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The Trump apple doesn't fall too far from the tree
18 Oct 2024 5:10 am
Fred Trump investigated by New York for pocketing millions from the state
In January, Fred Trump is brought before the New York State Investigations Commission for a public hearing into his use of Trump Village to steal millions from the state. One of the many issues discussed in the investigation is that Fred Trump used state government funding intended for middle-income housing to build a shopping center instead.
He was grilled about an equipment-rental company he incorporated for this job and the outlandish charges he was billing the state for secondhand trucks and back hoes. He charged $21,000 to lease a dump truck valued at $3,600. He billed $8,280 for two tile scrappers valued at $500 apiece, a ploy the commission cited as an example of Trump’s “talent for getting every ounce of profit out of his housing project.” Fred hid his ownership of the equipment company from the state, and state inspectors observed him using much of the equipment to build the adjacent shopping center, which certainly wasn’t part of the state-subsidized project.
Only when faced with the threat of the hearings had Fred returned to the state the $1.2 million he’d kept by overestimating his land costs.
https://trumpfile.org/fred-trump-invest ... -new-york/
In January, Fred Trump is brought before the New York State Investigations Commission for a public hearing into his use of Trump Village to steal millions from the state. One of the many issues discussed in the investigation is that Fred Trump used state government funding intended for middle-income housing to build a shopping center instead.
He was grilled about an equipment-rental company he incorporated for this job and the outlandish charges he was billing the state for secondhand trucks and back hoes. He charged $21,000 to lease a dump truck valued at $3,600. He billed $8,280 for two tile scrappers valued at $500 apiece, a ploy the commission cited as an example of Trump’s “talent for getting every ounce of profit out of his housing project.” Fred hid his ownership of the equipment company from the state, and state inspectors observed him using much of the equipment to build the adjacent shopping center, which certainly wasn’t part of the state-subsidized project.
Only when faced with the threat of the hearings had Fred returned to the state the $1.2 million he’d kept by overestimating his land costs.
https://trumpfile.org/fred-trump-invest ... -new-york/
