Attorney General of New York rated the Scottish golf course at $ 161 million, based on a quote to Forbes magazine.

Playing cards golf

President Donald Trump playing golf.Getty

  • The Trump organization evaluated Scottish golf courses based on media citations in accordance with legal documents.

  • The company said the course, five years after Trump bought $ 12.6 million, is worth $ 161 million.

  • Trump denies cheating and claims that the investigation is a political motivation.

The Trump Organization was based on an estimate given by a company executive to Forbes magazine for a $ 161 million valuation for one of Donald Trump’s Scottish golf resorts, New York Attorney General Leticia. James insisted.

In a legal document released on Tuesday, The New York Attorney’s Office claimed that property and other assets were misvalued by the Trump organization. Financial statements as part of a possible fraud plan.

One of our businesses is Trump International Golf Club Scotland, near the city of Aberdeen.

According to Filing, the property was acquired in 2006 by Trump Organization, a subsidiary of Trump’s business, for $ 12.6 million.

However, in 2011 financial statements it was valued at £ 75m or $ 161m.

“This rating appears to be based on an email created to provide Forbes magazine with information for a quote and is not a professional decision,” a statement from James’ office. Said.

According to the document, the email containing the rating was sent by former Trump organization executive George Solial.

As stated in the legal document, Solial’s estimates for Forbes “although no formal assessment is in place at this time”, “talking to experts in this field will change the development itself. We’ve been watching carefully for $ 161 million in valuations over the last five years. “

Insiders contacted The Trump Organization and Solial for comment.

In a statement Wednesday, the Trump Organization argued that the investigation was a politically motivated bid to harm its owners.

“The only person who misleads the public is Letitia James. She promises to win Trump at all costs, without looking at fragments of evidence and without violating all possible ethical rules. Based on all of her candidates, she tricked the New Yorker, “Trump said.

James’s office Also claim That misleading value was given to other properties, including Trump’s Park Avenue apartment complex and his Westchester Golf Club.

The document was released after Trump tried to destroy the subpoena for testimony from himself, his son, Donald Trump Jr., and his daughter, Ivanka Trump.

Read the original article Business Insider