Newsweek reporter Kurt Eichenwald has had his sights on Donald Trump for a while now, and he’s done some of the most comprehensive reporting on the GOP nominee’s most shady financial dealings.
This Monday, the veteran journalist and author summarized much of his research surrounding Trump’s antics that he feels disqualifies Trump’s eligibility for the White House.
Lying under oath, lying about his wealth, lying about his college education, lying about his alleged business successes, lying about money he’s inherited, failing to repay loans — it’s quite a litany of underhanded business tactics that in some cases are unquestionably illegal.
Eichenwald breaks it all down in his 26-part tweetstorm:
That is my first batch of findings from my investigations into Trump, as reported in Newsweek. More coming throughout the day.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
1.Trump lied to Congress that he was not meeting with any Indian casino executives when documents and sworn statements show he was.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
2.Trump testified under oath that he is willing to claim success on something even when he knows his claim is false.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
3. Deutsche Bank concluded Trump net worth at $788 million when he was publicly claiming (and told bank) he was worth multiple billions.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
4. Trump said under oath that he determines his net worth based on how he feels.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
5. While Trump suggests he has an MBA from prestigious Wharton graduate school, only attended undergraduate program for 2 years. Has no MBA
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
6. Trump’s first project, given to him by his dad, lost money, according to state records. Trump has publicly lied that it made money.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
7. Trump’s second project was a Broadway show. It bombed, closing after 96 performances. He lost his investment.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
8. Trump’s claim that his dad gave him only $1m is a lie. His trust fund was $1 mill. Dad gave $10.4m for a bogus consultant job…(1 of 2)
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
..guaranteed $70 m loan, got him $35m credit line, laundered $3.35mill 2 Don in illegal casino deal, loaned $7.5m more (never repaid.) 2/2
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
10. As Trump claimed great success, tax returns showed not. In ‘78 lost $1.5M. In ‘79, lost $11.4m. No bankruptcy cause dad gave him more $
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
11. When Trump built Taj Mahal, testified under oath to NJ he'd only use bank loans, not junk bonds. No bank would lend. Used junk bonds.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
12. Trump’s 3 casinos all competed with each other, which is why no banks loans. Taj took business from his other 2 casinos, crippling all.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
13. Trump spent huge sums on airline, promising top elegance. People w/ airline experience said it couldnt work. It never turned a profit.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
14. After Trump’s top casino execs died in accident, Trump took over running them. Large numbers of execs quit because of his management.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
15. When Trump about to default on interest payment for casino, his dad/he broke law by having dad launder $3.35 mill through casino. (1/3)
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
16. Dad gave Trump another $150,000 loan next day, unreported to banks, in violation of bank agreement. (2/3)
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
17 Rules breaking in financing (money laundering from dad etc) resulted in sanctions against him from NJ casino commission. (3/3)
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
18. Trump banks were forced to make deal with him after bankruptcy of casinos because he personally guaranteed loans. If they went…(1/2)
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
.…after personal guarantee, entire Trump empire would collapse and banks would lose billions. Banks loaned him tons more to save him. (2/2)
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
19. Trump was $3.5 bill in debt. Later, when banks bailed him out, he claimed in books he was $9.5bill in debt to make recovery look better.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
21. Trump admitted under oath that, when he claimed he was $9.5 bill in debt in his books, it was a lie and he knew it.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
22. No banks will lend to Trump except Deutsche Bank. In 2008, he defaulted on a $640 mill construction loan to them.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
23. List of Trump failures: TrumpMortgage, TrumpFinancial, Trump Hotels & Casino Resorts, Trump Shuttle, https://t.co/YpGFDcXmYx…(1/3)
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
24. ..Trump Vodka, Trump Steaks, Trump Taj, Trump Castle, Trump Plaza, Trump Dubai, Trump University, Trump Toronto, Trump Hollywood..(2/3)
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
25. I could go on many more tweets listing Trump's business failures. It'd be easier to list the Trump businesses that haven't failed. (3/3)
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
26. In Trump University, Trump claimed to “personally select” teachers who would teach real estate secrets. He did not, they did not.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
27. Trump marketed projects of other developers as his own. Only those who read dense legal agreement’s fine print learned it was a lie.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
28. Trump sold his name 2 incompetent developers whose projects collapsed, costing people who paid deposits millions while he made millions.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
29. When condo buyers sued Trump for falsely claiming projects of other developers were his, he said they should have read the fine print.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
30. Trump testified he did a favor to the condo buyers who lost millions by trusting him, because they avoided the real estate collapse.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
Eichenwald is still updating his tweetstorm. Check it out here.
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