Former United States President Donald Trump was just hit with a $454 million judgment in a civil fraud trial in New York after he fraudulently inflated the values of some of his assets. As it turns out, those overvalued assets included the Trump International Golf Club in Aberdeen, Scotland.
According to a report from The Herald Scotland, Donald Trump fraudulently inflated the valuations of homes that did not even exist on his Scottish golf club properties by up to $250 million as part of a scheme to illegally obtain more favorable loan rates and borrow more money.
“A US judge has found that it had been wrongly stated that 2500 homes had already been built as part of a project associated with the loss-making Trump International Golf Club in Aberdeen. But there was planning permission to build only 500 and no development had taken place,” Martin Williams wrote for The Herald.
“According to a judge’s civil fraud case findings of fact at one point the Trump organisation had valued the 2500-home development at £83,164 when an appraisal it received placed it at less than half that. That put the value of the undeveloped Aberdeen land at £207.9m.”
Obviously, it’s horrible news that Trump made such an egregiously fraudulent move, and it led to a lot of reactions on social media as a result.
Who could’ve imagined? https://t.co/7JNTT6LOES
— B J Steinm (@JSteinm) February 25, 2024
Sue him
— Angelus Merula (@AngelusMerula) February 25, 2024
It was certainly a bold move of Trump to try to get away with such brazen fraud, but he was ultimately caught.
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