Funny how the same real estate can be valued differently in different countries."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."
Meanwhile, in Ireland.
"U.S. filings also included erroneous information regarding Trump’s Doonbeg resort in Ireland, which similarly requires annual disclosures from privately held companies.
In 2015, 2016 and 2017, Trump told the Irish government that the course had lost millions of dollars ― $7.2 million in all.
In that same period, Trump claimed on his American financial disclosures that the course had provided him tens of millions of dollars in income, totaling $37.4 million."
https://www.huffingtonpost.com.au/entry/trump-scotland-golf-courses-inflating-value_n_5d5c1ccce4b05f62fbd5f559
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