Allen Weisselberg couldn't explain how the value of one $400M Trump property doubled in one year: report

Allen Weisselberg couldn't explain how the value of one $400M Trump property doubled in one year: report
Donald Trump speaking at CPAC 2011 in Washington, D.C., Wikimedia Commons

Allen Weisselberg, former chief financial officer for the Trump Organization, faced difficulty explaining how one of the company's properties had been valued at approximately 435 million — more than double what it had been valued the year before — according to newly released documents.

On Tuesday, January 18, the documents were released by New York Attorney General Letitia James' office. "'Mr. Weisselberg testified that he could not explain this discrepancy," the documents reportedly said.

According to Business Insider, there is incriminating documentation that alleges assets throughout former President Donald Trump's financial portfolio of businesses and real estate properties had been mis-valued. There is also speculation that the valuations could be part of an elaborate financial fraud scheme.

On the list of properties, the Trump International Golf Club Scotland was highlighted.

Officials believe the increased value appears to center 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."

On Wednesday, January 19 the Trump Organization released a statement criticizing the investigation, and arguing that it is a politically-motivated tactic aimed at damaging the former president.

"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 latest development comes months after Weisselberg was charged with multiple offenses in connection with an alleged tax evasion scheme involving the Trump Organization.

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