Trump's Shifting Net Worth May Bear Clues for Investigators
- Inflated valuations went to insurance firms, Cohen testified
- Property bought for $7.5 million, then valued at $291 million
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How President Donald Trump may have inflated and deflated his personal wealth is more than mere curiosity: It could be of keen interest to any authorities trying to figure out if he misrepresented himself to insurance companies and lenders.
Former Trump fixer Michael Cohen attested to Trump’s shifting wealth valuations to lawmakers on Wednesday, bearing what he said were annual net-worth summaries prepared for Trump earlier this decade. Trump handed the summary with high valuations to lenders and journalists, Cohen testified. When it came to tax authorities, he lowballed.