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Donald Trump Says Properties More Valuable Than Stated In Financial Docs — Does He Realize That’s What He’s Accused Of?

Donald Trump Says Properties More Valuable Than Stated In Financial Docs — Does He Realize That’s What He’s Accused Of?

Donald Trump is being investigated by the New York Attorney General’s office for allegedly undervaluing his properties in some assessments and overvaluing them in others, in order to receive financial boons he might not otherwise have been entitled to. His latest Twitter rant — released by proxy — seems more to affirm these accusations than refute them.

[Photo by Spencer Platt/Getty Images]

Through his spokesperson Liz Harrington, Trump released a statement (the images will be appended at the end of this story so you can read his screed in full) again lashing out about the investigation, and specifically about accounting firm Mazars cutting ties with him and refusing to stand behind his financial statements.

Trump opens the rant with a declaration that his company has fantastic assets that are “in many cases, far more valuable than what was listed in our Financial Statements.” Though he later seems to temper this with the suggestion that it’s his brand that’s valuable, answering an allegation that one’s financial statements are inaccurate with a declaration that the same statements undervalue properties seems inadvisable, at best.

A significant portion of the tweet is made up of images of a statement from Mazurs, which Trump describes as a “strongly worded disclaimer clause” — though it actually is a list of “departures from accounting procedures generally accepted,” including “values expressed…based on future interests that…are not for fixed or determinable amounts,” and “report[ing] cash and marketable securities as a single amount,” as well as failing to include for one property (Trump Tower) “1) real property, 2) mortages & loans payable, and 3) guarantees which Donald J Trump may have provided.”

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Trump also insists Mazurs has “strongly stated” that there were “no material discrepancies in the financial statements.” This is, of course, not true. BBC has the company’s departure letter, which does say they haven’t drawn conclusions about discrepancies, but does not “strongly state” that they don’t exist:

“While we have not concluded that the various financial statements, as a whole, contain material discrepancies, based upon the totality of the circumstances, we believe our advice to you to no longer rely upon those financial statements is appropriate.”

Trump closes by insisting that law enforcement should be focusing instead on unverified allegations against Hillary Clinton, a reiteration of his suggestion that death would be an appropriate penalty for her, and finally, a claim that investigations into his company are racist. He doesn’t offer support for any of these claims.

(The images from Harrington’s tweet follow.)

[Image via Liz Harrington/Donald Trump]
[Image via Liz Harrington/Donald Trump]
[Image via Liz Harrington/Donald Trump]
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