Records show: Trump claimed both properties were his primary residences
Public investigative news organization ProPublica found records showing that Donald Trump, when signing mortgage documents in the 1990s, claimed that two Florida properties were each his primary residence — while his administration now calls similar actions by political opponents "mortgage fraud."
Documents unearthed by ProPublica show that during a seven-week period from late 1993 to early 1994, the president applied for loans on two adjacent Palm Beach homes and pledged that each would be his primary residence. However, he did not reside there, instead renting both properties out as investment properties.
The report notes that there is no evidence of illegality; proving intent is key in fraud cases. Nevertheless, Trump has called the same behavior — holding two mortgages for primary residences — "deceptive and potentially criminal," and used it to accuse Federal Reserve Governor Lisa Cook. The Trump administration is also bringing similar charges against New York State Attorney General Letitia James, Senator Adam Schiff, and Congressman Eric Swalwell.
James was sued in October over registering a Virginia property as a second home and then renting it out. Cook was fired for signing two mortgages for primary residences within a few weeks — exactly as Trump had done years earlier.
The report mentions that the loans involved by Trump in 1993 and 1994 provided financing for two properties near Mar-a-Lago on Woodbridge Road, with amounts of $525,000 and $1.2 million respectively. Each mortgage included standard occupancy requirements stipulating that Trump must use the property as his primary residence within 60 days and live there for at least one year.
However, records show that Trump lived in the Trump Tower in Manhattan, New York, during that time. He did not officially move his permanent residence to Florida until 2019. ProPublica obtained newspaper ads from the mid-1990s showing that both properties were listed for rent, with the larger seven-bedroom property renting for $3,000 per day in 1997.
ProPublica said both mortgages have been fully paid off, and any potential violations are well beyond the statute of limitations for mortgage fraud.
When asked whether his Florida mortgages were similar to the actions he accused others of, Trump hung up the phone.
Original article: toutiao.com/article/1851051958108236/
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