Published: Mar 29 2019 | 3:32 AM IST

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