Allen Weisselberg couldn't explain gaps in figures used to value Trump golf course at $400 million, NY AG says in fraud investigation
- A Trump Org official was unable to explain a financial discrepancy, new legal filings say.
- Documents from the New York Attorney General focus on one of Trump's golf courses.
Trump Organization CFO
The documents, released on Tuesday alleged that assets across
Among the properties identified in the documents is the Trump International Golf Club Scotland, in the countryside outside Aberdeen.
According to a statement by James's office, the property was valued at $435.56 million in financial documents submitted by Trump in 2014.
This represented an increase of more than double compared to its valuation the year before.
Officials said the higher figure appeared to be based on "assuming the right to build 2,500 luxury homes on the property – despite approval to build fewer than 1,500 holiday apartments and golf villas."
The legal documents said that in 2009 Scottish authorities gave provisional permission for 1,486 holiday homes and golf villas to be built, more than a thousand fewer than the 2,500 which seemed to contribute to the $435 million valuation.
"'Mr. Weisselberg testified that he could not explain this discrepancy," the documents said.
Statement noted that the evaluation also didn't take account of an indefinite postponement of residential developments on the property.
James's office also noted that the properties in question were short-term rentals or golf villas, not residential homes, which it said would also affect their value.
Weisselberg was charged last year with offences relating to an alleged tax fraud scheme at the Trump Organization,
That charge was part of a separate criminal inquiry being conducted by the Manhattan district attorney's office.
He has denied any wrongdoing. Weisselberg also has not been charged with any offences as part of the NY AG investigation.
Insider has contacted Weisselberg's attorney for comment on the claims.
The Trump Org in a statement Wednesday said James' investigation was a politically motivated bid to damage Trump.
"The only one misleading the public is Letitia James. She defrauded New Yorkers by basing her entire candidacy on a promise to get Trump at all costs without having seen a shred of evidence and in violation of every conceivable ethical rule," said the statement.
The NY AG's documents were released after Trump sought to quash a subpoena from the NY AG seeking testimony from himself, his son, Donald Trump Jr., and his daughter, Ivanka Trump.
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