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Old 09-01-2019, 06:59 PM
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Quote:
Originally Posted by wolfpup View Post
Don't forget the terrific opportunities for insurance fraud:
Hurricanes have often been a threat to Mar-a-Lago. In 2005, Trump said he received a $17 million insurance payment for hurricane damage to the resort, but an Associated Press investigation found little evidence of such large-scale damage. At the time, Trump said he didn’t know how much had been spent on repairs, but acknowledged he pocketed some of the money. He transferred funds into his personal accounts, saying that under the terms of his policy “you didn’t have to reinvest it.”
https://time.com/5665863/hurricane-d...mp-mar-a-lago/
He may not have received any at all.
Did Trump get $17 million for hurricane damage to Mar-a-Lago that never happened? (Article from 2017)
Quote:
President Donald Trump once said he got $17 million in a hurricane damage insurance payout for his Mar-a-Lago resort in Florida, but an Associated Press investigation couldn't find much evidence of the supposed damage.

During a 2007 deposition for a civil lawsuit that didn't have a whole lot to do with the insurance payment, Trump said he received the $17 million from an insurance policy and that the money went toward fixing up the "landscaping, roofing, walls, painting, leaks, artwork in the — you know, the great tapestries, tiles, Spanish tiles, the beach, the erosion," and added that the estate's "still not what it was."

He also mentioned that some of the insurance money went into his wallet, which was allowed based on the terms of the policy. However, the AP couldn't figure out which insurance company paid the bill, and the only confirmation of the payout amount is Trump's word at the deposition.

The payment allegedly comes from 2005, the year Hurricane Wilma hit Florida. Though the storm was powerful, the AP could only find evidence of some downed trees and missing roof tiles at Mar-a-Lago. The estate is valued at around $150 million, so, when you think about $17 million in damage, you'd think winds and water wrecked more than 10 percent of the structures and facilities.

Donald Trump Jr. got married there two weeks after Hurricane Wilma, which seems like an event unlikely to have taken place had Mar-a-Lago been the cracked, water-stained mess Trump seems to have claimed.

The AP also asked around, and couldn't find anyone who could come close to a reason for Trump's eight-figure claim.