My guy runs fraudulent businesses
Donald Trump is one of the world’s most successful business people. At least that is the story he tells. In reality he has a history of fraudulent businesses leaving customers swindled, contractors unpaid, investors lied to, taxes avoided and laws broken. There is a repeated and clear pattern of putting money and his image first at any cost completely independent of who it hurts in the process. All while attempting to hold up the facade of being the “master of the deal”.
The Atlantic City Taj Mahal
Originally purchased mid construction in 1987, and opened on April 1990. It has left in its wake a large contingent of unpaid contractors, vendors and workers. In an article from July 1990 only 14 weeks after opening it had $90 million dollars in unpaid bills. To this day there still $69 million dollars of defaulted payments. Many businesses had to eat those costs and many small ones folded because of it.
In 1998 Trump testified to the New Jersey Casino Control Commission. They were looking to pull his license based on the ballooning construction costs. Trump claimed to be able to raise the money. Trump testified:
“I’m talking about banking institutions, not these junk bonds”
Trump then raised $675 million in junk bonds at 14%. Eventually bankrupting the casino and leaving many investors, workers, contractors and vendors with their hands out waiting for money that would never come.
Sources:
Washington Post - Unpaid Bills Mount At New Trump Casino
Wikipedia - Hard Rock Hotel / Taj Mahal
Trump University
One of the three cases brought against Trump University started in 2013. Donald Trump fought the case for years and eventually settled for $25 million dollars in late 2016.
Students were paying up to $35,000 for real estate secrets from hand picked instructors who worked directly with Donald Trump. Well none of the claims of “hand picked instructors" were true.
Students were squeezed for more money, taught potentially illegal business practices and were gas lit when concerns were brought up.
Sources:
NY Attorney General Site - Trump University Settlement
Donald J Trump Foundation
This is a charitable organization started originally to distribute funds from the proceeds of Trump’s book “Trump: The Art of the Deal” to charitable causes.
When scrutiny began to increase around the foundation’s practices Trump attempted to dissolve it before his inauguration in 2016. It was blocked by the NY AG’s office since it was actively under investigation.
It was determined that charitable funds collected by the Trump Foundation were not being distributed, contrary to statements by the foundation.
Donald Trump used $250,000 to settle law-suits he was involved in
$100,000 for fines at Mar-a-Lago
Trump’s golf course settled a lawsuit by making a charitable donation to the plaintiff’s chosen charity. The foundation made a $158,000 donation
Personal purchases, sports memorabilia, entertainment costs, a personal portrait.
Washington Post reporter David Fahrenthold investigated the discrepancies and brought to light more activities proving Trump and his families misuse of the foundation. David Fahrenthold eventually won the 2017 Pulitzer Prize for National Reporting for his investigative work.
Eventually resolved in December 2019 the New York AG’s office put out this statement summarizing the results of the case:
$2 million dollar payment split between 8 charities
Trump forced to reimburse the foundation for his personal expenditures
The remaining balance of the accounts must also be split among the 8 charities
Trump’s children had to do mandatory training
Restrictions on starting a new charity
Closes the foundation.
Sources
NY AG Statement - Trump University $2 million for Illegal Use of Foundation
And many many more:
The Trump Network - MLM Scam
Trump University - Fraud
Trump Tampa - Failure & Fraud
Trump Soho - Bankrupt & death of worker
Trump Golf Aberdeen - Job promise scam
Trump Golf Puerto Rico - Bankrupt
Trump Chicago - default on 40 mil loan payment
Trump Panama - lawsuit for management corruption
Trump Baja Mexico - Fraud & Failure
Trump Fort Lauderdale - Scam & failure
Trump Vodka - business failure
Trump Steaks - business failure
Trump Shuttle - loan default biz failure
Trump Air & Trump Pak - business failure
Trump Taj Mahal - bankrupt four times
Trump Marina/Trump Castle - bankrupt
Trump Plaza - bankrupt
Trump Indiana Riverboat Casino - bankrupt
Trump IPO-ticker DJT - DJTCQ-TRMP-TER- Fail
Trump Atlanta - failure
Trump Charlotte - failure
Trump Jupiter - lawsuit
Trump Waikiki Hotel - scam lawsuit
