According to newly obtained documents, Donald Trump’s financial statements are so full of lies that his accountants put a warning label on them.
A new report by Vanity Fair notes that in a 2011 document known as a “Statement of Financial Condition,” Trump purported to own 55 home lots ready to sell for at least $3 million apiece at his Southern California golf course. Yet, in reality, he’d only been zoned for 31, thereby overstating his future revenue by a cool $72-odd million.
In a document from 2012, he tacked on an extra 800 acres to the size of his roughly 1,200 acre Virginia vineyard.
In 2013, in an attempt to bolster his bid for the Buffalo Bills, a two-page “Summary of Net Worth” conveniently omitted his ownership of two hotels, in Chicago and Las Vegas, meaning, per the Post, “that some of Trump’s actual debt load was hidden from anyone reading the statement.”
In perhaps the most brazen, Trumpian “exaggeration,” he invented an extra 10 stories at Trump Tower, claiming that the building was 68 stories when, in actuality—you can literally look at the building and count them—there are 58.
In a sign of just how ridiculous these statements were, the accountants who prepared the documents literally put a disclaimer on them, effectively stating that Trump was full of crap.
The documents begin with two-page disclaimers, warning of various ways in which the statements don’t follow normal accounting rules. The accountants note that Trump is the source of many buildings’ valuations—and that, contrary to normal accounting rules, he had inflated them by counting future income that wasn’t guaranteed:
“Users of this financial statement should recognize that they might reach different conclusions about the financial condition of Donald J. Trump” if they had more information, the statement concludes.
The accounting firm said Wednesday—the same day the House Oversight Committee requested 10 years of Trump’s financial statements—that it “believes strongly in the ethical and professional rules and regulations that govern our industry, our work, and our client interactions.”
Earlier this month, the New York State Department of Financial Services subpoenaed records from Aon, Trump’s longtime insurer, according to the report.