Donald Trump lied about the size of his fortune to a bank to try and get a loan to buy the Buffalo Bills NFL team, his ex-fixer claimed.
The president’s disgraced former personal attorney Michael Cohen made the explosive claim during a Congress hearing about his old boss Wednesday.
Representative Lacy Clay asked the former lawyer: ‘Did the president ever provide inflated assets to a bank to help him obtain a loan?’
Caption: Rep. William Lacy Clay asked former Trump lawyer Michael Cohen about whether Trump manipulated his assets. (Picture: Getty Images)
Cohen testified that Donald Trump triedReferring to an exhibit, Cohen replied: ‘These documents and others were provided to Deutsche bank on one occasion to attempt to obtain money so we could bid on the Buffalo Bills.
Trump was accused of lying about his finances to the bank – a felony offense – in 2013, which reportedly saw him inflate his net worth from $4.2billion to $8.66 billion in the course of a year to try and buy the football team.’
Donald Trump’s ‘entire family may have been compromised by Russia’According to Cohen, Trump constantly inflated his perceived wealth because he wanted to appear richer every year on the Forges Magazine list America’s 400 richest people.
‘Mr Trump wanted each year to have his net worth rise on the Forbes wealthiest individuals list,’ Cohen said.
Explaining the tricks he claims Trump used to boost his wealth, Cohen continued: ‘You look at an asset – say (Trump property) 40 Wall Street. Find an asset that is comparable. Find the highest price per foot achieved in the same area.’
Michael Cohen alleged that Donald Trump inflated his perceived wealth to try to buy an NFL team (Picture: Getty Images)
Trump attempted to buy the Buffalo Bills National Football League Franchise (Picture: AP)The massive jump in Trump’s declared assets in 2013 included $4 billion in ‘brand value’ that Trump included as part of his worth, which was not included in any previous filings.
Trump lost his chance to buy the Bills when he was outbid by Terry Pegula, who purchased the team from the estate of the previous owner, according to Buffalo News.
He denies all claims of wrongdoing made against him by Cohen.